Pitman chemical company manufactures and sells goody a

Assignment Help Accounting Basics
Reference no: EM13482137

Pitman Chemical Company manufactures and sells Goody, a product that sells for $10 per pound. The manufacturing process also yields 1 pound of a waste product, called Baddy, in the production of every 10 pounds of Goody. Disposal of the waste product costs $1per pound. During March, the company manufactured 200,000 pounds of Goody. Total manufacturing cots were as follows:

Direct materials                       $232,000

Direct labor                                120,000

Manufacturing support cost         60,000

Total costs                                $412,000

Determine the cost per pound of Goody.

Reference no: EM13482137

Questions Cloud

Credit sales are 80 of total sales collections of credit : corporation has the following sales budgetmonth budgeted salesmay 84000june 100000july 92000august 110000september
Safe travel is concerned with the high upfront cost of : safe travel produces car seats for children from newborn to 2 years old. the company is worried because one of its
Prepare a schedule to determine the incremental cost or : a company manufactures an electric motor that is uses inseveral of its porducts. management is considering whether to
The charges to work in process-baking department for a : the charges to work in process-baking department for a period as well as information concerning production are as
Pitman chemical company manufactures and sells goody a : pitman chemical company manufactures and sells goody a product that sells for 10 per pound. the manufacturing process
Fireout inc manufactures steel cylinders and nozzles for : fireout inc. manufactures steel cylinders and nozzles for two models of fire extinguishers 1 a home fire extinguisher
Morrison company carefully records its costs because it : morrison company carefully records its costs because it bases prices on the cost of the goods it manufactures. morrison
Kragan clothing company manufactures its own designed and : kragan clothing company manufactures its own designed and labeled sports attire and sells its products through catalog
Ku inc operates a store featuring school merchandise it : ku inc. operates a store featuring school merchandise. it uses an eoq decision model to make inventory decisions. it is

Reviews

Write a Review

Accounting Basics Questions & Answers

  Pros and cons of implementing ifrs in us

Prepare a proposal for what consulting services SLL should offer and to whom, inlcuding current auditing clients, other clients, or both.

  Internal control structure policies and procedures

Describe the key internal control structure policies and procedures related to Grant's property, equipment, and related transactions (additions, transfers, major maintenance and repairs, retirements, and dispositions) that Harris may consider in a..

  Meaning of contribution margin in layman terms

Vince's assistant manager, an accounting major, has suggested that the firm should try to increase the contribution margin per pizza. Explain the meaning of "contribution margin" in layman's terms.

  Separate set of books-joint venture transactions

Prepare the necessary ledger accounts assuming that a separate set of books are maintained for the joint venture transactions

  Financial management-wcmc ipo

Calculate the initial return earned by investors who are allocated shares in the IPO. What is the total cost ( underwriting fee and underpricing) of this issue to WCMC?

  Problem related to conversion costs

The November 1 work-in-process inventory consisted of 8,000 units, 50% complete with respect to conversion costs. A total of 25,000 units were completed and transferred out of the department during the month. What was the number of units started d..

  Determining the inventory turnover ratio

The following information was available for Bowyer Company at December 31, 2010: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $660,000; and sales $900,000. Bowyer's inventory turnover ratio in 2010 was:

  Difference between deep space''s net operating income

Provide the following (and support ALL of your work)- c) Reconcile and explain the difference between Deep Space's Net Operating Income using variable costing and absorption costing.

  Formula for computing book value per share

The ledger of JFK, Inc. shows common stock, common treasury stock, and no preferred stock. For this company, the formula for computing book value per share is?

  Journal entries for not for profit science center

Discovery Barn, a not-for-profit science center for children, received a contribution for $30,000 explicitly designated for the acquistion of computers. Prepare all required journal entries, being certain to indicate the type of fund in which each ..

  Supposing that a credit for merchandise returned of 700 is

a sales invoice included the following information merchandise price 5000 freight 900 terms 110 neom fob shipping

  Forecast mileage for next year using year moving average

Forecast the mileage for next year using a2-year moving average. Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 2,900miles.

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