Lucas company uses the weighted-average method in its

Assignment Help Accounting Basics
Reference no: EM13590983

Lucas Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in the Forming Department, which is the first of two stages in its production process. Information concerning operations in the Forming Department in October follows:
Units material cost

  • work in process on October 1..................... 6000 3000
  • units started during October ......................50000 25560
  • units completed and transferred to
  • the next department during October.............44000

What were the materials cost of work in process at October 31?

Reference no: EM13590983

Questions Cloud

Yellow pty ltd uses the percentage of completion method of : yellow pty ltd uses the percentage of completion method of accounting for construction contracts. in 2011 yellow pty
De opens a credit card with an apr of 1949 compounded : dae opens a credit card with an apr of 19.49 compounded monthly. how much is charged in interest this month if her
Assume there is no beginning work in process inventory and : assume there is no beginning work in process inventory and the ending work in process inventory is 100 complete with
In triangle abc if the lengths of 2 sides are 25 amp 50 the : question in triangle abc if the lengths of 2 sides are 25 amp 50 the angle between these two sides is 30 degrees what
Lucas company uses the weighted-average method in its : lucas company uses the weighted-average method in its process costing system. the company adds materials at the
Your firm is considering the purchase of a new bus to : your firm is considering the purchase of a new bus to replace the one they have in use which cost 17000 five years
The angles of elevation of a balloon from two points a and : the angles of elevation of a balloon from two points a and b on level ground are 24.17 degrees and 47.67 degrees
The price of a garment is reduced by 20 and further by 10 : the price of a garment is reduced by 20 and further by 10. nidhi got another 5 discount for detecting a defective
Te company applies manufacturing overhead on the basis of : job 827 was recently completed. the following data have been recorded on its job cost sheet direct

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the machines payback period

Monterey Corporation is considering the purchase of a machine costing $52,000 with a 4-year useful life and no salvage value. Monterey uses straight-line depreciation and assumes that the annual cash inflow from the machine will be received unifor..

  Risk of material misstatement your client a manufacturer of

risk of material misstatement your client a manufacturer of computer components has experienced slowing demand for its

  Calculations of cost per equivalent unit

Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.

  A difference between actual costs and planned

a difference between actual costs and planned costs.should be investigated if the amount is exceptional. indicates that

  Available-for-sale and held-to-maturity debt securities

available-for-sale and held-to-maturity debt securities entries the following information relates to the debt

  Unconsolidated requirement under gaap

AVPR Company sets up a qualifying SPE to sell their accounts receivable (A/R) to the SPE. The SPE meets the unconsolidated requirement under GAAP. The most likely outcome of using the SPE by AVPR will be to:

  The companys ceo believed that the rules are vague and that

smc. inc. operates restaurants based on various themes such as mex - delight chinese for the buffet and steak it and

  Assume the st falls plant uses a single plantwide overhead

assume the st. falls plant uses a single plantwide overhead rate to assign all overhead plantwide and department costs

  Tina is the only shareholder of edgecombe corporation

Tina is the only shareholder of Edgecombe Corporation.

  A sinking fund is an account managed by a bond trustee for

nbsp1.green leaf nursery has ebit of 250000 interest of 30000 taxes of 50000 and depreciation of 80000. what is the

  Computing minimum amount of revenue

What is the minimum amount of revenue that each of these segments must generate to be considered separately reportable?

  Cynthia income from fitness design

Fitness Design reports taxable income of $70,000 and pays $60,000 in dividends to shareholders before considering payments to Cynthia. Cynthia receives a $75,000 salary. What is Cynthia's income from Fitness Design?

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