Response to the following problem:
The following information concerns production in the Finishing Department for March. The Finishing Department uses the average cost method.
ACCOUNT Work in Process-Finishing Department
|
Date
|
Item
|
|
|
Mar. 1
|
Bal., 15,000 units, 40% completed
|
24,600
|
|
31
|
Direct materials, 144,000 units
|
345,000
|
|
31
|
Direct labor
|
163,200
|
|
31
|
Factory overhead
|
86,700
|
|
31
|
Goods transferred, 142,500 units
|
-578,550
|
|
31
|
Bal., ? units, 60% completed
|
40,950
|
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 forMarch.