Determining equivalent units of production

Assignment Help Accounting Basics
Reference no: EM13155567

A production department's output for the most recent month consisted of 10,000 units completed and transferred to the next stage of production and 10,000 units in ending goods in process inventory. The units in ending goods in process inventory were 50% complete with respect to both direct materials and conversion costs. There were 1,000 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method.

a. 10,000 units.

b. 10,300 units.

c. 15,000 units.

d. 15,300 units.

e. 10,700 units.

Reference no: EM13155567

Questions Cloud

Fe end-members of the magnesite-siderite solid solution : Magnesite MgCO3 and siderite FeCO3 are the Mg and Fe end-members of the magnesite-siderite solid solution.
Textual analysis on the movie fight club : I have to write a textual analysis on the movie Fight Club! and I have to relate that movie to the book lord of the flies... don't know how to start..
Declaration of a liquidating dividend by a corporation : How would the declaration of a liquidating dividend by a corporation affect each of the following?
Determininig discriminatory hiring practices : An audit client is being sued for $500,000 for discriminatory hiring practices. Indicate the appropriate action the auditor should take for each of the following independent responses to the letter of audit inquiry:
Determining equivalent units of production : There were 1,000 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weight..
Income tax consequences to the parties : Amy is the sole shareholder of Garnet Corporation. During the year, Amy leases a building to Garnet for a monthly rental of $40,000. If the fair rental value of the building is $30,000, what are the income tax consequences to the parties involved?
Find standard error of estimate if large sample is chosen : Determine the standard error of estimate. Suppose a large sample is selected (instead of just five). About 68 percent of the predictions would be between what two values?
The temperature dependence of the reaction rate constant : The temperature dependence of the reaction rate constant is given by the equation: ... ln k = ln A - Ea/RT ... ... Where: k = rate constant T = temperature A
What''s the volume of pure hydrogen present in a sample : What's the volume of pure hydrogen present in a sample of 55.0 mL of gas saturated with water vapour at 27 °C, if the total pressure is 104.8 kPa?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analyse a set of financial statements

PM 106:  Learning outcomes to be examined in this assessment: Analyse a set of financial statements including Income Statement, Statement of Financial Position and Statement cash flows.

  What will be the ending accounts payable balance

Tidbit Inc. has a sales budget for next month of $800,000. Cost of goods sold is expected to be 25 percent of sales. All goods are purchased in the month used and paid for in the month following purchase.

  Planning to construct expanded facilities

Dean manufacturing is planning to construct expanded facilities and will finance a portion of its new plant with proceeds from the sale of its current plant.

  Determine the unemployment taxes

During 2012, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Cincinnati, Ohio, and earned $22,000. The state unemployment rate for Rowland is 4.6%.

  How would the assets appear on the balance sheet

Any plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2010 on these newly acquired assets.

  Cumulative effect of accounting change

Suppose a 40% income tax rate. The cumulative effect of this accounting change on beginning retained earnings is

  Financial statements for a for-profit business

How does the audit opinion given to a city by its independent auditors differ from the audit opinion rendered on the financial statements for a for-profit business?

  Compute trend percents for financial items

Compute trend percents for the following financial items, using 2007 as the base year.

  Journalize entries to record flow of costs

Journalize the entries to record (a) the flow of costs into the Refining Department during the period for

  Problem related to adjusting entry

On May 1, 2004 Giltus Advertising Company received $1,500 from Julie Bee for advertising services to be completed April 30,2005. The Cash receipt was recorded as unearned fees and at December 31,2004, $500 of the fees had been earned. The adjust..

  Company net contribution margin

Last year, Twins Company reported $750,000 in sales (25,000 units) and a net operating income of $25,000. At the break-even point, the company's total contribution margin equals $500,000. Based on this information, the company's:

  What is the customer profit

A company estimates that ordering costs are $2.00 per order, picking costs are $1.00 per unique item ordered, packing costs are $0.07 per item, and return costs are $40.00 per return.

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