The following information concerns production in the Baking Department for July. All direct materials are placed in
Question:
The following information concerns production in the Baking Department for July. All direct materials are placed in process at the beginning of production.
a. Determine the number of units in work in process inventory at the end of the month.
b. Determine the equivalent units of production for direct materials and conversion costs inJuly.
Transcribed Image Text:
ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit July 1 | 31 Direct materials, 162,000units307,800 31 Direct labor 31 Factory overhead 31 Goods finished, 157,400 units 31 Bal. units, completed Bal., 8,000 units, 36 completed 16,576 324,376 367,976 389,080 26,964 26,964 43,600 21,104 362,116
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 45% (11 reviews)
a Units in process July 1 8000 Units placed into product...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. a. Determine the number of units in work...
-
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...
-
The following information concerns production in the Baking Department for May. All direct materials are placed in process at the beginning of production. a. Determine the number of units in work in...
-
Consider the pistoncylinder arrangement shown in the sketch below. The gas forces on each side of the piston, assuming there are no frictional forces at the pistoncylinder interface, balance the...
-
In a gas refrigeration system air enters the compressor at 10oC, 50 kPa and the turbine at 50oC, 250 kPa. The mass flow rate is 0.08 kg/s. Assuming variable specific heat, determine (a) The rate of...
-
What types of information would you expect to find in a post-implementation review (PIR)?
-
What are the reasons for most companies having a poorly co-ordinated collection of environmental data? How are these reasons related to the distinction made between fixed and variable costs of...
-
At the beginning of each year, the Accounting Department at Moon Glow Lighting, Ltd., must find the point at which projected sales revenue will equal total budgeted variable and fixed costs. The...
-
Start from this step and calculate the NPV Total S$ cash flows remitted after withholding taxes using the following information: initial investment- $10,000,000 Salvage Value == $12,000,000 Hedged...
-
ACCT 110 Integrated Excel Assignment #2 - Instructor: Nicole Harris Part 1: Balance Sheet and Income Statement Instructions: Use the drop down list under the column "type of account" to categorize...
-
Units of production data for the two departments of Coastal Cable and Wire Company for September of the current fiscal year are as follows: If all direct materials are placed in process at the...
-
Oregon Products Inc. completed and transferred 72,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending in-...
-
At a large university, the Statistics Department has tried a different text during each of the last three quarters. During the fall quarter, 500 students used a book by Professor Mean; during the...
-
Motorized skateboards have been around since the early 1970s, but until Boosted Boards launched in 2012, almost no one noticed. Started by Stanford University engineering students Sanjay Dastoor,...
-
What is the residual dividend theory?
-
Fill in the blanks to make the following statements correct. a. Beginning with output equal to potential, suppose there is a sudden increase in demand for Canadian exports. This is a(n) __________...
-
A material is required for the windings of an electric heater for a sauna. The heating coils must be capable of temperatures up to \(800^{\circ} \mathrm{C}\). Think out what attributes a material...
-
Each of the following events caused a shift in the \(A D\) or \(A S\) curve in Canada. Identify which curve was affected and describe the effect on equilibrium real GDP and the price level. a. OPEC's...
-
A stock is currenly trading at 80. There are one-month calls and puts on the stock with strike prices of 70, 75, 80, 85, and 90. The price and delta of each of these options are given below: For each...
-
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
-
A computer sells for $1,500 U.S. dollars. In the spot market, $1 = 115 Japanese yen. If purchasing power parity holds, what should be the price (in yen) of the same computer in Japan?
-
Five selected transactions for the current month are indicated by letters in the followingT accounts in a job order cost accounting system: Describe each of the fivetransactions. Materials Work in...
-
Five selected transactions for the current month are indicated by letters in the followingT accounts in a job order cost accounting system: Describe each of the fivetransactions. Materials Work in...
-
Five selected transactions for the current month are indicated by letters in the followingT accounts in a job order cost accounting system: Describe each of the fivetransactions. Materials Work in...
-
On January 1 , 2 0 2 4 , Nath - Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two - year operating lease agreement from ComputerWorld Leasing,...
-
An examination of the cash activities during the year shows the following. GREAT ADVENTURES Cash Account Records July 1 , 2 0 2 4 , to December 3 1 , 2 0 2 4 Cash Receipts Cash Disbursements Date...
-
Given the data below answer the question. E F G H J Inventory Turnover Ratio Ending Inventory (Dec. 31st) $50,000 Month Ending Inventory Cost of Goods Sold Inventory Turnover Ratio Formulas January...
Study smarter with the SolutionInn App