Equivalent Units of Production: Weighted Average Method The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average method. ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Balance Balance Debit Credit 44,000 124,000 188,400 327,450 13,950 13,950 a. Determine the number of units in work in process inventory at the end of the month. 6,200 units Date Item May 1 Bal, 8,000 units, 70% completed 31 Direct materials, 40,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 41,800 units 31 Bal 2 units, 30% completed Debit Credit Whole units to be accounted for Whole units to be assigned costs Equivalent units of production 80,000 64,400 139,050 313,500 b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Assume that directi materials are placed in process during production. 48,000 units 44,200 X units 44,200 X units

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Equivalent Units of Production: Weighted Average Method
The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average method.
ACCOUNT Work in Process-Finishing Department
Date Item:
May 1 Bal., 8,000 units, 70% completed
31 Direct materials, 40,000 units
31 Direct labor
Debit Credit
44,000
124,000
188,400
31 Factory overhead
327,450
31 Goods transferred, 41,800 units
13,950
31 Bal 2 units, 30% completed.
13,950
a. Determine the number of units in work in process inventory at the end of the month.
6,200
units
Whole units to be accounted for
Whole units to be assigned costs,
Equivalent units of production)
80,000
64,400
139,050
313,500
ACCOUNT NO.
Balance Balance
Debit Credit
b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May, Assume that directi
materials are placed in process during production.
48,000 units
44,200 X units
44,200 X units
Transcribed Image Text:Equivalent Units of Production: Weighted Average Method The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average method. ACCOUNT Work in Process-Finishing Department Date Item: May 1 Bal., 8,000 units, 70% completed 31 Direct materials, 40,000 units 31 Direct labor Debit Credit 44,000 124,000 188,400 31 Factory overhead 327,450 31 Goods transferred, 41,800 units 13,950 31 Bal 2 units, 30% completed. 13,950 a. Determine the number of units in work in process inventory at the end of the month. 6,200 units Whole units to be accounted for Whole units to be assigned costs, Equivalent units of production) 80,000 64,400 139,050 313,500 ACCOUNT NO. Balance Balance Debit Credit b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May, Assume that directi materials are placed in process during production. 48,000 units 44,200 X units 44,200 X units
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