Find cost per equivalent unit for materials under the fifo

Assignment Help Managerial Accounting
Reference no: EM132521798

Landry Co. had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $25,700.

Work in Process Inventory

Beginning balance @ 12/1: 480 units, 10% completed $29,000

Completed 1,080 units and transferred them to finished goods inventory $234,273

Direct materials 77,000

Direct labor 53,000

Overhead Property taxes 19,000

Depreciation 50,000

Utilities 34,000

Indirect labor 17,000

Ending balance @ 12/31: 420 units, 20% completed$44,727

Question 1: Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded):

Multiple Choice

Option 1: $73.158.

Option 2: $75.490.

Option 3: $155.018.

Option 4: $62.441.

Option 5: $76.111.

Reference no: EM132521798

Questions Cloud

What cost per equivalent unit for material q : What Cost per equivalent unit for Material Q under weighted-average method calculated to be?Material P is added at beginning of work in the Mixing Department.
Transactions between sinclair and sinven : What are the arguments that the transactions between Sinclair and Sinven should be subjected to judicial scrutiny and upheld only if Sinclair shows
Record the deferral and the related December : Record the deferral and the related December 31, 2018, adjustment for Stokes Company in the accounting equation
What is total recorded cost of the automatic scorekeeping : The cost of repairing the component is 15 $1,850. What is the total recorded cost of the automatic scorekeeping equipment
Find cost per equivalent unit for materials under the fifo : Find Cost per equivalent unit for materials under the FIFO method is calculated to be. Landry Co. had the information for the month of December.
Vertical position to a horizontal position : Put your hand on your shoulder and gradually lift your arm up from a vertical position to a horizontal position.
Legal memorandum : Legal Memorandum: ABC, Inc., was incorporated in the state of Delaware. It has a principle place of business in the state of Georgia.
What is the carrying amount of the long-lived asset : On October 1, 2021, Bramble Wind Turbine Company places a new asset into service. What is the carrying amount of the long-lived asset
Find the change in velocity : The turn takes 3.0 s to complete. Find (a) the change in velocity and (b) the average acceleration during the turn.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Explain quick managerial problem

If Thomson Company did not issue any bonds payable during the year and its bonds payable account decreased by $200,000 over the course of a year.

  What are the activity-based rates for type of direct labor

John recorded 30,000 hours of data analysis and 100,000 hours of data entry. What are the activity-based rates for each type of direct labor?

  Does the md&a help you understand why the gross margin

Does the MD&A help you understand why the gross margin percentage changed between fiscal 2011 and fiscal 2010?

  Find the factory overhead account is

Actual overhead costs for the year totaled $425,000, and actual direct labor costs totaled $226,000. At year-end, Factory Overhead account is?

  Prepare the required journal entry based upon the cash count

Prepare the required journal entry based upon the cash count sheet.

  What amount of heating cost will be allocated to finishing

Department occupies 20,000 square feet. What amount of heating cost will be allocated to the finishing and packaging departments, respectively?

  Determining operating income

GHI Company makes light-weight canoes for campers. The president, George Ingalls, enlists your help in predicting the effects of some changes he is contemplating. He gives you the following information:

  Cvp analysis of detroit disk

Detroit Disk, Inc. is a retailer for digital video disks. The projected net income for the current year is $600,000 based on a sales volume of 400,000 video disks. Calculate Detroit Disk's break-even point for the current year in number of video di..

  Write an essay, analysing J and Ks argument

University Of Essex - BE131 - ADVANCED MANAGEMENT ACCOUNTING - write an essay, analysing J&K's argument, contrasting it with alternative perspectives advanced

  Determine the net present value and profitability index

Compute the net present value and profitability index of each project. McKnight Company is considering two different, mutually exclusive capital expenditure

  What is the value of the firm according to mm with corporate

What is the value of the firm according to MM with corporate taxes? Eccles Inc., a zero growth firm, has an expected EBIT of $100,000 and a corporate tax rate

  Cost of goods sold using the fifo

Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the end of December, Marzion Electronics' year-end.

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