Solution-Compute the equivalent units for materials

Compute the equivalent units for materials

Assignment Help Accounting Basics

Reference no: EM131744607

Question: 1. Conlon Chemicals manufactures paint thinner. Information on the work in process follows:

• Beginning inventory, 41,200 partially complete gallons.

• Transferred out, 208,100 gallons.

• Ending inventory (materials are 19 percent complete; conversion costs are 10 percent complete).

• Started this month, 244,500 gallons.

Required: a. Compute the equivalent units for materials using the weighted-average method. Equivalent units (gallons)?

b. Compute the equivalent units for conversion costs using the weighted-average method. Equivalent units (gallons)?

2. Conlon Chemicals manufactures paint thinner. Information on the work in process follows:

• Beginning inventory, 35,000 partially complete gallons.

• Transferred out, 214,000 gallons.

• Ending inventory (materials are 22 percent complete; conversion costs are 10 percent complete).

• Started this month, 239,000 gallons.

Assume that beginning inventory is 50 percent complete with respect to materials and 30 percent complete with respect to conversion costs

Required: a. Compute the equivalent units for materials using FIFO. Equivalent units (gallons)?

b. Compute the equivalent units for conversion costs using FIFO. Equivalent units (gallons)?

Reference no: EM131744607

Questions Cloud

Name and find the rank of name : You select the name. Refer to the previous exercise. Choose a first name and find the rank of this name for the past several years from the Social Security

Hypothetical employee who starts : For this exercise we consider a hypothetical employee who starts working in Year 1 with a salary of $50,000. Each year, her salary increases

What is the estimated cost of the inventory lost in tornado : Webster, Inc.'s inventory was destroyed in a tornado. The damage occurred on July 21 and their accounting records up to the date were as follows.

Discuss the freshman class in terms of demographic variables : Cornell Professor of Nutrition David Levitsky did just that. He recruited students from two large sections of an introductory health course

Compute the equivalent units for materials : Compute the equivalent units for materials using the weighted-average method. Equivalent units (gallons)?

Design a compensation plan that will be attractive to welder : Propose how XYZ should begin the process of establishing a competitive compensation plan for welders and the techniques and data collection methods.

Discuss ability of little league pitchers to throw strikes : Advertisements for an instructional video claim that the techniques will improve the ability of Little League pitchers to throw strikes

Interpret the residual plot : Look at the residuals. Refer to the previous exercise. Figure 4.26 is a plot of the residuals versus year.

How should the ranges vary by job type and level : What are the relevant markets that each of MPBS's major occupational groups should be compared to? Should MPBS lead, match, or follow competitors? Why?

User Account

All Pages

Compute the equivalent units for materials

Reference no: EM131744607

Reference no: EM131744607

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT