Chapter 17 Homework Item > Date August 1 Bal., 4,800 units, 3/5 completed 31 Direct materials, 86,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 87,600 units 31 Bal., ? units, 3/5 completed Total Debit Credit Debit 6,912 162,432 206,912 231,936 Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 155,520 44,480 25,024 a. Determine the number of units in work in process inventory at August 31. units 223,7288,208 b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August 8,208 Whole Units Credit Equivalent Units Equivalent Direct Materials Units Conversion

Chapter 17 Homework Item > Date August 1 Bal., 4,800 units, 3/5 completed 31 Direct materials, 86,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 87,600 units 31 Bal., ? units, 3/5 completed Total Debit Credit Debit 6,912 162,432 206,912 231,936 Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 155,520 44,480 25,024 a. Determine the number of units in work in process inventory at August 31. units 223,7288,208 b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August 8,208 Whole Units Credit Equivalent Units Equivalent Direct Materials Units Conversion

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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August 1 Bal., 7,800 units, 2/5 completed 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 341,748 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 Whole Units 7,800 15,912 254,592 317,972 353,628 11,880 11,880 0 Equivalent Units Equivalent Direct Materials Units Conversion 1,560
32 31 At the beginning of the month, the Painting department of Skye Manufacturing reported the following Beginning work in procesa inventory Units started this period Units completed and transferred out Ending work in process inventory Production cost information for the Painting department follows Beginning work in process Direct materials. Conversion Costs added this period Direct materials Conversion $ 29,400 6,950 Multiple Choice $ 235,700 590,015 Unite 23,500 122,000 127,000 18,500 36,350 825,715 Direct materials Conversion Percent Percent Complete BON 30% Complete 20% Help Save & Ret Skye Manufacturing uses the weighted-average method of process costing, compute the cost per equivalent unit for direct materials and conversion espectively for the Painting department. V
D Question 11 A company had a beginning work in process (WIP) inventory balance of $32.900. During the year, $55,100 of direct materials was placed into production Direct labor was $64,400, and Indirect labor was $19,900. Manufacturing overhead is allocated at 140% of direct labor costs. Actual manufacturing overhead was $86,500, and Cost of Goods Manufactured totaled $225,400. What is the ending work in process inventory balance? # $90.160 O $17.160. O $13.500 Ⓒ$187.4460
Current Attempt in Progress The manufacturing operations of Blossom, Inc. had the following balances at the beginning and end of January: Inventories January 1 January 31 Raw materials $12,240 $13,260 Work in process 21,420 23,460 Finished goods 14,280 16,320 Blossom transferred $295,800 of completed goods out of Work in Process Inventory during January. Compute the cost of goods sold for the month. Cost of goods sold $