ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 1 Bal., 4, 200 units, 70% completed Direct materials, 23,600 units Direct labor 36,500 May 125,800 31 162,300 31 75,400 237,700 Factory overhead 31 82,675 320,375 31 Goods transferred, 24,700 units 308,750 11,625 31 Bal., ? units, 30% completed 11,625

Question

The following information concerns production in the Finishing Department for May. The Finishing Department uses the average cost method.

Attachment

a. Determine the number of units in work in process inventory at the end of the month.
b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May.

ACCOUNT Work in Process-Finishing Department
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
1 Bal., 4, 200 units, 70% completed
Direct materials, 23,600 units
Direct labor
36,500
May
125,800
31
162,300
31
75,400
237,700
Factory overhead
31
82,675
320,375
31
Goods transferred, 24,700 units
308,750
11,625
31
Bal., ? units, 30% completed
11,625
Expand
Transcribed Image Text

ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 1 Bal., 4, 200 units, 70% completed Direct materials, 23,600 units Direct labor 36,500 May 125,800 31 162,300 31 75,400 237,700 Factory overhead 31 82,675 320,375 31 Goods transferred, 24,700 units 308,750 11,625 31 Bal., ? units, 30% completed 11,625

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