Find the total cost assigned to the ending work

Assignment Help Managerial Accounting
Reference no: EM132950183

Question - The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,400 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.85 for materials and $4.35 for labor and overhead, find the total cost assigned to the ending work in process inventory?

Reference no: EM132950183

Questions Cloud

What will be the minimum annual lease rent : What will be the minimum/breakeven annual lease rent that you should charge Maximum Sports Manufacturing to have zero NPV from this transaction.
Identify and briefly describe three cognitive biases : Identify and briefly describe three cognitive biases. Also, describe a strategy for debiasing judgement. Why are the concepts of biases and debiasing important
Compute fred gross pay : Fred Mack manages a cell phone repair business at Northwest Mall. His regular pay per hour is $12, Compute Fred's gross pay
What is personality in organizational behavior : What is personality in organizational behavior?
Find the total cost assigned to the ending work : The Richmond Corporation uses the weighted-average method in its process costing system. Find the total cost assigned to the ending work
Calculate the two company financial ratios : You work for a financial brokerage firm. In preparation for next quarter, your supervisor, Bob Ross, has asked you to prepare a 2-page financial comparative ana
What is the project npv for new excavator : A new excavator worth $10,000 can replace an existing excavator, Assuming a cost of capital at 8% and tax rate of 30%. What is the project NPV?
Information systems in management : 1. After reading the information presented in Chapter 7 and other sources summarize the experiences of 2 companies (not given in textbook) that have used extran
Prepare the necessary journal entries to correct the items : Depreciation for furniture for December was recorded as $15,110 instead of $11,550. Prepare the necessary journal entries to correct the items

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Selected year end financial statements of cabot corporation

Selected year  end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2012, were inventory, $ 48,900; total assets, $ 189,400; common stock, $ 90,000; and retained earnings, $ 2..

  Estimate annual cost savings available through relocating

Falkirk gathered on potential real estate savings through relocation, estimate the annual cost savings available through relocating some or all of accounting

  Calculate the total pounds of delivery boxes saved

Calculate the total pounds of delivery boxes saved because of the new packaging. How much does this save in dollars? How many trees are saved because of recycling and reduction in demand for boxes?

  Solve the npv of the modernization project

Solve the NPV of the modernization project. (Round present value factor calculations to 4 decimal places, e.g. 1.2151 and final answer to 0 decimal places)

  Evaluate direct labor cost and manufacturing overhead

What are the equivalent units for conversion costs for the month in the first processing department and the allocation of Becky's wages and fringe benefits for the week between direct labor cost and manufacturing overhead would be

  Explain the three different types of budgeting

Explain the three different types of budgeting that the company may adopt and explain which type do you think is more effective.

  How decision of federal reserve bank raise interest rate

How does the decision of the Federal Reserve Bank raise interest rates? Is it to be expected to affect each component of the weighted average cost

  What is the forecast sales for the coming week

$44,000, $40,000, and $36,000 for the past three weeks. Using a three-week moving average what is the forecast sales for the coming week?

  What is the net income

Borrowed $11,400 from a local bank and deposited the money in the checking account. What is the net income

  Should bernard company accept the outside company

Should Bernard Company accept the outside company's offer? Why or why not? Show supporting computations. Bernard Company manufactures 20,000 units of part A8

  What the materials and supplies in the flexible budget

The actual materials and supplies for the month was $2,450. What the materials and supplies in the flexible budget for November

  What will happen to equilibrium price and quantity

If fixed costs increase to $1200, what will happen to equilibrium price and quantity?

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