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The following information concerns production in the Finishing Department for May. The Finishing Department uses the average cost ACCOUNT Work in Process-Finishing Department ACCOUNT NO.
The following information concerns production in the Finishing Department for May. The Finishing Department uses the average cost ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May 1 Bal., 23,500 units, 80% completed 94,000 31 Direct materials, 115,200 units 281,088 375,088 31 Direct labor 174,300 549,388 31 Factory overhead 177,100 726,488 31 Goods transferred, 122,200 units 698,984 27,504 31 Bal. 2 units, 25% completed 27,504 3. Determine the number of units in work in process inventory at the end of the month 16,500 units
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