Prepare a production cost worksheet

Assignment Help Accounting Basics
Reference no: EM131873934

Question - Surf Products Company uses an automated process to clean and polish its souvenir items. For March, the company had the following activities:

Beginning work in process inventory

3,000 items, 1/3 complete

Units placed in production

12,000 units

Units completed

9,000 units

Ending work in process inventory

6,000 items, 1/2 complete

 

 

Cost of beginning work in process

Direct Materials: $2,025

Conversion Costs: $475

Direct material costs, current

$9,000

Conversion costs, current

$7,700

Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.

Required: Prepare a production cost worksheet using the WEIGHTED AVERAGE method.

Reference no: EM131873934

Questions Cloud

What old behaviors will need to be let go : What new behaviors will be needed to effect this change? What old behaviors will need to be let go? Describe a motivational theory
Create an overview of the hipaa security and privacy rule : Analyze the technical controls and the non-technical controls that are needed to mitigate the identified risks and vulnerabilities.
How does one define activism : How does one define activism? There is not just one definition as there as varity of ways in which to engage in activism.
Compute the? bond yield to maturity : a. Compute the? bond's yield to maturity. b. Determine the value of the bond to you given the? market's required yield to maturity on a? comparable-risk bond.
Prepare a production cost worksheet : Surf Products Company uses an automated process to clean and polish its souvenir items. Prepare a production cost worksheet using the WEIGHTED AVERAGE method
What is the yield to maturity on bond : a. What is the yield to maturity on this? b. Should you purchase the bond if the yield to maturity on a? comparable-risk bond is 12 ?percent?
The company purchases the machine today : What is the NPV if the company purchases the machine today?
Computation of solar shade wacc : Solar Shades has 5.9 million shares of common stock outstanding, 4.9 million shares of preferred stock outstanding, and 19 thousand bonds.
How did you select participants or subjects for the study : Participants. (optional) How did you select participants or subjects for the study? What is each participant's background and history?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate annual equivalent cost of maintenance facility

Company X has been contracting its overhauling work to Company Y for $44,000 per machine per year. Company X estimates that by building a $492,000 maintenance.

  Explain what is the purpose of a bank reconciliation

What is the purpose of a bank reconciliation? What are the reasons for differences between the cash reported in the accounting records, and the cash balance in the bank statements?

  Accounting for uncollectible patient accounts

(Accounting for uncollectible patient accounts) The Metro County Hospital could not collect the amount billed to a patient who declared bankruptcy.

  What is the present value of an investment that offers

What is the present value of an investment that offers payments of $6,000 at the end of year 1; $4,000 at the end of year 2; and $2,000 at the end of year 3 if money can be invested at 9 percent?

  Identify and describe the four inventory valuation methods

Identify and describe the four inventory valuation methods. Identify the differences between accrual accounting and cash basis accounting. Explain the difference between cash and cash equivalents.

  Calculate jeanette''s realized gain and recognized gain

Calculate Jeanette's realized gain and recognized gain on the sale of her residence

  What makes revenue recognition a difficult tasks

What makes revenue recognition one of the more difficult tasks accountants face

  Discuss cost data for two levels of monthly sales volume

Management has provided the following cost data for two levels of monthly sales volume

  Savallas company is highly automated and uses computers to

savallas company is highly automated and uses computers to control manufacturing operations. the company uses a

  What will be the partial year depreciation expense

Using straight-line depreciation, what will be the partial year depreciation expense at the end of the first year, December 31

  Balance sheet of euisara inc

The following is a partial listing of accounts for Euisara, Inc., for the year ended December 31, 2010.

  Comment on whether the adopted valuation model

Comment on whether the adopted valuation model/s enhances the information usefulness for the various users of the annual reports, by referring to the  qualitative characteristics of financial information defined by the AASB Framework

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