Determine the conversion cost of the work in process

Assignment Help Cost Accounting
Reference no: EM133070651

Question - Vangogh, Inc. had the following information in its 2020 Work in Process Inventory account:

Beginning Balance: 20,000

Materials added: 300,000

Direct Labor Cost: 180,000

Applied Overhead: 240,000

Ending Inventory: 70,000

All workers are paid at the rate rate of P18 per hour. Overhead is applied on the basis of direct labor hours. The only work left in process at the end of the month had a total of 1.430 direct labor hours.

Determine the direct material cost of the work in process at the end.

Determine the conversion cost of the work in process at the end.

Reference no: EM133070651

Questions Cloud

What is meant by homeland security enterprise : What is meant by "homeland security enterprise"? Who are the key players in the U.S. Intelligence Community and how do they work together to combat terrorism?
Compute cost of inventory at current year-end : Finished goods in transit, including freight charge of P20,000, FOB shipping point 250,000. Compute cost of inventory at current year-end
Associates seeking help in organizing her business : Deidre McFadden came to the offices of Webber and Associates seeking help in organizing her business, Fashion Angels,
What is the required return of the stock : The risk-free rate is 1.1% and the market return is 16.4%. The beta of the stock is 1.78. What is the required return of the stock?
Determine the conversion cost of the work in process : The only work left in process at the end of the month had a total of 1.430 direct labor hours. Determine the conversion cost of the work in process at the end
Calculate the duration of the portfolio : a bond with face value of $100.00 paying annual coupons of 6% maturing in 5 years
Differences between male and female institutions : What are the major differences between male and female institutions and how are correctional managers resolving these concerns vis a vis values
Empirical data study on tcs : 1. Download daily data of assigned stock from Jan 01, 2020, to December 31, 2020 from NSE Website.
Pay off in long-term savings and results : What are costs and benefits of rehabilitative methods? Are short-term costs of these rehabilitative methods likely to pay off in long-term savings and results?

Reviews

Write a Review

Cost Accounting Questions & Answers

  How does accounting for overapplied or underapplied overhead

How does the accounting for overapplied or underapplied overhead, originally discussed, differ from York Co.'s cost accounting system?

  What the total cost of producing giant is

Tucariz Company, If Tucariz uses the net realizable value method to allocate costs to the joint products, the total cost of producing Giant is

  How to determine units in ending inventory

What steps to take to determine the operating income using absorption costing and variable costing? How to determine units in ending inventory?

  Evaluate what initiatives would be required

Find what strategic objective would this address and find what specific measures would this involve

  Computation of basic and diluted eps charles austin of the

computation of basic and diluted eps charles austin of the controllers office of thompson corporation was provided the

  Compute the amount of revenue and gross profit

Compute the amount of revenue and gross profit or loss to be recognized in 2016, 2017, and 2018 using the percentage-of-completion method?

  Do a business proposition on a real or factious business

do a business proposition on a real or factious business from tn. with acquired state urlprobably the secretary of

  Prepare the adjusting entries at december of obi company

A review of the ledger of Obi Company at December 31, 2010, produces the data pertaining to the preparation of annual adjusting entries.

  Determine the total budgeted contribution margin

Determine the total budgeted contribution margin for Greiner Company by month and in total for the first quarter of 2013. Be sure to show supporting calculations.

  Bill jensen a staff member of zhan amp co cpas has provided

bill jensen a staff member of zhan amp co. cpas has provided you the following list of what he refers to as internal

  How much would you still owe at the end of the first year

Suppose you borrowed $15,000 at a rate of 8% p.a. for 5 years compounded semiannually. How much would you still owe at the end of the first year

  How much is the cost of the dishwashing liquid

A gallon of dishwashing liquid was priced with a markup of $1.95. If this is 64% markup based on selling price, how much is the cost of the dishwashing liquid

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