User Account

All Pages

Prepare cost of production report

Assignment Help Financial Accounting
Reference no: EM133004371

Sandust Inc. adds materials at the beginning of the process Materials Conversion Cost in Department 1. Conversion costs were 75% complete as to the 8,000 units in WIP on August 1 and 50% complete as to 6,000 units in WIP on August 31. During August, 12,000 units were completed and transferred to the next department.

An analysis of the cost relating to the WIP on August 1 and to production activity for August is as follows:

WIP, August 1 9,600 4,800

Cost Added in August 15,600 14,400

Problem 1. Prepare Cost of Production Report (CPR) using FIFO Method

Problem 2. Below the CPR, answer the following:

a. Equivalent units of Materials

b. Equivalent units of Conversion Cost

c. Cost per EUP

d. Cost of Units completed and transferred out

d. Cost of WIP, end

 

Reference no: EM133004371

Questions Cloud

Is a good thing or a bad thing for the company : Is a good thing or a bad thing for the company? Geraldine's Grocery Store noticed that the company's current ratio has increased from 3.50 last year
Compute the company times interest earned ratio : Amanda's Armchair Sales and Repair has interest expense of $12,000 per year. Compute the company's times interest earned ratio.
What does mean for javier has noticed that company debt : Javier has noticed that his company's Debt to Total Assets Ratio has increased from .25 a year ago to .65 today. What does this mean?
What would be the relevant risks exposure : How an adverse economic climate would impact a bank's balance sheet. What would be the relevant risks exposure and how are bank's likely to respond?
Prepare cost of production report : Prepare Cost of Production Report (CPR) using FIFO Method. Sandust Inc. adds materials at the beginning of the process Materials Conversion
Prepare the journal entries for the franchisor : Prepare the journal entries in 2020 for the franchisor under the franchisor has substantial services to perform, once the franchise begins operations
Explain the process would use to create a master budget : Explain the process it would use to create a master budget. How would the budget process for the service company differ from a manufacturing company?
How can two companies with identical p and l statements : How can two companies with identical P & L statements (identical profitability) at year-end provide different annual returns to each of their investors?
Which would not be an example of a fixed cost : What is the primary difference between variable and absorption costing? Which of the following would not be an example of a fixed cost?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What amount should the company record the land

Company on behalf of the seller and $1,000 due for the current year after the purchase date. For what amount should the company record the land?

  Compute the z score using altman model

Commercial bank for the year ended 31 December 2019. Compute the Z score using Altman's model. Giving reasons, explain the financial position of the bank.

  What is the chance that there will be a need

The average number of Saturday night shootings is 5 a night. What's the chance that there will be a need for exactly 3 shootings this Saturday

  How much revaluation impairment loss should be recognized

BTS Co. purchased land worth P20,000,000 on Jan.How much revaluation deficit/impairment loss should be recognized in the income statement on December 31, 2022?

  What was the company depreciation

The company has $6,600 interest expense, and the corporate tax rate is 35 percent. What was the company's depreciation and amortization expense

  How much is the non-current liabilities

If the company's working capital of $50,000 did not change and the ending shareholders' equity is $500,000, how much is the non-current liabilities?

  Explain why fridges ltd can or cannot claim a deduction

Fridges Ltd manufactures drink fridges in a factory in Christchurch. Explain why Fridges Ltd can or cannot claim a deduction for the cost of installing

  How does lands end use its free cash flow

How does Lands End use its free cash flow? Do you think its use of free cash flows reflects good financial strategy?

  Multiple choice questions on partnership and fundamentals

multiple choice questions on partnership and fundamentals of accounts.1.nbspafter one year of operation of the smith

  Why is highly unlikely that the component costs of debt

Why is highly unlikely that the component costs of debt and equity would stay the same if new debt is issued and the capital structure mix changes.

  Manufacturing cycle efficiency for operation

Hart Manufacturing operates an automated steel fabrication process. For one operation, Hart has found that 45% of the total throughput (manufacturing cycle) time is spent on non-value-added activities. Delivery cycle time is 12 hours, waiting time du..

  Without having to lay off employees or shut down entirely

Running a business presents challenges such as managing finances from a broad scale, including ensuring the bills are paid, credit is not misused, and keeping the doors open. Do you think there are ways to combat such challenges without having to lay..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd