Reference no: EM13940637
Tyrone Company produces a variety of stationery products. One product, sealing wax sticks, passes through two processes: blending and molding. The weighted average method is used to account for the costs of production. After blending, the resulting product is sent to the molding department, where it is poured into molds and cooled. The following information relates to the blending process for August:
a. WIP, August 1, had 20,000 pounds, 20 percent complete. Costs associated with partially completed units were:
Materials .................... $220,000
Direct labor .................... 30,000
Overhead applied ............. 10,000
b. WIP, August 31, had 30,000 pounds, 70 percent complete.
c. Units completed and transferred out totaled 500,000 pounds. Costs added during the month were (all inputs are added uniformly):
Materials .............. $5,610,000
Direct labor ............ 3,877,500
Overhead applied ...... 1,292,500
Required:
1. Prepare
(a) A physical flow schedule and
(b) An equivalent unit schedule.
Calculate the unit cost. Round to four decimal places.
Compute the cost of EWIP and the cost of goods transferred out.
Prepare a cost reconciliation.
Suppose that the materials added uniformly in blending are paraffin and pigment and that the manager of the company wants to know how much each of these materials costs per equivalent unit produced. The costs of the materials in BWIP are as follows:
Paraffin ........ $120,000
Pigment ......... 100,000
The costs of the materials added during the month are also given:
Paraffin ....... $3,060,000
Pigment ......... 2,550,000
Prepare an equivalent unit schedule with cost categories for each material. Calculate the cost per unit for each type of material.
|
Introduction we presented gas mileage data
: In the chapter introduction we presented gas mileage data for 2000 and 2009 model year compact cars. We will use histograms and back-to-back stem-and-leaf plots to compare the mileage between these two groups of cars. The following tables present the..
|
|
If sinking fund cash is used to purchase investments
: If sinking fund cash is used to purchase investments, those investments are reported on the balance sheet as marketable securities.
|
|
Write a method for the purse class
: Write a method for the Purse class public boolean sameContents(Purse other) that checks whether the other purse has the same coins in the same order.
|
|
Fifo inventory costing method
: The company uses the FIFO inventory costing method, and it computes a new, monthly, fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned.
|
|
Company produces a variety of stationery products
: Tyrone Company produces a variety of stationery products. One product, sealing wax sticks, passes through two processes: blending and molding. The weighted average method is used to account for the costs of production.
|
|
How many agencies were involved in the investigation
: How many agencies were involved in the investigation? Which agency was in charge? Were any political figures involved or participating: Who were they and what role did they play?
|
|
Java nearest neighbor algorithm
: I need a java class named "Topology" that includes methods "NearestNeighbor" and "RandomNeighbor".
|
|
Determine its initial angular velocity and retardation
: The drive to a flywheel is disconnected and in 30 s it is seen to have rotated through 120 revolutions; 30 s later it finally comes to rest. Assuming the angular retardation to be uniform, determine (a) its initial angular velocity, (b) the angula..
|
|
How should community and environmental group respond
: Sandy pond- identify stakeholders, rationale for why company is dumping and if there are ethical bases, what is the right thing for the company to do, how should community and environmental group respond.
|