he following information concerns production in the Baking Department for March. All direct materials areplaced in process at the beginning of production.ACCOUNT Work In Process-Baking DepartmentACCOUNT NO.DateItemDebitCreditBalanceDebitCreditMar. 1Bal., 18,000 units, 1?4completed14,76031 Direct materials,336,000 units252,000266,76031 Direct labor40,000306,76031 Factory overhead60,530367,29031 Goods finished, 330,000units346,41020,88031Bal. ? units, 2?520,880completeda. Determine the number of units in work in process inventory at March 31.units

Beginning inventory = 18,000 units production started = 336,000 units Finished units = 330,000 units

Answered: a. Determine the number of units in…

Business

Accounting

a. Determine the number of units in work in process inventory at March 31. units

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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What is the balance work in process inventory at the end of the month
Question 1
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22 Required information [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending Sales Cost of goods sold: Finished goods inventory, beginning Cost of goods manufactured DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit Selling expenses Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,372,000. $ 2,650,000 110,000 143,000 Work in…