Chapter 03 Homework (Application)eBook Show Me How Debit Credit 1 Bal., 7,200 un
ID: 2337873 • Letter: C
Question
Chapter 03 Homework (Application)eBook Show Me How Debit Credit 1 Bal., 7,200 units, 3/5 completed 31 Direct materials, 129,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 131,400 units 31 Bal. ? units, 3/5 completed Mar. 8,064 189,504 239,544 267,696 258,192 9,504 9,504 181,440 50,040 28,152 a. Determine the number of units in work in process inventory at March 31. units Check My Work How many units were in process during the period? How many units were completed during the period? b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "o Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Whole Units Equivalent Units Equivalent Units Direct Materials Conversion 7,201 v Lil v Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total 64 x 864 X Check My WorkExplanation / Answer
Answer
Units Reconciliation
Units to account for:
Beginning WIP
7,200
Units started this period
129,600
Total Units to account for
136,800
Total Units accounted for:
Completed & Transferred out
131,400
Ending WIP
5,400 [136,800 – 131,400]
Total Units accounted for
136,800
Answer: No. of units in Work In Process at Mar 31 = 5,400 units
Whole Units
Equivalent Units Direct Material
Equivalent Unit Conversion
Inventory in Process, Mar 1
7,200
-
2,880 [7200 x 2/5 = 2880 because 3/5 was already completed]
Started & Completed in Mar
124,200
124,200 [124200 x 100%]
124,200 [124200 x 100%]
Transferred to Finished Goods in Mar
131,400
124,200
127,080
Inventory in Process, Mar 31
5,400
5,400 [5400 x 100%]
3,240 [5400 x 3/5]
Total
136,800
129,600
130,320
Units Reconciliation
Units to account for:
Beginning WIP
7,200
Units started this period
129,600
Total Units to account for
136,800
Total Units accounted for:
Completed & Transferred out
131,400
Ending WIP
5,400 [136,800 – 131,400]
Total Units accounted for
136,800
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