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Forrests Gameboards company manufactures games in three departments using a process cost system with an average cost flow assumption. Selected cost and production data for the Creation Department, the second department in the production process, for the month just ended, are as follows:
The games are inspected at the end of the process in the Creation Department to detect any spoiled batches. Ending inventory is 75% complete as to materials and 25% complete as to conversion costs. Spolage is assumed to occur at the end of the process.REQUIRED:
1. Compute the equivalent units of production for each cost element in the Creation Dep. for the month just ended.2. Determine the average cost per equivalent unit for each cost element.
The dept started 375,000 units into production during the month and transfered 380,000 completed units to the next dept. Compute the equivalent units of production for the 1st dept for June, assuming that the company uses the weighted average meth..
Identify four types of specialists that you would assemble to provide information to help set the materials price and quantity standards. Briefly explain why you chose each individual
The amount of the proceeds from the issuance that should be accounted for as the initial carrying value of the bonds payable would be.
leila company began an operating lease arrangement with debco industries which was slated to begin on january 1 at
What is the break-even sales volume and dollars for each nut? Rounded.
Overhead is applied to contracts by using a predetermined overhead rate that is based on direct professional labor cost. Actual professional labor during the year was $655,000 and actual overhead was $793,000.
How can I calculate the amount of revenue recognized in April under the cash basis and accrual basis of accounting?
Receivables Turnover Ratio - The receivables turnover ratio tells us how many times accounts receivable have been collected in a given accounting period. Receivables turnover is calculated by taking the last 12 months of sales and dividing by the ..
In November and December 2010, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2011 issue. Lane included the entire $90,000 in its 2010 income tax retur..
Future,Inc. reported the following results for the year: Future's taxable income for the year was:
Suppose that R&B Beverage Company has a soft drink product that shows a constant annual demand rate of 3600 cases. A case of the soft drink costs R&B $3. Ordering costs are $20 per order and holding costs are 25% of the value of the inventory. R&B..
many years ago shipley corporation developed comprehensive budgeting system for profit planning and control purposes.
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