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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Jan 2018 My Price 7.00

Finishing Department

equivalent units of production: average cost method

 

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

 

ACCOUNT Work in Process—Finishing Department

ACCOUNT NO.

 

 

 

 

Date

 

 

Item

 

 

Debit

 

 

Credit

Balance

Debit

Credit

 

May

 

1

 

Bal., 4,200 units, 70% completed

 

 

125,800

 

 

 

 

 

308,750

 

36,500

 

31

Direct materials, 23,600 units

162,300

31

Direct labor

75,400

237,700

31

Factory overhead

82,675

320,375

31

Goods transferred, 24,700 units

11,625

31

Bal., ? units, 30% completed

11,625

 

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.

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Jan 2018 10:01 PM My Price 7.00

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