Reference no: EM131215739
Calculating Equivalent Units:
Conte Chemical Company uses the weighted average method. All materials are added at the start of the production process. Labor and Overhead are added evenly at the same rate throughout the process. Conte's records indicate the following data for May:
Beginning Work in Process, May 1 (50% complete)...................................1,000 units
Started in May........................................................................................5,000 units
Completed and transferred......................................................................4,000 units
Ending work in process, on May 31: is 75% completed as to labor and factory overhead. Make the following calculations:
a. Equivalent units for direct materials
b. Equivalent units for labor and overhead.
|
Cash proceeds fair market value nature of disposition
: Cost Accumulated Depreciation Cash Proceeds Fair Market Value Nature of disposition. Land: On February 15, a condemnation award was received as consideration for unimpoved land held primarily as an investment, and on March 31, another parcel of unimp..
|
|
Sporting goods manufacturer-periodic inventory system
: Smith & Sons Inc. is a sporting goods manufacturer. The firm uses a periodic inventory system. Smith & Sons shipped $30,000 of defective goods to a retailer. The retailer and Smith & Sons agreed that the retailer would keep the goods in exchange for ..
|
|
Reporting issuance and retirement of long-term debt
: On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds:
|
|
What was the fixed budget profit for the period
: A company has recorded the following variances for a period:Sales volume variance $10,000 adverse Sales price variance $5,000 favourable Total cost variance $12,000 adverse Standard profit on actual sales for the period was $120,000. What was the fix..
|
|
Calculating equivalent units
: Conte Chemical Company uses the weighted average method. All materials are added at the start of the production process. Labor and Overhead are added evenly at the same rate throughout the process. Conte's records indicate the following data for May:
|
|
What is predetermined overhead rate for the year
: Milsaps Company produces sportsmen’s digital scales. In preparing the current budget, Milsaps’ controller estimates a total of $294,000 in direct materials cost, $231,000 in direct labor cost, and $279,510 in manufacturing overhead costs. What is Mil..
|
|
What is the journal entry for the interest payment
: Co's pays $36k in interest on notes, consisting of $24 interest that accured during the last accouting period +$12k of interest accumulated during this accounting period but not previously recorded. What is the Journal Entry for the interest payment.
|
|
Does the excerpt describe a loss contingency
: The Dow Chemical Company provides chemical, plastic, and agricultural products and services to various consumer markets. The following excerpt is taken from the disclosure notes of Dow’s 2013 annual report: In total, the Company’s accrued liability f..
|
|
Find the financial statements for a publicly traded company
: Find the financial statements for a publicly traded company, and examine its statement of cash flows. Prepare the cash ratios and prepare an overview (300 words) of what is revealed about the company by its statement of cash flows and cash ratios. Po..
|