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 Dec. 1 Bal., 8,400 units, 2/5 completed 31 Direct materials, 151,200 units 31 Direct labor 31 Factory overhead 31 Goods finished, 153,300 units 31 Bal., ? units, 2/5 completed Debit 241,920 68,300 38,422 Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 Total Credit 352,926 Whole Units ACCOUNT NO. Balance Debit a. Determine the number of units in work in process inventory at December 31. units 16,128 258,048 326,348 364,770 11,844 11,844 b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0". 8 Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December Equivalent Units Direct Materials Credit Equivalent Units Conversion

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 Dec. 1 Bal., 8,400 units, 2/5 completed 31 Direct materials, 151,200 units 31 Direct labor 31 Factory overhead 31 Goods finished, 153,300 units 31 Bal., ? units, 2/5 completed Debit 241,920 68,300 38,422 Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 Total Credit 352,926 Whole Units ACCOUNT NO. Balance Debit a. Determine the number of units in work in process inventory at December 31. units 16,128 258,048 326,348 364,770 11,844 11,844 b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0". 8 Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December Equivalent Units Direct Materials Credit Equivalent Units Conversion

Name: Equivalent Units of ProductionThe following information concerns prod
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Equivalent Units of ProductionThe following information concerns production in the BakingDepartment for December. All direct materials are placed inprocess at the beginning of production.ACCOUNT Work in Process-BakingDepartmentDateDec.Item1 Bal., 8,

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

Costs per Equivalent Unit 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. Balance Balance Date Item 0 Debit Credit Debit Credit August 1 Bal., 6,600 units, 4/5 completed 12,144 31 Direct materials, 118,800 units 166,320 178,464 31 Direct labor 45,340 223,804 31 Factory overhead 25,508 249,312 31 Goods finished, 120,300 units 240,336 8,976 31 Bal., ? units, 3/5 completed 8,976 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 1.33 X 2. Conversion cost per equivalent unit $ 0.60 3. Cost of the beginning work in process completed during August $ 792 X 4. Cost of units started and completed during August $ 219,441 X 7,584.16 X 5. Cost of the ending work in process b. Assuming that the direct materials cost is…
MetaThe 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 Debit Credit Balance Debit Balance Credit August 1 Bal., 7, 500 units, 2/5 completed 16, 500 31 Direct materials, 135,000 units 256,500 273,000 31 Direct labor 70, 840 343, 840 31 Factory overhead 39, 848 383, 688 31 Goods finished, 136, 800 units 369,210 14,478 31 Bal., ? units, 4/5 completed 14,478 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. Line Item Description Amount 1. Direct materials cost per equivalent unit $fill in the blank 1 2. Conversion cost per equivalent unit $fill in the blank 2 3. Cost of the beginning work in process completed during August $fill in the blank 3 4. Cost of units started and completed during August $fill in the blank 4 5. Cost of the ending 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 Date Item August 1 Bal., 36,000 units, 3/4 completed 31 Direct materials, 200,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 196,000 units 31 Bal., ? units, 1/2 completed Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest a. cent. Debit 450,000 207,900 680,400 Credit 1,361,660 ACCOUNT NO. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during August 4. Cost of units started and completed during August Balance Balance Debit Credit 207,360 657,360 865,260 1,545,660 184,000 184,000 00000 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per…
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 ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 8,700 units, 2/3 completed 15,370 31 Direct materials, 156,600 units 219,240 234,610 31 Direct labor 59,730 294,340 31 Factory overhead 33,594 327,934 31 Goods finished, 158,700 units 317,110 10,824 31 Bal. ? units, 2/5 completed 10,824 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 March $ 4. Cost of units started and completed during March $ 5. Cost of the ending work in process $ b. Assuming that the…
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 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 31 Bal., ? units, 3/5 completed Debit 113,400 34,410 19,350 Inventory in process, December 1 Credit 168,384 Whole Units ACCOUNT NO. Balance Debit a. Determine the number of units in work in process inventory at December 31. units 7,560 120,960 155,370 174,720 6,336 6,336 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 Credit Equivalent Units Equivalent Direct Materials Units Conversion
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, 2/5 completed Debit Credit 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 226,800 62,690 35,266 328,560 Balance Balance Debit Credit a. Determine the number of units in work in process inventory at August 31. units 15,120 241,920 304,610 339,876 11,316 11,316 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…
Costs per Equivalent Unit 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 ACCOUNT NO. Balance Date Mar. Item 1 Bal., 5,100 units, 4/5 completed 31 Direct materials, 91,800 units 31 Direct labor Debit 156,060 40,880 23,002 Credit Debit 222,996 11,322 167,382 208,262 231,264 8,268 8,268 31 Factory overhead 31 Goods finished, 93,000 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. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent…
answer both questions pls
The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. Date Item Debit Credit BalanceDebit BalanceCredit August 1 Bal., 5,100 units, 2/5 completed 12,240 31 Direct materials, 91,800 units 183,600 195,840 31 Direct labor 53,290 249,130 31 Factory overhead 29,978 279,108 31 Goods finished, 93,000 units 269,904 9,204 31 Bal., ? units, 2/5 completed 9,204 Question Content Area a. Determine the number of units in work in process inventory at August 31.fill in the blank 1 of 1 units Feedback Area Feedback How many units were in process during the period? How many units were completed during the period? Question Content Area b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0". Baking DepartmentEquivalent Units of Production…
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…
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 ACCOUNT NO. Balance Date Item Debit Credit Debit Credit March 1 1 Bal., 6,300 units, 2/5 completed 18,900 31 Direct materials, 113,400 units 170,100 189,000 31 Direct labor 52,070 241,070 31 Factory overhead 29,284 270,354 31 Goods finished, 114,900 units 260,466 9,888 31 Bal. ? units, 4/5 completed 9,888 a. Determine the number of units in work in process inventory at March 31. units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Direct Materials Whole Units Conversion Equivalent Units Equivalent Units Inventory in process, March 1 Started and completed in March…
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