Given answer accounting questions On March 1, 2019, Baltimore Company's beginning work inprocess inventory had 6,500 units. This is its only productiondepartment. Beginning WIP units were 50% complete's toconversion costs. Baltimore introduces direct materials at thebeginning of the production process. During March, a total of28,800 units were started and the ending WIP inventory had7,800 units which were 30% complete's to conversion costs.Baltimore uses the weighted average method.Use this information to determine for March 2019 the equivalentunits of production for conversion costs.

Step 1: Define Work-in-Process InventoryThe work-in-process inventory contains the products to which…

Answered: On March 1, 2019, Baltimore Company's…

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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On March 1, 2019, Glacier Company's beginning work in process inventory had 5,000 units. This is its only production department. Beginning WIP units were 50% complete to conversion costs. It introduces direct materials at the beginning of the production process. During March, a total of 28,200 units were started and the ending WIP inventory had 7,000 units which were 60% complete to conversion costs. Glacier uses the weighted average method. Determine for March 2019 the equivalent units of production for conversion costs.
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"Gardenia Company uses the weighted-average method. It had P8,000 of conversion cost in the beginning Work in Process Inventory ånd added P64,000 of conversion cost during 2019. The company completed 40,000 equivalent units for conversion costs during the year. The company had 10,000 units in the ending Work in Process Inventory that were 30% complete as to conversion. 25. The amount of conversion cost assigned to the unit in process. a. P12,600 b. P 5,400 c. P11,200 d. P 4,800
Al Zahra Company manufactures a nutrient, Everlife, through two manufacturing processes: Blending and Packaging. All materials are entered at the beginning of each process. On March 1, 2019, inventories consisted of Raw Materials $5,000, Work in Process – Blending $0, Work in Process – Packaging $3,945, and Finished Goods $7,500. The beginning inventory for Packaging consisted of 500 units, two-fifths complete as to conversion costs and fully complete as to materials. During March, 9,000 units were started into production in Blending, and the following transactions were completed. 1. Purchased $52,000 of raw materials on account. 2. Issued raw materials for production: Blending $28,930 and Packaging $10,140. 3. Incurred labour costs of $33,770. 4. Used factory labour: Blending $15,320 and Packaging $10,450. 5. Incurred $47,500 of manufacturing overhead on account. 6. Applied manufacturing overhead at the rate of $35 per machine hour. Machine hours were Blending 900 and Packaging 300.…
The Morning Star Company had 25,000 units in process on December 31, 2019 which was 80% complete as to materials but only 40% complete as to conversion costs. The company's records show 45,000 units were transferred to the Finished Goods Inventory during January 2020. On January 31, 2017, 17,000 units were on hand which were 30% complete as to conversion costs and 60% complete as to materials. What are the equivalent units of production for the conversion costs in January, assuming Morning Star uses first-in, first-out (FIFO)?
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Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2020, inventories consisted of Raw Materials $27,700, Work in Process—Mixing $0, Work in Process—Packaging $254,200, and Finished Goods $294,200. The beginning inventory for Packaging consisted of 13,000 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 54,700 units were started into production in the Mixing Department and the following transactions were completed. 1. Purchased $304,400 of raw materials on account. 2. Issued raw materials for production: Mixing $212,500 and Packaging $49,000. 3. Incurred labor costs of $284,300. 4. Used factory labor: Mixing $186,500 and Packaging $97,800. 5. Incurred $956,400 of manufacturing overhead on account. 6. Applied manufacturing overhead on the basis of $22 per machine hour.…
By how much did the conversion cost EUP for the month of October using average method exceed the conversion EUP for the same month using FIFO method?
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Blossom Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2025, inventories consisted of Raw Materials $26,520, Work in Process- Mixing $0, Work in Process-Packaging $255,000, and Finished Goods $294,780. The beginning inventory for Packaging consisted of 10,200 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 51,000 units were started into production in the Mixing Department and the following transactions were completed. 1. 2. 3. 4. 5. 6. 7. 8. 9. Purchased $306,000 of raw materials on account. Issued direct materials for production: Mixing $214,200 and Packaging $45,900. Incurred labor costs of $284,478. (Use Wages Payable.) Used factory labor: Mixing $186,150 and Packaging $98,328. Incurred $826,200 of manufacturing overhead on account. Applied manufacturing overhead on the basis of $23 per machine…
Using the information below, prepare a Cost of Production Report for CD Corporation's Packaging Department for May 2019 On May 1, 2019 the following were reported: Inventory In-Process-Packaging (5,500 units, 20% complete) Finished Goods (700 units at $7.25 a unit) 17,500 5,075 The following were charged to Work in Process- Packaging during May: Direct Materials transferred from Mixing 14,000 units @ $6.25 a unit. 87,500 Direct Labor 12,000 Factory Overhead 4,800 During May -15,500 units were transferred to finished goods and 13,700 units were sold. On May 30 Inventory was as follows Inventory in Process - Packaging: 4,000 units (40% complete) Finished Goods - 2,500 units

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