Reagan products manufactures a silicone paste wax that goes

Reference no: EM13581646

Reagan Products manufactures a silicone paste wax that goes through three processing departments: cracking, blending, and packing. All raw materials are introduced at the start of work in the cracking department, with conversion costs being incurred uniformly in each department. The Work-in-Process T-account for the cracking department for July is:

Work-in-Process Inventory - Cracking Department
Balance, July 1 (35,000 lbs. 80% complete) $63,700
Direct Materials (280,000 lbs.) 397,600
Conversion Costs 189,700
Balance, July 1 (45,000 lbs. 66.7% complete) ?
Costs Transferred to Blending Dept. ?

The beginning balance inventory consists of $43,400 in materials cost. Reagan uses the first-in, first-out (FIFO) method to account for its operations.

Required: (Round to 4 decimal places when computing)
(a) Compute the Cracking Department inventory balance on July 31?
(b) Compute the cost transferred to the Blending Dept. in July?

Reference no: EM13581646

Questions Cloud

It costs bodhis inc 70 per unit to manufacture 1000 units : 1nadine inc. has a variable cost ratio of 70 and fixed costs of 90000. what sales revenue is needed to generate a

Calculate ending inventory and cost of goods sold at august : calculate ending inventory and cost of goods sold at august 31 2012 using the specific identification method. the

The diamond freight company has been offered a seven-year : the diamond freight company has been offered a seven-year contract to haul munitions for the government. because this

Emille corp has a selling price of 20 per unit variable : 1last month karina company had a 60000 profit on sales of 300000. fixed costs are 120000 a month. what sales revenue is

Reagan products manufactures a silicone paste wax that goes : reagan products manufactures a silicone paste wax that goes through three processing departments cracking blending and

Considering the cash flow impact of the equipment as well : xyz company has the option to purchase additional equipment that will cost about 42000 and this new equipment will

The accountant for teresau2019s dress shop prepared the : the accountant for teresau2019s dress shop prepared the following cash budget. teresau2019s desires to maintain a cash

Minden companys required rate of return is 10 the company : .minden companys required rate of return is 10. the company can purchase a new machine at a cost of 40500. the new

Determine the amount of net cash flows from operating : determine the amount of net cash flows from operating activities teresau2019s will report on the third quarter pro

User Account

All Pages