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Prentice Hall's Federal Taxation 2014 Comprehensive C13-49
Assume the same facts as in Problem C:13-48 and that before Yuji's death in 2013 his wife already owned property valued at $300,000. Assume that each asset owned by each spouse increased 8% in value by the surviving spouse's date of death in 2013 and that Yuji's executor elected to claim the maximum marital deduction possible. Assume there were no state death taxes. From a tax standpoint, was the executor's strategy of electing the marital deduction on the QTIP trust a wise decision? Support your answer with computation
Cost of Prduction report
Equivalent Units
Flow Of Units
Physical Units
Direct Material
Direct Labour
Units to be accounted for
Beginning work in process inventory
4500
Units started this period
41000
Total u nits to be accounted for
45500
Units accounnted for:
Completed and transferred out (b)
41900
Ending work in progress inventory©
3600
2520
Total units to be accounted for (f)
44420
Flow of Cost
Cost in the begnning work in progress inventory
49590
40590
9000
Begiining and cost added to process
462850
360800
102050
Total Cost to be accounted for (e)
512440
401390
111050
Cost per equivalent unit (a) (e/f)
11.32
8.82
2.50
Cost accounted for
ans b
Cost assigned to units transferred out (a*b)
474382
369632
104750
Cost in ending work in progress inventory (a*c)
38058
31758
6300
Total Cost accounted for
512440.00
401390.00
111050.00
Cost of units started and completed
(41900-4500)*11.32
423368
I have used weighted average method if answer is not this let me know than I will use FIFO method
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