Question

Help please, don't have time. due 11:59pm 02/29. Please answer all. thanks!
4. Compute the equivalent units of production for materials. Equivalent units of production for materials

Answer 1

Journal entries
TR	General Journal				Debit	Credit
1)	Work in process-Mixing				120,205
	Raw materials inventory					120,205
2)	Work in process-Mixing				98,000
	Manufacturing overhead					98,000

3)	Completed & transferred out				34,500
4)	Equivalent units of production for materials				42,700
5)	Equivalent units of production				38,600
6)	Total cost of materials				138,775
7)	Total cost of conversion				194,930
8)	Cost per equivalent units pf materials				3.25
9)	Cost per equivalent units				5.05
10)	Cost of ending wip inventory for materials				26650

Working

Beginning work in process inventory				5,100	Completed & transferred			34,500
started during the year				37,600	Ending work in process			8,200
units to be accounted				42,700	units accounted for			42,700
Equivalent units
				% mat	Materials	% CC	Conversion
Completed & transferred			34,500	100%	34,500	100%	34,500
ending work in process			8,200	100%	8,200	50%	4100
			42,700		42,700		38,600
cost per unit
				Materials	CC	Total
Beginning work in process				18,570	16,430	35,000
cost added during the year				120,205	178500	298,705
total cost				138,775	194,930	333,705
equivalent units				42,700	38,600
cost per unti				3.25	5.05
cost of ending work in process inventory.
materials		8,200	*	3.25	=	26650
conversion		4,100	*	5.05	=	20705
cost of ending work in process inventory.							47355
cost of goods transferred to finished goods
materials		34,500	*	3.25	=	112125
conversion		34,500	*	5.05	=	174225
cost of ending work in process inventory.							286350