Find the cost of the finishing department

Assignment Help Accounting Basics
Reference no: EM132606012

Zachary Ski Company manufactures snow skis. During the most recent accounting period, the company's finishing department transferred 4,200 sets of skis to finished goods. At the end of the accounting period, 420 sets of skis were estimated to be 30 percent complete. Total product costs for the finishing department amounted to $346,080.

Required

Question 1: Determine the cost per equivalent.

Question 2: Determine the cost of the goods transferred out of the finishing department.

Question 3: Determine the cost of the finishing department's ending work in process inventory.

Reference no: EM132606012

Questions Cloud

Disadvantage to a national health insurance system : One disadvantage to a national health insurance system such as Canada's is that of"queuing"-people often need to wait long periods
What pretax amounts related to the lease would abbott report : What pretax amounts related to the lease would Abbott report in its statement of cash flows for the year ended December 31, 2021?
Discuss the existing economic systems of the united states : Critically and briefly discuss the existing economic systems of the United States and its distinctive features from the economic systems
Difference in the dynamics of banking and exchange crisis : Consider two large economies, D and F, where D alone gets hit with a negative expected inflation shock. D's central banker is very inflation
Find the cost of the finishing department : Find the cost of the goods transferred out of the finishing department. Determine the cost of the finishing department's ending work in process inventory.
Income tax high in efficiency and equity terms : Why do many economists rate the income tax high in efficiency and equity terms?
Calculate the price-earnings ratio and the payout ratio : During the same year, the company declared and paid total cash dividends of $90,200. Calculate the price-earnings ratio and the payout ratio.
Dynamics of banking and exchange crisis : Consider two large economies, D and F, where D alone gets hit with a negative expected inflation shock. D's central banker is very inflation
How much should be invested in each type of bond : How much should be invested in each type of bond if the total investment is ?$17,000?, and the investor wants an annual return of ?$890 on the three investments

Reviews

Write a Review

Accounting Basics Questions & Answers

  Analysis of stockholders equitystar corporation issued both

analysis of stockholders equitystar corporation issued both common and preferred stock during 20x6. the stockholders

  Which of the statements is correct for purple corporation

Taupe pays Purple a dividend of $80,000. Purple takes a dividend received deduction of $80,000. Which of the following statements is correct?

  Prepare the adjusted trial balance

As of July 1, 2016, Kel El decided to move to rented quarters and to operate a consulting business, which was to be known as KE Consulting, on a full-time basis. KE Consulting entered into the following transactions during July. Prepare the adjust..

  Why are audit objectives important in planning and

why are audit objectives important in planning and performing an audit? explain the differences between transaction

  What amount of revenue is recognized on the contract

On July 1, 20x1, Contractor Co. enters into a contract with a customer for the construction of a building. What amount of revenue is recognized on the contract

  Accretion of carrying amount of preferred stock

What guidance does the SEC provide for public companies with respect to the reporting of the "effect of preferred stock dividends and accretion of carrying amount of preferred stock on earning per share?

  What factors affect the reliability of market values

Are market values necessarily less reliable than historical cost-based values? What factors affect the reliability of market values

  Estimate variable and fixed cost elements of annual cost

If a truck is driven only 80,000 miles during a year, Using the high-low method, estimate variable and fixed cost elements of annual cost of truck operation

  Write the headings of two large columns title one product

write the headings of two large columns title one product costs and two period costs. under the product costs column

  Compute basic and diluted earnings per share

Paul Company had 100,000 shares of common stock outstanding on January 1, 2017. Compute basic and diluted earnings per share for 2018

  Units of production for conversion costs

All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was:

  Find the balance after one year for the initial deposit

Find the balance after one year for the initial deposit of $300, if you also deposit one $25 envelope each month, all year, into the account that pays 5% APR

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