31 Direct materials, 140,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 142,200 units 31 Bal., ? units, 2/5 completed Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total 238,680 63,380 35,656 a. Determine the number of units in work in process inventory at August 31. units b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0" Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August 341,748 Whole Units 7,800 254,592 317,972 353,628 11,880 11,880 Equivalent Units Equivalent Direct Materials Units Conversion 0 1,560

31 Direct materials, 140,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 142,200 units 31 Bal., ? units, 2/5 completed Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total 238,680 63,380 35,656 a. Determine the number of units in work in process inventory at August 31. units b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0" Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August 341,748 Whole Units 7,800 254,592 317,972 353,628 11,880 11,880 Equivalent Units Equivalent Direct Materials Units Conversion 0 1,560

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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vd subject-Accounting
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A-3
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Vd Subject: accounting
< ebook Equivalent Units and Related Costs; Cost of Production Report: Weighted Average Cost Method Joshua Flour Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in Process-Sifting Department was as follows on March 1: Work in Process-Sifting Department (3,200 units, 75% completed) $3,500 The following costs were charged to Work in Process-Sifting Department during March: Direct materials transferred from Milling Department: 14,500 units $51,400 Direct labor 13,325 Factory overhead. 5,125 During March, 14,900 units of flour were completed. The balance of Work in Process-Sifting Department on March 31 was 2,800 units, 50% completed. Required: Prepare a cost of production report for the Sifting Department for March, using the weighted average cost method. Joshua Flour Company Cost…