Equivalent Units of Production and Related CostsThe charges to Work in Process—Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the weighted average cost method, and all direct materials are placed in process during production.Work in Process—Baking DepartmentBal., 2,700 units, 60% completed5,265To Finished Goods, 19,400 units?Direct materials, 19,700 units56,145 Direct labor27,449 Factory overhead14,141 Bal., 3,000 units, 40% completed? If required, round cost per equivalent unit answer to two decimal places.a. Determine the number of whole units to be accounted for and to be assigned costs.fill in the blank unitsb. Determine the number of equivalent units of production.fill in the blank unitsc. Determine the cost per equivalent unit. $ fill in the blank per equivalent unitd. Determine the cost of units transferred to Finished Goods.$ fill in the blanke. Determine the cost of units in ending Work in Process.$ fill in the blank

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Answered: Equivalent Units of Production and…

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 24E

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Equivalent Units of Production and Related Costs

The charges to Work in Process—Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the weighted average cost method, and all direct materials are placed in process during production.

Work in Process—Baking Department
Bal., 2,700 units, 60% completed	5,265	To Finished Goods, 19,400 units	?
Direct materials, 19,700 units	56,145
Direct labor	27,449
Factory overhead	14,141
Bal., 3,000 units, 40% completed	?