Assignment: 20-3 Homework - Exercise 20-7 (Algorithmic) CENGAGE QUESTION #2 Equi

Question

Assignment: 20-3 Homework - Exercise 20-7 (Algorithmic)

CENGAGE QUESTION #2

Equivalent Units of Production

The following information concerns production in the Baking Department for May. All direct materials are placed in process at the beginning of production.

Hint(s)

A. Determine the number of units in work in process inventory at the end of the month.
4200 units (answer)

B. Determine the equivalent units of production for direct materials and conversion costs in May. If an amount is zero, enter in "0".

Baking Department

Equivalent Units of Production for Direct Materials and Conversion Costs

For May

Whole Units

Equivalent Units Direct Materials

Equivalent Units Conversion

Inventory in process, May 1

  

  

  

Started and completed in May

  

  

  

Transferred to finished goods in May

  

  

  

Inventory in process, May 31

  

  

  

Total

  

  

  

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May. 1 Bal., 5,400 units, 2/3 completed 6,480 31 Direct materials, 97,200 units 174,960 181,440 31 Direct labor 49,830 231,270 31 Factory overhead 28,026 259,296 31 Goods finished, 98,400 units 249,720 9,576 31 Bal. ? units, 3/5 completed 9,576

Explanation / Answer

WHOLE UNITS EQUIVELENT UNITS FOR DIRECT MATERIAL EQUIVELENT UNITS FOR CONVERSION INVENTORY IN PROCESS IN MAY 1 5400 0 1800 (5400 * 1/3) STARTED & COMPLITED IN MAY 93000 (98400 - 5400) 93000 93000 TRANSFERED TO FINISHED GOODS 98400 93000 94800 INVENTORY IN PROCESS MAY 31 4200 4200 2520 (4200 * 3/5) TOTAL 97200 97320

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