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Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method to account for units and costs. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June):
The June 1 work in process inventory consisted of 5,000 pounds with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June 37,500 pounds were started into production. The June 30 work in process inventory consisted of 8,000 pounds that were 100% complete with respect to materials and 40% complete with respect to conversion.
Also what are the equivalent units of production for conversion and what is the total cost accounted for/to be accounted for?
The normal selling price is $18 per unit. The company's capacity is 12,000 units per month. Due to the University of Alabama participating in the BCS National Championship Game, an order has been received from a retailer for 2,000 additional T-shi..
hagar co. computed an overhead rate for machining costs 1500000 of 15 per machine hour. machining costs are driven by
On June 1, 2012, Dalton Production Company had beginning balances as shown in the T-accounts below. Materials inventory Work in process inventory Finished goods inventory Manufacturing overhead 10,000 20,000 25,000 41,000 During June.
Soldan Corporation purchased a computer on December 31,2011, paying 30,000 down and a further payment due on December 31,2014.An interest rate of 10% is implicit in the purchase price. Soldan uses the Effective method and has December the 31 as y..
Explain what each of the different responsibility centers is and what each is accountable for and why each center has its own budget. Give an example of the kinds of decisions where incremental analysis would be used in each center.
On March 15, it issues 5,000 shares of common stock to attorneys in settlement of their bill of $50,000 for organization costs. Journalize the issuance of the shares, assuming the stock is not publicly traded.
which of the following is false regarding the issue of stock versus the issue of bonds to raise capital?the issuance of
A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings equals:
Pullman Corporation acquired a 90% interest in Sleeper Company for $6,500,000 on January 1 2010. At that time Sleeper Company had common stock of $4,500,000 and retained earnings of $1,800,000.
Identify the limitations of the internal control system. Provide at least 3 limitations. Provide at least 2 examples of internal control procedures, and explain how these procedures can be implemented.
If purchases for April, May, and June were $200,000, $160,000, and $250,000, respectively, what was the firm's budgeted payables balance on June 30?
a department had 600 units which were 40 complete in beginning goods in process inventory. during the current period
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