User Account

All Pages

Calculate the total value of the units transferred

Assignment Help Cost Accounting
Reference no: EM132797824

Question - Farmers Ltd operates a process costing system. Details of process 1 are as follows: All materials used are added at the beginning of the process. Labour costs and production overhead costs are incurred evenly as the product goes through the process. Production overheads are absorbed at a rate of 100% of labour costs.

The following details are relevant to production in the period:

Units Materials Labour and production overheads

Opening inventory 200 100% complete 75% complete

Closing inventory 100 100% complete 50% complete

Opening inventory

Costs associated with these opening units are $1,800 for materials. In addition, $4,000 had been accumulated for Labour and overhead costs.

Period costs: Costs incurred during the period were:

Materials $19,000

Labour $19,000

During the period 2000 units were passed to Process 2 there were no losses.

You are required to prepare the Equivalent Unit Statement to calculate the total value of the units transferred to Process2.

Reference no: EM132797824

Questions Cloud

How much commission will be earned : A car salesman makes 10% on the first $10,000 an 12% on all sales over $10,000. How much commission will be earned on $22,500 in sales
Human trafficking and kidnapping : Human trafficking and kidnapping. Each year more and more boys and girls are being involved in human trafficking.
Differences between viruses and worms : Many people are confused about the differences between viruses and worms. Why?
Explain the meaning of restricted stock : Explain the meaning of Restricted Stock. State its advantages. Explain the reasons for which a company would buy its own stock
Calculate the total value of the units transferred : You are required to prepare the Equivalent Unit Statement to calculate the total value of the units transferred to Process2
Law enforcement officials : Find a local sex crime case that was covered in the local media and discuss the case.
What would be the effect on sales of cutting : Describing your analytical approach in detail. Include any graphs generated - What would be the effect on sales of cutting the advertising budget
What benefits would be achieved by each approach : This course in quantitative methods is intended to provide a valuable tool in your toolbox of professional skills when you are dealing with real-world decisions
Find the asset incomes : Suppose a company must make payments of 300 at time t = 3 and 500 at time t = 5, and the annual interest rate is 4%. Find the asset incomes

Reviews

Write a Review

Cost Accounting Questions & Answers

  Overhead cost allocated to beta

Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets to its commercial customers.

  Why do need to use factory overhead application rate

Why do we need to use factory overhead application rate ? Explain. Determine the over- or underapplied overhead for the year

  Find what is the inventory turnover rate

Hootman Shipping, At the end of the year, the inventory balance was $71,800. What is the inventory turnover rate? (Assume a 365-day year)

  Question bemidji manufacturing manufactures laptop

question bemidji manufacturing manufactures laptop computers in three departments assembly packaging and testing. prior

  How do compute the number of units to be sold

Compute the number of units to be sold to make a net income of P 60,000 assuming selling price per unit is increased by P 2.00

  How does goodwill arise

How does goodwill arise and come to be reported on the balance sheet and how is the amount calculated? What does goodwill represent? Will we tend to see a higher or lower amount of goodwill in slower economic times?

  Calculate elaine current basic in her partnership interest

Elaine's original basic in the hornbeam partnership was 25,000. her share of the taxable income from the partnership since she purchase the interest has been 100,000 and Elaine has received 75000 in cash distribution from the partnership.

  How much will be the sales price of the job

Direct labor of 50 per unit and overhead of 50% of DL per unit. GP rate is 40% above cost. How much will be the sales price of the Job?

  How much would be allocated to meats

Family Supermarkets currently uses a single-driver system to allocate period costs to its product lines. The single driver that is used is the Cost of Goods Sold for each product line. Using this system, compute the allocation to Packaged Foods.

  How should annual management fee be allocated to buildings

Assuming November is a representative month for the year, how should the annual management fee be allocated to the four apartment buildings?

  What entries should be made after each game

Helena University sold 9,000 season football tickets at $100 each for its five-game home schedule. What entries should be made.

  Balance of the forfeited shares account

Prepare the journal entries to record the transactions of Panorama Ltd up to and including that which took place on 16 June 2012. Show all workings.

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