Determine the direct materials and conversion costs

Assignment Help Accounting Basics
Reference no: EM133168654

Question - The cost of direct materials transferred into the Rolling Department of Oak Ridge Steel Company is $3,000,000. The conversion cost for the period in the Rolling Department is $462,600. The total equivalent units for direct materials and conversion are 4,000 tons and 3,855 tons, respectively. Determine the direct materials and conversion costs per equivalent unit.

Reference no: EM133168654

Questions Cloud

How much should the investment be initially recognized : The market price of the shares is P15 per share and this was sold at P18 per share on January 2, 2021. How much should the investment be initially recognized
Processes of business and management : Examine a problem and suggest changes; results feed into action which is then evaluated, and cycle continues
Calculate predetermined overhead allocation rates : Lawler Manufacturing Company expects annual manufacturing overhead to be $810,000 Calculate predetermined overhead allocation rates
Calculate the amount of monthly interest revenue : Assume a company has the following information: Note Receivable: $100,000 and Interest Rate: 9%. Calculate the amount of monthly interest revenue
Determine the direct materials and conversion costs : The cost of direct materials transferred into the Rolling Department of Oak Ridge Steel Company is $3,000,000. Determine direct materials and conversion costs
How much will you have at the end of four years : You plan to save $1,700 each year for the next four years to pay for a vacation. How much will you have at the end of four years
How much compensation will be recorded : Surprisingly, in year three, the manager meets the 8% increase. How much compensation will be recorded in 2022
Critically apply vital transferable knowledge and skills : Critically apply vital transferable knowledge and skills across the challenges you will face in your future employment
Prepare the consolidation adjustments journal entries : T Berhad recorded the transactions for A Sdn Bhd transaction using the cost method. Prepare the consolidation adjustments journal entries for T Berhad

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the minimum annual cash savings

Calculate the minimum annual cash savings that must be realized for the project to earn a rate equal to the firm's cost of capital

  Unit cost for the direct materials

What is the unit cost for the direct materials for 19x1, assuming direct materials cost is for the production of 507,000 units? A. $3.20 b. $3.80 c. $4.00 d. $4.32 128.

  Entries for receipt and dishonor of note receivable

Entries for receipt and dishonor of note receivable - Journalize the following transactions of Sanchez Productions

  What was the amount of raw materials used during quarter

Brittle Corp. obtained the following information from the Raw Materials Inventory account and purchasing records for the third quarter of the current year.

  What will be net increase in the denominator of eps fraction

what will be the net increase in the denominator of the EPS fraction if the market price of the common shares averaged $12 per share during 2016

  Prepare general journal entries in the books of the lessee

According to the requirements of AASB 117, prepare general journal entries in the books of the lessee, Chilly Ltd for: 1 July 2014

  What amount of the net operating loss may maples corp use

Assuming the long-term tax-exempt rate is 3 percent, what amount of the net operating loss may Maples Corp. use to offset its taxable income

  Correct intangible asset account as the recently appointed

Correct Intangible Asset Account As the recently appointed auditor for Hillary Corporation, you have been asked to examine selected accounts before the 6-month financial statements of June 30, 2010, are prepared.

  What are the internal control uses

The auditor is required to report on internal controls of company and not to use certain audit methods. What are the internal control uses

  What is the debit balance in the given transaction

Assume that an investor buys 100 shares of stock at $50 per share, putting up a 60% margin.

  How would recommend seek additional capital

If you were advising the Abramses, how would you recommend they seek additional capital?Would this venture have any appeal for a venture capitalist?.

  Prepare journal entries to update depreciation

Prepare journal entries to (a) update depreciation for 2018 and (b) record the sale. (Credit account titles are automatically indented when amount is entered

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