5a. Determine the number of units in progress inventory at December 31. _______ unitsb. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0". Baking DepartmentEquivalent Units of Production for Direct Materials and Conversion CostsFor DecemberEquivalent UnitsEquivalentWhole UnitsDirect Materials Units ConversionInventory in process, December 1Started and completed in DecemberTransferred to finished goods in DecemberInventory in process, December 31Total ACCOUNT Work In Process-Baking DepartmentACCOUNT NO.BalanceDateItemDebitCreditDebitCreditDec.1 Bal., 6,000 units, 1/3 completed14,40031 Direct materials, 108,000 units194,400208,80031 Direct labor56,880265,68031 Factory overhead32,000297,68031 Goods finished, 109,500 units286,70010,98031 Bal., ? units, 4/5 completed10,980

Name: 5a. Determine the number of units in progress inventory at December 31
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: 5a. Determine the number of units in progress inventory at December 31. _______ unitsb. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0". Baking DepartmentEquivalen

Answered: Image /qna-images/answer/cc8bca63-a11b-4c1f-b9e7-29ecadafc583.jpg

Business

Accounting

a. Determine the number of units in progress inventory at December 31. _______ units b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0".

a. Determine the number of units in progress inventory at December 31. _______ units b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0".

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format thanku
What is the balance work in process inventory at the end of the month
2.7 The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $84,750 of direct materials.
Compute for the Economic order quantity, assuming the no of units of materials required annually 20,000 cost of placing the order P29.00, Annual Carrying cost of inventory P 5.4
1. The number of units in work in process inventory at the end of the period. 2. Equivalent units of production for direct materials and conversion 3. Costs per equivalent unit for direct materials and conversion. 4. Cost of the units started and completed during the period.
pvn.3
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process. Quarter BeginningWIP Started TransferredOut Conversion(%) 1 — 134,150 133,250 25 2 524 132,594 132,493 24 3 339 133,246 133,445 20 4 489 134,845 134,434 23 What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Quarter 1 Quarter 2 Quarter 3 Quarter 4 Units for material costs fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Units for conversion costs fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8
A production department's beginning inventory cost includes $490,000 of conversion costs. This department incurs an additional $1,037,500 in conversion costs in the month of March. Equivalent units of production for conversion total 925,000 for March. Calculate the cost per equivalent unit of conversion using the weighted-average method. Cost per equivalent unit of conversion Choose Numerator Choose Denominator Cost per equivalent unit of production
Complete the production cost report using FIFO.
Provide answer
If 500 units were one-fourth completed at May 31, 5,500 units were completed during May, and the first-in, first-out method is used, what was the number of equivalent units of production with respect to conversion costs for May? a. 4,875 b. 4,500 c. 5,625 d. 5,500 2. What is the conversion cost per equivalent unit? a. $10 b. $25 c. $32 d. $15