Process inventory in the department

Assignment Help Accounting Basics

Reference no: EM13142216

The Morgan Company uses the weighted-average method in its process costing system. For a particular department, the company had 54,000 equivalent units of production with respect to conversion costs in March. There were 7,500 units in the department's beginning work in process inventory, two thirds complete with respect to conversion costs. During March, 52,500 units were started and 50,000 were completed and transferred out of the department. The ending work in process inventory in the department:

a. consisted of 5,000 units.

b. consisted of 2,500 units.

c. was 65% complete with respect to conversion costs.

d. was 40% complete with respect to conversion costs

Reference no: EM13142216

Questions Cloud

Prepare journal entry to record the purchase of this truck : Garcia Corporation purchased a truck by issuing an $80,000, 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 10%. Prepare journal entry to record the purchase of this truck.

Probability-sell car to exactly two of next three customers : A new car salesperson knows that he sells cars to one customer out of 20 who enter the showroom. The probability that he will sell a car to exactly two of the next three customers is?

What amount should cox show in the investment account : What amount should Cox show in the investment account at December 31, 2012 if the beginning of the year balance in the account was $40,000?

What other consequences might result from electron carriers : when flavoprotein transfers electrons directly to the final electron acceptor hydrogen peroxide is produced. What other consequences might result from electron carriers in the ETC being bypassed?

Process inventory in the department : There were 7,500 units in the department's beginning work in process inventory, two thirds complete with respect to conversion costs. During March, 52,500 units were started and 50,000 were completed and transferred out of the department. The endi..

Is this project economically feasible : Is this project economically feasible? Show work in an excel spreadsheet that lists the benefit for each individual.

Compute cost of goods purchased and the cost of goods sold : Compute the cost of goods purchased and the cost of goods sold. Prepare the income statement for 2011

Find standard deviation of the sampling distribution of mean : What is the standard deviation of the sampling distribution of the sample mean x if a sample of 64 students is selected at random from the entire freshman class?

Compare the recipes of nutrient agar and he agar : Compare the recipes of nutrient agar and HE agar. If an organism can grow on both media, on which would you expect it to grow better? Why?

User Account

All Pages