Compute both direct labor cost and direct materials cost

Assignment Help Accounting Basics

Reference no: EM13581708

Victory Company uses weighted-average process costing to account for its production costs. Direct labor is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 765,000 units of product to finished goods. At the end of November, the goods in process inventory consists of 190,000 units that are 40% complete with respect to labor. Beginning inventory had $558,675 of direct materials and $210,250 of direct labor cost. The direct material cost added in November is $3,738,825, and the direct labor cost added is $3,994,750.

1. Determine the equivalent units of production with respect to direct labor and direct materials.

2. Compute both the direct labor cost and the direct materials cost per equivalent unit. (Round "Cost per EUP" to 2 decimal places.)

3. Compute both direct labor cost and direct materials cost assigned to units completed and transferred out and ending goods in process inventory. (Round "Cost per EUP" to 2 decimal places.)

Reference no: EM13581708

Questions Cloud

Prepare a schedule of expected cash collections for july : colerain corporation is a merchandising company that is preparing a profit plan for the third quarter of the calendar

In no less than one page respond to the following statement : presidents council on bioethicsin no less than one page respond to the following statement. answer question and add

The assignment for learning plan 2 involves various : the assignment for learning plan 2 involves various screenshots. you will use an application called wordpad and you

Calculate the upward force on the anchorage when the : a pipeline conveying freshwater to a city has an internal diameter of 1.2m and external diameter of 1.25m. the pipeline

Compute both direct labor cost and direct materials cost : victory company uses weighted-average process costing to account for its production costs. direct labor is added evenly

A tank has a base dimension of 15m x 15m the tank is : a tank has a base dimension of 1.5m x 1.5m. the tank is filled up to 2m from the bottom by oil of a specific weight

Next time you are watching tv surfing the internet or : advertisement observationsnext time you are watching tv surfing the internet or reading a magazine i want you to pay

Neglect air resistance for the following a soccer ball is : neglect air resistance for the following. a soccer ball is kicked from the ground into the air. when the ball is at a

What is the combined capacity in cubic feet of all three : 1. a local farm owner has just acquired another smaller farm with three silos for cattle feed. the shapes of the silos

User Account

All Pages