Determine the cost per unit transferred to finished goods

Assignment Help Accounting Basics
Reference no: EM133108834

Question - Atlantis Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Atlantis started into production 12,000 units. At the end of the month there were 8,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 70% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

Direct Material $40,000

Direct Labor 15,000

Factory Overhead 38,000

Atlantis uses the weighted-average process costing method. Use this information to determine the cost per unit transferred to finished goods for the month of March?

Reference no: EM133108834

Questions Cloud

Classes of metal ligand interactions in metalloenzymes : Describe the range of functions of metal ions in biological systems and Explain types and classes of metal ligand interactions in metalloenzymes
Prepare presentation on sustainability of management : Prepare Presentation on Sustainability of Management - What have been identified recently as important issues/concerns/problems for management
Concepts of dialogue and collaborative conversations : What significant connection(s) do you make between the three resources you chose, and what are some implications for YOU?
Prepare a correct trial balance : A payment on account for $235 was credited to Cash for $235 and credited to Accounts Payable for $253. Prepare a correct trial balance
Determine the cost per unit transferred to finished goods : Atlantis uses the weighted-average process costing method. Use this information to determine the cost per unit transferred to finished goods for month of March
Analyses a contemporary public conflict : Analyses a contemporary public conflict in relation to negotiation, mediation and/or consultation e g: mediate processes and practices
Record the transaction : Question - One of the owners sold $19,000 worth of his common stock to another shareholder for $20,000. Record the transaction
Determine Towson Company Net Cash Flows : Plant Assets - Disposals (100,000). Use this information to determine Towson Company's Net Cash Flows from Operating Activities
Determine the book value of the investment : Use this information to determine the book value of the investment that should be reported at year end by All Good Company

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the annual impact to the company profit

what is the annual impact to the company's profit if it buys the radios from the supplier instead of manufacturing them

  How does the global citizenship education benefited society

How does the Global Citizenship Education (GCED) benefited the society in resolving environmental issues? One environmental issue to focus on (Air Pollution)

  Post to the estimated warranty payable T-account

Toyota, the car manufacturer, guarantees its vehicles for three years or 100,000 kilometres, Post to the estimated warranty payable T-account

  Determine the price-earnings ratio and dividend yield

Determine the price-earnings ratio and dividend yield for the three companies. Round ratios and percentages to one decimal place as appropriate

  What interest rate must pearl investment compound annually

Assume that Pearl Williams desires to accumulate $750,000 in 14 years, At what interest rate must Pearl's investment compound annually

  Analyze the financial results of corporations

Ratio analysis is quantitative analysis of information contained in a company's financial statements. Common-size analysis converts each line.

  What is relationship between interest rates and bond prices

What is the relationship between interest rates and bond prices? When is a bond sold at (i) a premium, (ii) at a discount, and (iii) at par

  Compute the cost of inventory and cost of goods sold

Compute the cost of inventory and cost of goods sold by using periodic systems using: First-In First-Out, Last-In First-Out, and Weighted Average and estimate

  Business activities occur during july for great adventures

These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking

  What would happen to the investor decision

Question - In terms of taxable versus non-taxable bonds, what would happen to the investor's decision if he/she had a lower income

  Find how much should be recorded on december for the loss

The historical cost was $21,500, the salvage value assumed was $2,000. How much should be recorded on December 31 for the Gain or (Loss)?

  What is the average number of units in inventory

What is the average number of units in inventory based upon ordering 250 units each time an order is placed?

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