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Question: Weighted-average method, spoilage. Logic Co is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added evenly during the process. Some units of this product are spoiled as a result of defects not detectable before inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Logic Co uses the weighted average method of process costing. Summary data for September 2017 are as follows:
1. For each cost category, compute equivalent units. Show physical units in the first column of your schedule.
2. Summarize the total costs to account for; calculate the cost per equivalent unit for each cost category; and assign costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process.
Prepare a multiple-step income statement. Calculate the Profit Margin, and Gross profit rate for the company. Be sure to provide the formula you are using, show your calculations, and discuss your findings/results.
find a journal article online about standard costing. in the subject line of your post include the title of the article
patton company purchased 400000 of 10 bonds of scott co. on january 1 2011 paying 376100. the bonds mature january 1
monex reported 65000 of net income for the year by using absorption costing. the company had no beginning inventory
Accounting software packages can quickly print out volumes of journals, reports, and financial statements. The old adage "garbage in, garbage out".
leavertons forecast of sales is as follows july 60000 august 90000 september 130000. sales are normally 80 percent cash
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Determine the true cash balance by preparing a bank reconciliation as of June 300, 2012, using the preceding information.
harrington precision parts repaired one of its boeing 737 aircrafts at a cost of 150000. harrington precision parts
The before-tax cost of debt for a firm, which has a marginal tax rate of 40 percent, is 12 percent. The after-tax cost of debt is ________.a. 4.8 percent.b. 7.2 percent.c. 12 percent.d. 6.0 percent.
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Random Enterprises signed a discounted note on Jan 1, 2010 promising to pay the lender $10 million in 2 years, and will not make periodic interest payments. The lender wants to earn a 12% APR
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