20-3 Exercises & Problems eBook Calculator Show Me How The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Debit Credit Date Item Credit Debit March 1 Bal., 7,800 units, 2/5 completed 24,960 31 Direct materials, 140,400 units 224,640 249,600 31 Direct labor 63,920 313,520 31 Factory overhead 35,956 349,476 31 Goods finished, 142,200 units 337,356 12,120 31 Bal. ? units, 3/5 completed 12,120 a. Determine the number of units in work in process inventory at March 31 units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0" Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Whole Units Direct Materials Conversion Equivalent Units Equivalent Units Inventory process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total

20-3 Exercises & Problems eBook Calculator Show Me How The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Debit Credit Date Item Credit Debit March 1 Bal., 7,800 units, 2/5 completed 24,960 31 Direct materials, 140,400 units 224,640 249,600 31 Direct labor 63,920 313,520 31 Factory overhead 35,956 349,476 31 Goods finished, 142,200 units 337,356 12,120 31 Bal. ? units, 3/5 completed 12,120 a. Determine the number of units in work in process inventory at March 31 units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0" Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Whole Units Direct Materials Conversion Equivalent Units Equivalent Units Inventory process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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