Reference no: EM132462834
Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,400 models. During the month, the company completed 11,200 models, and transferred them to the Distribution Department. The company ended the month with 2200 models in ending inventory. There were 3000 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 55% complete as to conversion costs.
Beginning inventory:
Direct materials costs $20,000
Conversion costs $11,000
Manufacturing costs added during the accounting period:
Direct materials costs $70,500
Conversion costs $240,300
Question 1: What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of October?
(Round intermediary calculations to the nearest cent.)
A.$19,783
B.$20,337
C.$10,923
D.$14,916
|
Prepare memo for client highlighting software selection
: Insurance expired during Sept is $300. Prepare the written memorandum for your client highlighting software selection and recommendations
|
|
What amount should be included as foreign exchange loss
: In Newsprint's 20X8 consolidated income statement, what amount should be included as foreign exchange loss in computing net income
|
|
Proposal on prospect of supply chain management
: Prepare a proposal on Prospect of supply chain management: A case study of BMW - Write a paragraph to show who might benefit from your work individuals.
|
|
Calculate the total of the credit column
: On January 5, Wilson Trucking collected $175,000 of its accounts receivable, In trial balance prepared on January 6, 2018, calculate total of the credit column
|
|
Determine manufacturing costs added during the accounting
: What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of October?Manufacturing costs added during the accounting
|
|
What are the totals of the Adjusted Trial Balance columns
: If the Trial Balance column totals are $145,380, what are the totals of the Adjusted Trial Balance columns
|
|
Compute what is the weighted average cost of capital
: Assume a capital structure where stock is 50% and costs 14%, bonds are 40%, what is the weighted average cost of capital when taxes are 25%
|
|
Describes the contrast between process and job costing
: Describes the contrast between process and job costing?the main difference is the extent of averaging used to compute the unit costs
|
|
Prepare the required journal entrie
: Prepare the Required Journal entries on 6-15-20 and 8-15-20,The dividend is payable to owners of record on July 15,The dividend will be distributed on 9-15-20.
|