Conversion costs

Assignment Help Financial Accounting
Reference no: EM13912867

Using weighted-average, total cost to account for in a process is $100,000, evenly divided between materials and conversion. Conversion consists of 75,000 equivalent units, divided one-fourth to work in process, and three-fourths to completed units, then:
A. conversion costs included in ending work in process are $10,000.

B. conversion costs included in ending work in process are $12,500.

C. conversion costs included in ending work in process are $25,000.

D. conversion costs included in ending work in process are $50,000.

E. None of these.

Reference no: EM13912867

Questions Cloud

Financial performance measurements : Krall Company recently had a computer malfunction and lost a portion of its accounting records. The company has reconstructed some of its financial performance measurements including components of the return on investment calculations
Opportunity to invest : Most Company has an opportunity to invest in one of two new projects. Project Y requires a $315,000 investment for new machinery with a four-year life and no salvage value.
Physical inventory at the end of the year : A company took a physical inventory at the end of the year and determined that $810,000 of goods were on hand. In addition, the following items were not included in the physical count
Record for bond : What amount should Brogden record for bonds payable (net of related discount) on January 1, 20X6
Conversion costs : conversion costs included in ending work in process are $12,500-conversion costs included in ending work in process are $25,000.
Process inventory : Basham had no beginning work in process inventory. During 20X6, Basham started and finished 500 units.
Assigned anestimated life : The equipment was assigned anestimated life of 10 years and a salvage value of $10,000. On January 1, 2005, ABC Company decided the life of the equipment should be revised from 10 to 15 years with a salvage value of $4,000 at the end of the 15 years..
Employee participation : is imposed on lower-level personnel who rarely are involved in budget construction-centers on lower-level employee participation.
Pounds of material : Z makes units that each requires 2 pounds of material at $3 per pound. 500 and 700 units will be built in May and June, respectively. Z keeps material on hand at 20% of the next month's production needs.

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