Compute the equivalent production using fifo and average

Assignment Help Accounting Basics
Reference no: EM132697656

Problem 1: Compute the equivalent production using FIFO and Average

A. Work in process, beginning, 12,000 units - ¼ completed and 8,000 units 1/8 completed; started in process, 50,000 units; transferred and completed, 40,000 units; work in process end, 1/6 completed.

B. Work in process beginning: 10,000 units, 2/5 completed 10,000 units, 3/5 and 5,000 units, 2/5 completed. Placed into process: 40,000 units Finished and transferred: 45,000 units Work in process end: ½ is 4/5 completed and the balance is ½ completed.

C. Work in process beginning: 1/3 completed Started in process: 44,000 units Transferred: 30,000 units Work in process end: 20,000 units, 1/5 completed

D. Work in process beginning: 6,000 units, ½ completed 9,000 units, 1/3 completed Started in process: 30,000 units Completed and transferred: 20,000 units Work in process end: ¼ is 2/5 completed; ½ is 4/5 completed; balance 1/10 completed

E. Work in process beginning: 5/8 completed Started in process: 10,000 units Transferred out: 8,000 units Completed and on hand: 1,600 units Work in process, end: 16,400; 4/5 completed

Reference no: EM132697656

Questions Cloud

Develop a talent management plan for greenway inc : The competition of the global marketplace has put a premium on hiring, developing, and retaining employees who are knowledgeable, skilled, and experienced.
Discuss the purpose of correlation analysis : Discuss the purpose of correlation analysis. Give an example of its use in business.
How you would apply approaches of program evaluation : Describe how you would apply approaches or models of program evaluation covered in Unit 5 studies to your Unit 8 assignment: Developing a Program Evaluation.
Perceives ethics from our own point : Each of us perceives "ethics" from our own point of reference as to what is or is not ethical.
Compute the equivalent production using fifo and average : Compute the equivalent production using FIFO and Average. Work in process, beginning, 12,000 units - ¼ completed and 8,000 units 1/8 completed
How would your answer fit in kohlberg stages : Read the Heinz dilemma, and consider what you would do if you were in his place. Write down your answer and the reasons behind it. How would your answer fit in.
Which of the statements are most correct : Which of the statements are most correct? Mike carries on a landscaping business and is registered for GST on an other than cash/accruals basis.
Department of homeland security : Look at a real-world scenario and how the Department of Homeland Security (DHS) plays into it.
Identifying the critical attributes of selected methodology : A literature-supported discussion identifying the critical attributes of the selected methodology (qualitative or quantitative). A literature-supported.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Setting audit risk at 5 us a valid setting for controlling

setting audit risk at 5 us a valid setting for controlling audit risk at a low level only if the auditor assumes that

  What are the ethical implications of mikes request

How should you handle this situation? What are the ethical implications of Mike's request? Who are the parties who would be helped or harmed if you went along with the request? If you fail to comply with his request, how will you explain your positio..

  O january 1 2010 carey inc entered into a noncancellable

on january 1 2010 carey inc. entered into a noncancellable agreement agreeing to pay 3500 at the end of each year for

  Differentiate futa taxes and suta taxes

Madison Company has nine employees. FICA Social Security taxes are 6.2% of the first $106,800 paid to each employee, and FICA Medicare taxes are 1.45%.

  Calculate tom net gain or loss

During 2015, Tom sold Sears stock for $10,000. The stock was purchased 4 years ago for $13,000. Calculate Tom's net gain or loss

  Prepare the journal entry to record interest on december

The market interest rate (yield) was 4% for bonds of similar risk and maturity. Prepare the journal entry to record interest on December 31, 2013

  A current ethical issue related to financial reporting fraud

a current ethical issue related to financial reporting fraud in any company or entity

  What are three scenarios that would result in detailed

in light of the full disclosure principle investors and creditors need to know the balance for assets liabilities and

  Which are paid by the employer

What payroll taxes are paid by the employee? Which are paid by the employer? What types of reports are used to document to the government the payroll taxes paid by the employer and employee?

  Prepare the necessary adjusting entries for Terrell Company

On May 31, 2014, Terrell Company had a cash balance per books of £6,781.50. Prepare the necessary adjusting entries for Terrell Company

  Locate and review annual reports about amazon

"The Cloud Effect" Please responds to the following: eActivity - Locate and review annual reports about Amazon.com. Be prepared to discuss

  The desired number of units in ending inventory

Which of the following is not used in deciding how many units to produce in a period? -The desired number of units in ending inventory.

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd