Find what would be cost per equivalent unit for conversion

Assignment Help Managerial Accounting
Reference no: EM132662197

Fisher Company uses the FIFO method in its process costing system. Operating data for the Smelting Department for the month of September appear below:

Percentage Units complete Beginning work in process inventory 19,000 80%

Transferred in from the prior department during September 74,000

Ending work in process inventory 17,000 90%

Problem 1: According to the company's records, the conversion cost in beginning work-in-process inventory was $83,600 at the beginning of September. Additional conversion costs of $427,682 were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for September on the Smelting Department's production report? (Round off to three decimal places.)

a) $5.498.

b) $5.779.

c) $5.620.

d) $5.500

Reference no: EM132662197

Questions Cloud

Find days sales outstanding ratio : - A business has $1,500,000 in accounts receivable. Its annual sales for the fiscal year is $30,000,000. What is its days sales outstanding ratio?
Corporate culture at wells fargo : How much blame does the board deserve? What could it have done differently to prevent the cross-selling issue from snowballing?
Floating exchange rates in a small open economy : Using IS, LM and BP schedules to discuss the effectiveness of fiscal policy under fixed exchange rates as well as floating exchange rates in a small open
What is the prevalence of pain in the older adult : What are some of the potential barriers related to self-reporting of pain in the older adult? What is the prevalence of pain in the older adult?
Find what would be cost per equivalent unit for conversion : Find what would be the cost per equivalent unit for conversion costs for September on the Smelting Department's production report?
What is ending wealth after 10 years : You invest $1,000 today in a well-diversified large stock mutual fund. You do not make any additional contributions. However, you set up your fund
Define leadership style and explain why it is important : Define leadership style and explain why it is important to for health care leaders to understand their leadership style. Outline the leadership skills.
International trade and investment theories : Ability to apply relevant theories, policies and tools in critical analysing, decision making and problem solving - communicate analysis and findings
Which of the statements is reasonable to assume : Cost transfers from one department to another under a process costing system, then which of the following statements is reasonable to assume?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Describing customer perceived value-total customer benefit

Describe customer perceived value, total customer benefit, and total customer cost. How do the total customer benefit and the total customer cost affect the consumer's perception? Explain.

  How to calculate the direct materials quantity variance

How to Calculate the direct materials quantity variance. Calculate the direct labor efficiency variance. Calculate the direct labor rate variance.

  Prepare a forecasted contribution margin income statement

To obtain these savings, the company must increase its annual fixed costs by $150,000. The maximum output capacity of the company is 40,000 units per year.

  Compute the break-even point in units and dollars

Compute the break-even point in units and dollars. (Round answers to 0 decimal places, e.g. 1,250.)

  Calculate required sales units to achieve operating income

Slugger Co. sells 15,000 units to retailers for $10 per unit. Calculate the required sales units to achieve operating income of 25 percent of sales revenue.

  Discuss whether airline companies currently flying

South Australian Government announced that a deal was reached with a Chinese airline that will ensure the first direct flights between Adelaide and mainland

  How do select a public manufacturing company

How do Select a public (i.e. one that publishes its financial information) manufacturing company and become familiar with its products.

  Which the price discrimination increases profits

Luxury hotels in big cities can charge, Explain in one paragraph the circumstances under which this price discrimination increases profits?

  How do determine the simple rate of return on the investment

How do Determine the simple rate of return on the investment. The management of Nixon Corporation is investigating purchasing equipment

  What is the variable cost per minute

What is the variable cost per minute? (Round your answer to the nearest cent.) The phone bill for a company consists of both fixed and variable costs.

  Research shown that in framing capital investment decision

Research has shown that in framing capital investment decisions past (i.e., "sunk") costs or losses tend to? Have a slight impact on the decision-making process

  Determine the range of annual cash inflows

Determine the range of annual cash inflows for each of the two projects. Construct a table showing the NPVs for each project for each of the possible outcomes.

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