**Equivalent Units of Production**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**| Date | Item | Debit | Credit ||------|------|-------|--------|| | Balance | Debit | Credit || March 1 | Bal., 8,400 units, 3/5 completed | 26,880 || March 31 | Direct materials, 151,200 units | 241,920 | 268,800 || March 31 | Direct labor | 68,110 | 336,910 || March 31 | Factory overhead | 38,318 | 375,228 || March 31 | Goods finished, 153,300 units | 362,502 | 12,726 || March 31 | Bal. ? units, 3/5 completed | 12,726 |---a. Determine the number of units in work in process inventory at March 31.[Input Box for units]b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount box does not require an entry, leave it blank.---**Baking Department***Equivalent Units of Production for Direct Materials and Conversion Costs For March*| | Direct Materials Equivalent Units | Conversion Equivalent Units ||-------------------------------|-----------------------------------|-----------------------------|| Inventory in process, March 1 | | || Started and completed in March| | || Transferred to finished goods in March| | || Inventory in process, March 31| | || *Total* | | |---This table helps calculate the equivalent units of production, which are used in process costing to assign costs to partially completed units of production.

Name: **Equivalent Units of Production**The following information concerns
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Description: **Equivalent Units of Production**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**| Date | It

a. Units in work in process inventory March 31 = beginning units + units started - units completed = 8400 + 151200 - 153300 = 6300 units whole Units Equivalent Units Direct materials conversion inventory in process, Mar 1 (0%,2/5) 8400 0 3360 started and completed (93000-5100) 144900 144900 144900 transferred to Finished goods in March 153300 144900 148260 inventory in process, Mar 31 (100%, 3/5) 6300 6300 3780 Total 159600 151200 152040

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Accounting

Balance ate Item Debit Credit Debit Credit arch 1 Bal., 8,400 units, 3/5 completed 26,880 31 Direct materials, 151,200 units 241,920 268,800 31 Direct labor 68,110 336,910 31 Factory overhead 38,318 375,228 31 Goods finished, 153,300 units 362,502 12,726 31 Bal. ? units, 3/5 completed 12,726 Determine the number of units in work in process inventory at March 31. units

Balance ate Item Debit Credit Debit Credit arch 1 Bal., 8,400 units, 3/5 completed 26,880 31 Direct materials, 151,200 units 241,920 268,800 31 Direct labor 68,110 336,910 31 Factory overhead 38,318 375,228 31 Goods finished, 153,300 units 362,502 12,726 31 Bal. ? units, 3/5 completed 12,726 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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