Wheatmore Company manufactures cold cereal products, such as Frosted Flakes. Assume that the inventory in process on March 1 for the Packing Department included 1,020 pounds of acking machine hopper (enough for 680 24-oz. boxes) and 680 empty 24-oz. boxes held in the package carousel of the packing machine. During March, 56,440 boxes of 24-oz. cereal were packaged. Conversion costs are incurred when a box is filled with cereal. On March 31, the packing machine hopper held 1,320 pounds The package carousel held 880 empty 24-oz. (1%-lb.) boxes. Assume that once a box is filled with cereal, it is immediately transferred to the finished goods warehouse. Determine the equivalent units of production for cereal, boxes, and conversion costs for March. An equivalent unit is defined as "pounds" for cereal and "24-oz. boxes" for boxes and conv n amount box does not require an entry, leave it blank. Wheatmore Company Equivalent Units of Production for Cereal, Boxes, and Conversion Cost For March Conversion Cereal Boxes (in pounds) (in boxes) Cost (in boxes) Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total 00000 D

Wheatmore Company manufactures cold cereal products, such as Frosted Flakes. Assume that the inventory in process on March 1 for the Packing Department included 1,020 pounds of acking machine hopper (enough for 680 24-oz. boxes) and 680 empty 24-oz. boxes held in the package carousel of the packing machine. During March, 56,440 boxes of 24-oz. cereal were packaged. Conversion costs are incurred when a box is filled with cereal. On March 31, the packing machine hopper held 1,320 pounds The package carousel held 880 empty 24-oz. (1%-lb.) boxes. Assume that once a box is filled with cereal, it is immediately transferred to the finished goods warehouse. Determine the equivalent units of production for cereal, boxes, and conversion costs for March. An equivalent unit is defined as "pounds" for cereal and "24-oz. boxes" for boxes and conv n amount box does not require an entry, leave it blank. Wheatmore Company Equivalent Units of Production for Cereal, Boxes, and Conversion Cost For March Conversion Cereal Boxes (in pounds) (in boxes) Cost (in boxes) Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total 00000 D

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Description: Equivalent Units of ProductionWheatmore Company manufactures cold cereal products, such as Frosted Flakes. Assume that the inventory in process on March 1 for the Packing Department included 1,020 pounds of cereal in thepacking machine hopper (enoug

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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