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20-03 20=07 Equivalent Units of Production The following information concerns production in the Baking Department for...

  1. 20-03 20=07

  2. 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.
    Date Item Debit Credit Balance
    Debit Credit
    March 1 Bal., 6,900 units, 2/5 completed 26,220
    31 Direct materials, 124,200 units 235,980 262,200
    31 Direct labor 64,140 326,340
    31 Factory overhead 36,084 362,424
    31 Goods finished, 126,000 units 351,102 11,322
    31 Bal. ? units, 2/5 completed 11,322

    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 Direct Materials
    Equivalent Units    		 Conversion Equivalent Units
    Inventory in process, March 1
    Started and completed in March
    Transferred to finished goods in March
    Inventory in process, March 31
    Total

Solutions

Expert Solution

a. Determine the number of units in work in process inventory at March 31.
units

Beginning Units in WIP 6900
Add Material added during March 124200
Less Units transferred to finished goods 126000
Number of units in work in process inventory at March 31 5100

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 Direct Materials Conversion Equivalent Units
Equivalent Units
Inventory in process, March 1 (3/5 units Conversion processed in march)=6900*3/5 6900 0 4140
Started and completed in March (100% completed) 119100 119100 119100
Transferred to finished goods in March 126000 119100 123240
Inventory in process, March 31 5100 5100 2040
Total 131100 124200 125280

ekkarill92 answered 3 months ago
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