User Account

All Pages

Find the cost per unit of conversion activity is

Assignment Help Financial Management
Reference no: EM132319544

Question

Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 80% complete with respect to conversion; the ending work-in-process inventory is 15% complete. The following data pertain to May:

Units Work in process, May 1 16,000

Units started during May 65,000

Units completed and transferred out 73,300

Work in process, May 31 8,000

Total Direct Materials Conversion Costs

Work in process, May 1 $45,250 $17,500 $27,750

Costs incurred during May 237,630 73,000 164,630

Totals $282,880 $90,500 $192,380

Using the weighted-average method of process costing, the cost per unit of conversion activity is:

Reference no: EM132319544

Questions Cloud

Neoclassical economist alfred marshall : In other words, you need to look at both supply and demand factors to explain prices: scissors cannot cut without both blades. Do you agree?
How much will peter be able to deduct in 2019 : How much will Peter be able to deduct in 2019? Will your answer change if Peter losses $30,000 from one property and earns $20,000 from the other?
Proposed plan for integrating all of the strategic technique : Develop a PowerPoint presentation of 8-11 slides for a proposal, including 200-250 words of speaker notes per slide - describe concept applications in detail
What is the total budgeted compensation for both : The current audit bid for Monoco Industries requires $18,000 in direct partner professional labor, $30,000 in direct staff accountant professional labor.
Find the cost per unit of conversion activity is : Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly.
Develop a deep familiarisation with its properties : This exercise involves you working with an already acquired dataset to undertake the remaining three key steps of examining, transforming and exploring.
Determine the values and locations of the maximum tensile : Federation University - ENGIN5302 Modelling & Simulation Project. Determine the values and locations of the maximum tensile
Describe the relationship between the two types of failures : Our textbook points out that the most important failure for the events of 9/11 was that of imagination, and that the failure during Hurricane Katrina was one.
According to neoclassical theory of the firm : According to neoclassical theory of the firm, why, under perfect competition, will firms choose the level of output where the marginal cost of a unit equals

Reviews

Write a Review

Financial Management Questions & Answers

  Calculate the accounting break-even and cash flow break-even

A new product requires an initial investment of $5 million and will be depreciated to an expected salvage of zero over 5 years. The price of the new product is expected to be $25,000, and the variable cost per unit is $15,000. The fixed cost is $1 mi..

  Assume the college will cease deposits into the fund

A small, private college is starting a scholarship fund. The college’s fund managers expect the investments in the fund will earn an average annual return of 8%. After those 20 years have passed, how much in scholarship money can the college pay out ..

  What rate of return do equivalent muni bonds offer

If the marginal investor's tax rate is 30% and taxable bonds offer a rate of return of 6%, what rate of return do equivalent muni bonds offer?

  Which information is more valuable to marketing managers

Which information is more valuable to marketing managers—information from internal databases, from marketing intelligence, or from marketing research?

  What are the free cash flows to equity to the firm

Consider a firm with the following cash flows as of year 0: The firm’s total year 2 interest expense will be $55 million, while it will be $50 million in all other years. What are the Free Cash Flows to Equity (FCFE) to the firm in years 1, 2, and 3?

  Evaluate pros and cons of increased regulatory requirement

New regulatory requirement imposed on banks and financial institutions may have impacted a bank’s ability to generate mortgages for home buyers by increased requirements for disclosures, notices, statements, and documents related to lending. Evaluate..

  What are the costs of a barter system

What is specialization? How does it improve an economy's standard of living?- What are the costs of a barter system?

  What is the present value of fords interest tax shield

Ford expects to earn a free cash flow of $100, starting in 1 year, forever. The discount rate on the assets of the firm is 18%. Further, Ford has issued debt of $1,000 at an interest rate and yield-to-maturity of 5%. Ford will perpetually roll this $..

  What is maximum price you should be willing to pay for bond

Assume that you are considering the purchase of a 11-year, no callable bond with an annual coupon rate of 8.60%. The bond has a face value of $1000, and it makes semi-annual interest payments. If you require an 11.70% yield to maturity on this invest..

  What will the average inventory be

Nowlin Pipe & Steel has projected sales of 29,400 pipes this year, What is the economic ordering quantity? What will the average inventory be?

  Expects output levels to remain steady in the future

Galt Motors currently produces 500,000 electric motors a year and expects output levels to remain steady in the future. It buys a part from an outside supplier at a price of $2.50 each. The plant manager believes that it would be cheaper to make the ..

  What are the total fixed costs of operating the university

What are the total fixed costs of operating the university? What are the variable cost and contribution margin per student at the university?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd