Equivalent Units of Production The following information concerns production in the Baking Department for March. 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 Mar. 1 Bal., 5,400 units, 4/5 completed 4,320 31 Direct materials, 97,200 units 194,400 198,720 31 Direct labor 55,640 254,360 31 Factory overhead 31,300 285,660 31 Goods finished, 98,400 units 274,992 10,668 31 Bal. ? units, 3/5 completed 10,668 a. Determine the number of units in work in process inventory at March 31. units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Whole Units Equivalent Units Equivalent Units Direct Materials Conversion Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total

Equivalent Units of Production The following information concerns production in the Baking Department for March. 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 Mar. 1 Bal., 5,400 units, 4/5 completed 4,320 31 Direct materials, 97,200 units 194,400 198,720 31 Direct labor 55,640 254,360 31 Factory overhead 31,300 285,660 31 Goods finished, 98,400 units 274,992 10,668 31 Bal. ? units, 3/5 completed 10,668 a. Determine the number of units in work in process inventory at March 31. units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Whole Units Equivalent Units Equivalent Units Direct Materials Conversion Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total

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Description: Equivalent Units of ProductionThe following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking DepartmentACCOUNT NO.BalanceDate

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7E: The following information concerns production in the Baking Department for December. All direct...

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