The charges to Work in Process—Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials are placed in process during production. Work in Process—Baking Department Bal., 2,500 units, 40% completed 3,425 To Finished Goods, 18,000 units ? Direct materials, 18,300 units 36,417 Direct labor 19,165 Factory overhead 9,873 Bal., 2,800 units, 60% completed ? If required, round cost per equivalent unit answer to two decimal places. a. Determine the number of whole units to be accounted for and to be assigned costs. fill in the blank 1 units b. Determine the number of equivalent units of production. fill in the blank 2 units c. Determine the cost per equivalent unit. $fill in the blank 3 per equivalent unit d. Determine the cost of the units transferred to Finished Goods. $fill in the blank 4 e. Determine the cost of units in ending Work in Process.
The charges to Work in Process—Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials are placed in process during production.
| Work in Process—Baking Department | |||
|---|---|---|---|
| Bal., 2,500 units, 40% completed | 3,425 | To Finished Goods, 18,000 units | ? |
| Direct materials, 18,300 units | 36,417 | ||
| Direct labor | 19,165 | ||
| Factory overhead | 9,873 | ||
| Bal., 2,800 units, 60% completed | ? |
If required, round cost per equivalent unit answer to two decimal places.
a. Determine the number of whole units to be accounted for and to be assigned costs.
fill in the blank 1 units
b. Determine the number of equivalent units of production.
fill in the blank 2 units
c. Determine the cost per equivalent unit.
$fill in the blank 3 per equivalent unit
d. Determine the cost of the units transferred to Finished Goods.
$fill in the blank 4
e. Determine the cost of units in ending Work in Process.
Work in process inventory includes those inventory value which are in the production or which are not completed yet and the work in process inventory include direct materials, direct labor and factory overhead which are essential to make work in process inventory to finished goods.
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