User Account

All Pages

Calculate the equivalent units using the fifo method

Assignment Help Accounting Basics
Reference no: EM131808675

Problem

Quad Company produces products using a process costing system.

No spoilage or transferred-in costs.

The following information is available for the current month: (DM=Direct Materials % Complete, CC=Conversion Costs %Complete)

Beginning WIP

3,000

DM 40%

CC 70%

Ending WIP

4,500

DM 30%

CC 65%

Units started

11,100

Required:

1. Calculate the equivalent units using the FIFO method.
2. Calculate the equivalent units using the Weighted Average method.

Reference no: EM131808675

Questions Cloud

Problem on randomly selected registered voters : A recent poll of 809 randomly selected registered voters revealed that 426 plan to vote for your candidate in the coming election.
Employees are responsible for their own career development : At Microsoft, employees are responsible for their own career development. Using the material on the business case for diversity,
Where did victim-impact statements originate : What term refers to problems that follow from the initial victimization, such as the loss of employment or inability to pay medical bills?
Calculate the total cost of taking the aplication : Required: Calculate the total cost of taking the aplication, processing and approving the Joneses' mortgage
Calculate the equivalent units using the fifo method : Calculate the equivalent units using the FIFO method. Calculate the equivalent units using the Weighted Average method.
Difference between claimed and actual mean weight : Is there a significant difference between claimed and actual mean weight today? Justify your answer.
Evaluate the efforts in terms of effective response : Evaluate the efforts in terms of effective response, preparation (or lack thereof), mitigation, and total recovery.
What is exactly bowles argument : What is exactly Bowles argument and how sucessful is he explaining it in his book Capitalism by Paul Bowles
Prepare multiple-step income statement of dickinson company : On September 15, Dickinson sold the wholesale operations to Rogers Company. Prepare a multiple-step income statement and statement of retained earnings

Reviews

Write a Review

Accounting Basics Questions & Answers

  What can you learn from the financial statements

What can you learn from the financial statements of competitors that determine the relative cost position of your company?

  Bosques corporation has in stock 35800 kilograms of

bosques corporation has in stock 35800 kilograms of material l that it bought five years ago for 5.55 per kilogram.

  Statement of mining exploration expenditures

In 2009, Ray incurs $60,000 of mining exploration expenditures, and deducts the entire amount for regular income tax purposes. Which of the following statements is incorrect?

  How do you come up with book to tax differences on a tax

how do you come up with book to tax differences on a tax return schedule c for depreciation ammortization and

  Difference between absorption costing and variablting

What is the basic difference between absorption costing and variablting? Explain how fixed manufacturing overhead costs are shifted from one period to another under absorpti sting.

  What is unearned revenue and why is it considered liability

What is unearned revenue and why is it considered a liability? When is unearned revenue recognized in the financial statements?

  What is a liquidating distribution what is a nonliquidating

what is a liquidating distribution? what is a nonliquidating distribution? provide an example of each.what is an

  Bond journal entries

Crow Co. issued 493,000 of 10%, 20 yr. bonds on Jan, 1, 2010, at face value. Interest is payable annually on Jan. 1. Prepare journal entries to record the last of the following events:

  Calculate the predetermined overhead allocation rate

Calculate the predetermined overhead allocation rate, and prepare the journal entry for the allocation of overhead

  What is the total manufactoring cost

The job cost sheet for Job shows that $23,264 in direct materials has been used on the job and that $10,200 in direct labor cost has been incurred. A total of 1,300 units were produced in Job 313. What is the total manufactoring cost?

  Preparing the journal entries problem

please these one cant figure out how to prepare journal entries for these please help me.

  Variable costs fixed costs mixed costs classify each cost

Variable costs Fixed costs Mixed costs Classify each cost above as either variable, fixed, or mixed. Direct Materials Direct Labor Utilities Rent Maintenance Supervisory salaries

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd