do them I\'ll rate I did half please complete them thanks appreciate it 1. Equiv

Question

do them I'll rate I did half please complete them thanks appreciate it

1.

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.

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

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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 "0".

Total

2.

Cost of Production and Journal Entries

Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking production. The following information concerns production in the Papermaking Department for March.

a1. Prepare the March journal entry for the Papermaking Department for the materials charged to production.

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a1. Remember there are three different types of inventory; materials, work in process, and finished goods.

a2. Prepare the March journal entry for the Papermaking Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank.

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a2. What types of costs are included in conversion costs? By adding these conversion costs are the units complete and ready for transfer?

a3. Prepare the March journal entry for the Papermaking Department for the completed production transferred to the Converting Department. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar.

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a3. Remember that each department has a work in process account. Are these units 100% complete and ready to be sold or are they still in process?

b. Determine the Work in Process—Papermaking Department March 31 balance. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar.
$

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit March. 1 Bal., 7,500 units, 2/5 completed 30,000 31 Direct materials, 135,000 units 270,000 300,000 31 Direct labor 79,040 379,040 31 Factory overhead 44,458 423,498 31 Goods finished, 136,800 units 409,020 14,478 31 Bal. ? units, 3/5 completed 14,478

Explanation / Answer

Solution 1a:

Nos of unit in WIP at March 31 = Opening WIP + Unit started - Unit finished

= 7500 + 135000 - 136800 = 5700 units

Nos of units were in process during the period = Opening WIP + Unit started = 7500 + 135000 = 142500

Units completed during the period = 136800 units

Solution 1b:

Note: There are multiple question posted. As per chegg policy i answered first question completely. Kindly post separate question for solution of 2nd question.

Baking department Computation of Equivalent unit (FIFO) Particulars Physical units Material Conversion Units to be accounted for: Beginning WIP Inventory 7500 Units started this period 135000 Total unit to be accounted for 142500 Units Accounted for: Units completed and transferred out From beginning inventory
Material - 0%
Conversion - 3/5 7500 0 4500 Started and completed currently 129300 129300 129300 Units in ending WIP
Material - 100%
Conversion - 3/5 5700 5700 3420 Total units accounted for 142500 135000 137220

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