Fairfax company uses weighted-average process costing to

Assignment Help Cost Accounting

Reference no: EM13370893

Fairfax Company uses weighted-average process costing to account for its production costs. Direct labor is added regularly throughout the process. Direct materials are added at the starting of the process. During September, the company transferred 740,000 units of product to finished goods. At the end of September, the goods in process inventory consists of 180,000 units that are 80 percent complete with respect to labor. Starting inventory had $358,800 of direct materials and $198,900 of direct labor cost. The direct labor cost added in September is $3,779,100, and the direct materials cost added is $2,401,200.

1(a) Evaluate the equivalent units of production with respect to direct labor.

1(b) Evaluate the equivalent units of production with respect to direct materials.

2 Determine both the direct labor cost and the direct materials cost per equivalent unit.

3(a) Evaluate both direct labor cost and direct materials cost assigned to units completed and transferred out.

3(b) Calculate both direct labor cost and direct materials cost assigned to ending goods in process inventory.

Reference no: EM13370893

Questions Cloud

Show the role of the managerial accountant in todays : show the role of the managerial accountant in todays business environment. how has role changed and evolved over

If company is optimistic about its china venture and : if company is optimistic about its china venture and anticipates continued investment and growth are restrictions on

On 1st january 2010 jacob issues 800000 of 9 percent : on 1st january 2010 jacob issues 800000 of 9 percent 13-year bonds at a price of 96frac12. six years later on january 1

Barrington bears bb has developed the subsequent sales : barrington bears bb has developed the subsequent sales forecasts for the next few months january 500 february 600 march

Fairfax company uses weighted-average process costing to : fairfax company uses weighted-average process costing to account for its production costs. direct labor is added

Your clients bubba and cindy rios need tax preparation help : your clients bubba and cindy rios need tax preparation help. they sold a house for 401000 basis of 55000 bought another

A identify the steps in evaluating the taxable income of a : a. identify the steps in evaluating the taxable income of a trust or estate.b. show the uses and implication of

Biando corporation began operations on 1st may 2010 and : biando corporation began operations on 1st may 2010 and completed the subsequent transactions during its first month of

Last night as you scrolled through the tv channels to : last night as you scrolled through the tv channels to evaluate an action flick you came across an old movie with tough

User Account

All Pages