Compute the normal and abnormal spoilage in units

Assignment Help Financial Accounting
Reference no: EM131255858

The following? data, in physical? units, describe a grinding process for? January:

Work in process, beginning 19,100

Started during current period 191,000

To account for 210,100

Spoiled units 12,200

Good units completed and transferred out 172,500

Work in process, ending 25,400

Accounted for 210,100

Inspection occurs at the 100% completion stage. Normal spoliage is 4% of the good units passing inspection.

Requirements:

1. Compute the normal and abnormal spoilage in units.

Normal spoilage ___ units

Abnormal spoilage ___ units

2. Assume that the equivalent-unit cost of a spoiled unit is $9. Compute the amount of potential savings if all spoilage were eliminated, assuming that all the other costs would be unaffected. Comment on your answer

Reference no: EM131255858

Questions Cloud

Determine employment laws that apply to the selection : Determine employment laws that apply to the selection, development, and management of employees. Evaluate policies and processes that promote a diverse workforce. Use technology and information resources to research issues in employment law.
Support the aims of the google books : Do you support the aims of the google books project which is to work with publishers and libraies to create a comprehensive ,searchabe, virtual card catalog of all books in all books in all languages that helps users discover new books and pub;ish..
What is the due date for the notice of objection : In the Income Tax Regulations, where would you find all the CCA classes and their rates? In what class would you find small tools and utensils (
Non-capital and net capital loss carryovers at end of year : Gina worked hard all year as an employee of Thornton Enterprises Ltd. She earned a $95,000 salary, and received fringe benefits with a taxable amount of $7,500. On the side, she operated a small business, which earned her $16,500 of business income. ..
Compute the normal and abnormal spoilage in units : The following? data, in physical? units, describe a grinding process for? January: Compute the normal and abnormal spoilage in units. Assume that the equivalent-unit cost of a spoiled unit is $9. Compute the amount of potential savings if all spoilag..
What is net asset value of the fund-stock shares price : The composition of the Fingroup Fund portfolio is as in Table 1. The has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $30,000. There are 4 million shares outstanding. What is the net asset value o..
Considering purchasing new? injection-molding machine : Larson Manufacturing is considering purchasing a new? injection-molding machine for ?$200,000 to expand its production capacity. It will cost an additional ?$20,000 to do the site preparation. At an interest rate of 15 ?%, would the purchase of the? ..
Institutional factors influencing chinas accounting reforms : Economic reforms in the People's Republic of China are moving that nation toward a market-driven economy. China's accounting practices mu st also change to accommodate the needs of potential investors. In an article entitled "Institutional Factors In..
Estimate cost formula for total manufacturing cost : High Low Method: Assume a company has the following manufacturing costs: Using the high low method, estimate a cost formula for total manufacturing cost.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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