Compute the number of units transferred to finished goods

Assignment Help Financial Accounting
Reference no: EM13826959

During May, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 38,900 were in process in the production department at the beginning of May and 164,500 were started and completed in May. May’s beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of May, 52,700 additional units were in process in the production department and were 70% complete with respect to materials and 20% complete with respect to conversion. The production department had $617,874 of direct materials and $485,448 of conversion cost charged to it during May. Its beginning inventory included $75,475 of direct materials cost and $29,893 of conversion cost.

Compute the number of units transferred to finished goods.

Reference no: EM13826959

Questions Cloud

Convention for both book and tax : ABC Corporation has the following activities that should generate book/tax differences in 2014: Purchased $100,000 of 5 year property. Straight-line depreciation is used for book purposes. (Assume ½ year convention for both book and tax).
Explain relationship between tax rate and tax revenue : The essay answers the above three problems by explaining the relationship between tax rate and tax revenue through the Laffer curve.
Calculation total production cost flexible budget variance : Which of the following variances considers only the cost varience to be included in the calculation of the total production cost flexible budget variance?
Management discussion and analysis : One way Enron manipulated its financial statements was to sell assets at inflated prices to other firms, while giving a promise to buy back those assets at a later date. The incoming cash was recorded as revenue, but the promise to buy back the as..
Compute the number of units transferred to finished goods : During May, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Compute the number of units transferred to finished goods.
Balance sheet for a certain company : The above table shows a balance sheet for a certain company. All quantities shown are in millions of dollars. If the company has 4 million shares outstanding and these shares are trading at a price of $8.24 per share, what does this tell you about..
Analysis of alternatives and Lease vs. Purchase : The balck Knights Inc, a manufacturer of low-sugar, low sodium low cholesterol Tv dinners, would like to increase its market share in the Sunbelt. (investment Decision) Andrew Bogut just recieved a signing bonus of $1,000,000. His plan is to invest t..
Marketing recommendation plan fororganization in hospitality : Marketing Recommendation Plan for organization in Hospitality industry
Condition of a business which yields net loss : Alpha Company, which sells specially designed envelopes has been in the industry for almost then years. The company's profit and loss account for the month of December 2012 is given below:

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