Question
In: Accounting
On March 1, 2019, Baltimore Company's beginning work in process inventory had 7,500 units. This is...
On March 1, 2019, Baltimore Company's beginning work in process inventory had 7,500 units. This is its only production department. Beginning WIP units were 50% complete as to conversion costs. Baltimore introduces direct materials at the beginning of the production process. During March, a total of 22,400 units were started and the ending WIP inventory had 9,800 units which were 40% complete as to conversion costs. Baltimore uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs. (Round answer to the nearest whole number of units)
Solutions
Expert Solution
| Input/Output Reconciliation(Summery of Quantity schedule) | |
| Units be accounted for | Units |
| Units in beginning WIP Inventory | 7,500 |
| Units started/transferred in during the period | 22,400 |
| Total units be accounted for | 29,900 |
| Units transferred out | 20,100 |
| Units in ending WIP Inventory | 9,800 |
| Total units accounted for | 29,900 |
| i) Equivalent units calculations- Weighted Avg Method | |
| Conversion Cost | |
| Transferred out (A) | 20,100.00 |
| Units of ending WIP (B) | 9,800.00 |
| Percentage of completion of ending WIP (C) | 40% |
| Equivalent units in ending WIP (D=B×C) | 3,920.00 |
| Total equivalent units (A+D) | 24,020.00 |
The equivalent units of production for conversion costs for March 2019 = 24,020
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ekkarill92 answered 1 year agoRelated Solutions
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