### Production and Inventory Report for December**Inventory Data:**- **December 1:** Beginning balance of work in process—4,200 units, 2/5 completed - Cost: $7,560- **December 31:** - Direct materials: 75,600 units - Total cost: $113,400 - Cumulative cost: $120,960 - Direct labor: - Cost: $34,410 - Cumulative cost: $155,370 - Factory overhead: - Cost: $19,350 - Cumulative cost: $174,720 - Goods finished: 76,500 units - Cost: $168,384 - Cumulative cost: $6,336 (ending balance)- **December 31:** Ending balance—? units, 3/5 completed**Tasks:**- **a.** Determine the number of units in work in process inventory at December 31: - [Input Box] units- **b.** Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter "0".**Baking Department:**#### Equivalent Units of Production for Direct Materials and Conversion Costs_For December_| | Whole Units | Equivalent Units Direct Materials | Equivalent Units Conversion ||-------------------|-------------|----------------------------------|-----------------------------|| Inventory in process, December 1 | [Input Box] | [Input Box] | [Input Box] || Started and completed in December | [Input Box] | [Input Box] | [Input Box] || Transferred to finished goods in December | [Input Box] | [Input Box] | [Input Box] || Inventory in process, December 31 | [Input Box] | [Input Box] | [Input Box] || Total | [Input Box] | [Input Box] | [Input Box] | **Equivalent Units of Production**The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production.**ACCOUNT Work in Process—Baking Department**| Date | Item | Debit | Credit | Balance ||------|-------------------------------------|---------|---------|---------|| Dec. | 1 Bal., 4,200 units, 2/5 completed | | | 7,560 || 31 | Direct materials, 75,600 units | 113,400 | | 120,960 || 31 | Direct labor | 34,410 | | 155,370 || 31 | Factory overhead | 19,350 | | 174,720 || 31 | Goods finished, 76,500 units | | 168,384 | 6,336 || 31 | Bal., ? units, 3/5 completed | | | 6,336 |a. Determine the number of units in work in process inventory at December 31.[Input Box] unitsb. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter "0".**Baking Department**Equivalent Units of Production for Direct Materials and Conversion CostsFor December| | Whole Units | Equivalent Units Direct Materials | Equivalent Units Conversion ||-----------------------------|-------------|------------------------------------|-----------------------------|| Inventory in process, December 1 | [Input Box] | [Input Box] | [Input Box] |

Dec. 1 Bal., 4,200 units, 2/5 completed 31 Direct materials, 75,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 76,500 units 3 Bal., ? units, 3/5 completed 113,400 34,410 19,350 Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 a. Determine the number of units in work in process inventory at December 31. units Total 168,384 b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December 7,560 120,960 155,370 174,720 6,336 6,336 Whole Units Equivalent Units Equivalent Direct Materials Units Conversion

Dec. 1 Bal., 4,200 units, 2/5 completed 31 Direct materials, 75,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 76,500 units 3 Bal., ? units, 3/5 completed 113,400 34,410 19,350 Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 a. Determine the number of units in work in process inventory at December 31. units Total 168,384 b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December 7,560 120,960 155,370 174,720 6,336 6,336 Whole Units 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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5 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".
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department Date Item Debit Credit 161,460 47,970 26,982 ACCOUNT NO. 239,193 Balance Debit Dec. 1 Bal., 6,900 units, 3/5 completed 31 Direct materials, 124,200 units 31 Direct labor 31 Factory overhead 31 Goods finished, 126,000 units 31 Bal., ? units, 3/5 completed a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. Credit 11,247 172,707 220,677 247,659 8,466 8,466 00000 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for November and December, did the…
The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed 220 units Transferred to finished goods during June 5,100 units Equivalent units of production during June 5,495 units Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. a.360 units b.540 units c.675 units d.450 units
Equivalent Units of Production The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 8,400 units, 2/3 completed 10,640 31 Direct materials, 151,200 units 287,280 297,920 31 Direct labor 78,200 376,120 31 Factory overhead 43,992 420,112 31 Goods finished, 153,300 units 404,110 16,002 31 Bal., ? units, 4/5 completed 16,002
Date ACCOUNT Work in Process-Forging Department Nov. Item 1 Bal., 900 units, 60% completed 30 Direct materials, 12,900 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed $ Debit 123,840 21,650 16,870 $ Credit ? ACCOUNT NO. Balance Debit Direct materials cost per equivalent unit Conversion cost per equivalent unit 10,566 134,406 156,056 172,926 ? Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. Based on the above data, determine each of the following amounts. ? If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. Credit b. Cost of units transferred to the next department during November. $ c. Cost of ending work in process inventory on November 30. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in…
The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item August 1 Bal., 9,000 units, 2/5 completed 31 Direct materials, 162,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 164,100 units 31 Bal., ? units, 4/5 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 Debit Credit 275,400 74,380 41,834 a. Determine the number of units in work in process inventory at August 31. units 2002 394,380 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 Balance Balance Debit Credit 18,360 293,760 368,140…
Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 67,000 357,000 335,000 89,000 Completed and transferred out Ending work in process Total Direct Materials Percent Units 335,000 89,000 424.000 Complete Percent Complete 70% 30% 85% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Conversion Equivalent units of production: Weighted average method Direct Materials Percent Complete 85% 35% EUP Percent Complete Conversion EUP
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department Date Dec. Item 1 Bal., 6,600 units, 3/5 completed 31 Direct materials, 118,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 120,300 units 31 Bal., ? units, 3/5 completed Debit 190,080 53,490 30,090 Credit 276,492 ACCOUNT NO. Balance Debit 13,134 203,214 256,704 286,794 10,302 10,302 Credit a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process . Assuming that the direct materials cost is the same for November and December, did the…
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Vd Subject: accounting