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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. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 6,900 units, 2/3 completed 5,980 31 Direct materials, 124,200 units 161,460 167,440 31 Direct labor 48,180 215,620 31 Factory overhead 27,108 242,728 31 Goods finished, 126,000 units 233,650 9,078 31 Bal., ? units, 4/5 completed 9,078 a. Determine the number of units in work in process 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". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December Equivalent Units Equivalent Whole Units Direct Materials Units Conversion Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 Total

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. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 6,900 units, 2/3 completed 5,980 31 Direct materials, 124,200 units 161,460 167,440 31 Direct labor 48,180 215,620 31 Factory overhead 27,108 242,728 31 Goods finished, 126,000 units 233,650 9,078 31 Bal., ? units, 4/5 completed 9,078 a. Determine the number of units in work in process 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". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December Equivalent Units Equivalent Whole Units Direct Materials Units Conversion Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 Total

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 6,900 units, 2/3 completed 5,980 31 Direct materials, 124,200 units 161,460 167,440 31 Direct labor 48,180 215,620 31 Factory overhead 27,108 242,728 31 Goods finished, 126,000 units 233,650 9,078 31 Bal., ? units, 4/5 completed 9,078 a. Determine the number of units in work in process 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". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December Equivalent Units Equivalent Whole Units Direct Materials Units Conversion Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 Total
Transcribed Image Text: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. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 6,900 units, 2/3 completed 5,980 31 Direct materials, 124,200 units 161,460 167,440 31 Direct labor 48,180 215,620 31 Factory overhead 27,108 242,728 31 Goods finished, 126,000 units 233,650 9,078 31 Bal., ? units, 4/5 completed 9,078 a. Determine the number of units in work in process 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". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For December Equivalent Units Equivalent Whole Units Direct Materials Units Conversion Inventory in process, December 1 Started and completed in December Transferred to finished goods in December Inventory in process, December 31 Total
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