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The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day: Beginning WIP inventory: Direct materials $ 2,200 Conversion costs 700 Current period costs: Direct materials 30,488 Conversion costs 20,555 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 560 units (60% complete as to materials, 60% complete as to conversion) Current period units started 4,200 units Ending inventory 1,100 units (40% complete as to materials, 20% complete as to conversion)
Required: Compute the cost of goods transferred out and the ending inventory using the FIFO method. (Round unit costs for materials and conversion to 2 decimal places and the final answers to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.) Cost of goods transferred out $ Cost of ending inventory $
The balance sheet for Chaney Resources Inc. at the end of the current fiscal year indicated the following:
The Accounts Receivable account of Samson Company shows a debit balance of $52,000 at the end of the year. An aging analysis of the individual accounts indicates estimated uncollectible accounts to be $3,350.
The depreciation expense is related to the company's sole $60,000 asset, which is predictable to last 4 years. The cost of capital is 10%.
porter corporations balance sheet at december 31 2011 is presented below.porter corporation balance sheet december 31
Mel is not quite sure whether an expenditure he made is a deduction for AGI or a deduction from AGI. Since he plans to choose the standard deduction option for the year, does the distinction matter? Explain.
on december 312010 dow steel corporation had 600000 shares of common stock and 300000 shares of 8 noncumulative
you were recently admitted to college and your aunt tillie has agreed to fund the tuition for your education. the
the following information is available actual inputs for actual price each unit of output per unit of input direct
Kuczenski Corporations cost formula for its manufacturing overhead is $45,700 per month plus $53 per machine hour. For the month of March, the company planned for activity of 6,200 machine-hours, but the actual level of activity was 6,150 machine ..
Parr Hardware Store had net credit sales of $5,200,000 and cost of goods sold of $4,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover was ..
identify a firm that you think has a strong platform. why do you think that is so? what are the factors critical to the
boxwell corporation purchased 60 percent of conway company on january 1 20x7 for a total of 277500. conway reported the
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