Solution-Compute the cost of oil shipped in the pipeline

Compute the cost of oil shipped in the pipeline

Assignment Help Cost Accounting

Reference no: EM13516334

Process Costing

Opech, Inc., produces oil and ships it in a pipeline. On May 1, it had no work-in-process inventory. It started production of 300 million barrels of oil in May and shipped 270 million barrels in the pipeline. The costs of the resources used by Opech in May consist of the following:

Materials	$5,000 million
Conversion costs (labor and overhead)	$6,640 million

Required

The production supervisor estimates that the ending work in process is 70 percent complete on May 31. Compute the cost of oil shipped in the pipeline and the amount in work-in-process ending inventory as of May 31.

Reference no: EM13516334

Questions Cloud

Select a population and public health issue of interest : Select a population and public health issue of interest

Compute the cost of chocolate completed : The production supervisor estimates that the ending work in process is 60 percent complete on April 30. Compute the cost of chocolate completed and the cost of the chocolate in work-in-process ending inventory as of April 30.

What is this persons near point when not wearing glasses : A farsighted person uses glasses with a refractive power of 3.3 diopters. What is this person's near point when not wearing glasses

Describe what is the ph at the equivalence point : 100 mL of .200 M HCl is titrated with .250 M of NaOH. What is the pH after 50 mL of the base has been added. What is the pH at the equivalence point

Compute the cost of oil shipped in the pipeline : The production supervisor estimates that the ending work in process is 70 percent complete on May 31. Compute the cost of oil shipped in the pipeline and the amount in work-in-process ending inventory as of May 31.

What is the focal length of the concave lens : A convex lens with f1= 19.9 is mounted 40.0cm to the left of a concave lens. When an object is placed 30.8cm to the left of the convex lens, What is the focal length of the concave lens

Compute the volume of both solutions needed to buffer : A buffer is created by mixing equal concentration is NH4+ and NH3. Calculate the volume of both solutions needed to create a buffer of pH = 8.75 with a total volume of 100ml

Find where should the fulcrum be so meterstick is balanced : A meterstick of negligible mass has a 0.25 kg mass at its 31 cm mark and a 0.40 kg mass at the 77 cm mark. Where should the fulcrum be so the meterstick is balanced

Determine how much energy enters your eye per second : You are standing 1.9m from a 130W- lightbulb. If the pupil of your eye is a circle 5.0mm in diameter, how much energy enters your eye per second

User Account

All Pages

Compute the cost of oil shipped in the pipeline

Reference no: EM13516334

Reference no: EM13516334

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT