Reference no: EM1350460
Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were:
Cost Percent Complete
Materials costs 10,600 65%
Conversion costs 12,800 30%
A total of 8,500 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
Materials costs 142,100
Conversion costs 359,500
The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
Reference: 4-6
The cost per equivalent unit for materials for the month in the first processing department is closest to:
16.42
15.28
18.29
|
What will be the induced emf magnitude in the short coil
: A 79 kg person sits on a 3.7 kg chair. Each leg of the chair makes contact with the floor in a circle that is 1.3 cm in diameter. Find out the pressure exerted on the floor by each leg of the chair, suppose the weight is evenly distributed.
|
|
Question on account balances
: For each of the balances above would the account normally be a credit or debit balance? Enter the closing journal entries as of December 31st. What would the new balances of each account be?
|
|
Illustrate what risks do you face upon inquiry at your bank
: Illustrate what risks do you face. Upon inquiry at your bank, you find that the forward price for a September contract to buy dollars is 10SKr per dollar. How might you hedge your exchange-rate risk for the first year.
|
|
How do values relate to work performance
: How do these values relate to work performance and what can management do to leverage these values to improve work performance?
|
|
Determining cost per equivalent unit
: Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning invent..
|
|
Find break-even points in units
: Jailer Shoe Corporation produces shoes that sell for 40 dollars each and have a variable cost of $39.50. Fixed costs are 37,000 dollars. Calculate the break-even points in units.
|
|
Explain what is the key objective for google
: Explain what is the KEY objective for Google and Wegmans Food Stores and how is pay used to drive those objectives?
|
|
Managerial accounting-conversion costs
: What would be the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)
|
|
What is the value of the economic mpc
: What is the value of the economic's MPC. Data applies to an economy with only two sectors-households and firms no government or export.
|