How many beanie babies toys were actually worked

Reference no: EM131763389

Question: Ty Inc. manufactures Beanie Babies using a Weighted Average process costing system. The manufacturing occurs in two stages: Department 1 sews fabric pieces together and stuffs the Beanie Baby and Department 2 packages the completed product. The following data is available for production in Department 1 during November:

Beginning Goods in Process - 30% complete on Nov. 1 30,000 units

Units Started in November 320,000 units

Units Completed in November 310,000 units

Ending Goods in Process - 90% complete on Nov. 30 40,000 units

All materials used in Department 1 are added at the start of the manufacturing process. Direct labor and factory overhead are added evenly throughout the manufacturing process. The costs associated with November's production were:

Beginning Goods in Process balance (materials) $6,000

Beginning Goods in Process balance (direct labor costs) $3,000

Beginning Goods in Process balance (factory overhead) $7,000

Materials added in November $64,000

Direct labor costs in November $90,420

Factory overhead costs in November $96,800

1. How many Beanie Babies toys were actually worked on in Department 1 during November?

a. 310,000

b. 350,000

c. 320,000

d. 380,000

2. What were the equivalent units of production for materials for the month of November?

a. 310,000

b. 340,000

c. 320,000

d. 350,000

3. What were the equivalent units of production for both direct labor and factory overhead for the month of November?

a. 325,000

b. 346,000

c. 337,000

d. 350,000

Reference no: EM131763389

Questions Cloud

Which machine should be selected on basis of future worth : Which machine should be selected on the basis of a future worth analysis at an interest rate of 11% per year? (show your calculations of the future worth.

Determine the effective annual percentage interest rate : Determine the effective annual percentage interest rate on these loans. Round your answer to two decimal places.

Estimate the cost equation using the high-low method : Estimate the cost equation using the High-Low Method, and draw this line on your graph

Foggy futures weather forecasting company : The earnings of Foggy Futures Weather Forecasting Company are expected to grow at an annual rate of 14% over the next 5 years and then slow.

How many beanie babies toys were actually worked : Ty Inc. manufactures Beanie Babies using a Weighted Average process costing system. The manufacturing occurs in two stages: Department 1 sews fabric pieces.

How accurate is statement : This policy will cover you when you are driving my car, and it will cover anyone when they are driving your car." How accurate is this statement?

Relational dialectics with those of social exchange theory : Compare the "heuristic" qualities of Relational Dialectics with those of Social Exchange Theory.

How are the careers within the field of corrections project : How are the careers within the field of corrections projected to change over the next decade? What trends are included in these changes?

Compare the primary care cost per member per month : Compare the primary care cost per member per month of the group of SMI members without a chronic disease to the group with a chronic disease.

User Account

All Pages