Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day:
Beginning WIP inventory
Direct materials $1010
Conversion costs 527
Current period costs
Direct materials 22,540
Conversion costs 15,283
Quantity information is obtained from the manufacturing records and includes the following:
Beginning inventory 700units (65% complete as to materials,55% complete as to conversion)
Current period units started 5,700 units
Ending inventory 1,900units (45% complete as to materials,20% complete as to conversion)
Required -
1) Compute the equivalent units for the materials and conversion cost calculations
2) Compute the cost per equivalent unit for direct materials and conversion costs. (Round your answers to 2 decimal places.)
3) Compute the cost of goods transferred out and the ending inventory using the FIFO method. (Do not round intermediate calculations.)
Evaluate the cost of Finished goods inventory and Work-in-process inventory. Ron requires the ending inventory balances to report first quarter numbers
What optimum order quantity in units for squash racquets is? Annual demand for squash racquets is 50,000 units, and carrying costs amount
or the activity level of 3,200 units, compute: (a) the total variable cost; (b) the total fixed cost; (c) the total cost; (d) the average variable cost per unit; (e) the average fixed cost per unit; and (f) the average total cost per unit. Assume tha..
Liability arising from defective products $65,000. Quality circles $27,000. What will be the total prevention cost appearing on the quality cost report?
He estimates that the equipment could be sold at that time for 4% of its original cost. Jim uses a 16% discount rate - would you advise Jim to make this investment? Why or why not?
If A was allocated $187 500 of the joint production costs under the net realisable value method, what was the selling price of D
Identify the fixed and variable costs from the above and comment on the cost behaviour - Estimate the cost of goods manufactured and sold and prepare a revised income statement for the month.
Based on a $10 selling price per unit, what the number of T-shirts Dorcan Corporation must sell to break-even in the coming year
Appropriate inventories and cost of goods sold based on year-end balances in it's year end income statement. Worley should report cost of goods sold of
What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $200?
In what reasoning would one consider Receivables Collection Period a useful device in reviewing an entity's performance?
Prepare an income statement with a supporting cost of goods sold statement - Prepare Statements for a Manufacturing Company
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd