Financial Accounting: Information for Decisions
Financial Accounting: Information for Decisions
9th Edition
ISBN: 9781260158809
Author: Wild, John
Publisher: MCGRAW-HILL HIGHER EDUCATION
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The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Transaction Debit amount Transaction Credit amount Bal., 3,000 units, 45% completed 6,900 To Finished Goods, 69,000 units ? Direct materials, 71,000 units @ $1.4 99,400     Direct labor 106,400     Factory overhead 41,440     Bal., ? units, 55% completed ?     Cost per equivalent units of $1.40 for Direct Materials and $2.10 for Conversion Costs. a.  Based on the above data, determine the different costs listed below. Line Item Description Amount 1.  Cost of beginning work in process inventory completed this period fill in the blank 1 of 4$ 2.  Cost of units transferred to finished goods during the period fill in the blank 2 of 4$ 3.  Cost of ending work in process inventory fill in the blank 3 of 4$ 4.  Cost per unit of…
Hii expert please given correct answer financial accounting
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., 6,300 units, 4/5 completed     16,884   31 Direct materials, 113,400 units 226,800   243,684   31 Direct labor 64,390   308,074   31 Factory overhead 36,212   344,286   31 Goods finished, 114,900 units   332,958 11,328   31 Bal., ? units, 2/5 completed     11,328   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…
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