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The PVC Company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May: Production data: Pounds in process, May 1: materials 100% complete; conversion 90% complete 66,000 Pounds started into production during May 310,000 Pounds completed and transferred to the next department ? Pounds in process, May 31: materials 70% complete; conversion 30% complete 26,000 Cost data: Work in process inventory, May 1: Materials cost $ 68,300 Conversion cost $ 19,300 Cost added during May: Materials cost $ 355,130 Conversion cost $ 105,930 The company uses the weighted-average method. Required: 1. Compute the equivalent units of production. Materials=? Conversion=? 2. Compute the costs per equivalent unit for the month.Materials=? Conversion=? 3. Determine the cost of ending work in process inventory and of the units transferred out to the next department. Materials Conversion Total Cost of ending work in process inventory $ $ $ Cost of units completed and transferred out $ $ $ 4. Prepare a cost reconciliation report for the month.
Nevada's engineers have found a way to reduce equipment manufacturing time. The new method would cost an additional $60 per unit and would allow Nevada to manufacture 20 additional units a year - Should Nevada use the new design?
An audit client is being sued for $500,000 for discriminatory hiring practices. Indicate the appropriate action the auditor should take for each of the following independent responses to the letter of audit inquiry:
identify and explain the inventory asset and cost flows of a merchandising company. provide
Complete the income statement through gross profit for the year ended December 31, 2011. (List amounts from largest to smallest eg 10, 5, 3, 2.)
The following labor standards have been established for a particular product: What is the labor efficiency variance for the month?
What are some of the advantages and the disadvantages of database forms? What is your experience in using Queries? Have you ever read the SQL commands generated by a Query in Access database?
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
Greenville Corporation is considering the addition of a new product to its current product lines. The expected cost and revenue data for the new product are as follows:
evaluate the difficulties companies are faced in implementing a control framework against fraud under sarbanes-oxley
A not-for-profit organization receives a restricted gift. When, and in which type of fund, should it recognize the revenue? When, and in which type of fund, should it recognize the related expense? What is the reason for the apparent inconsistency..
The following financial information, what should the calculation of the current ratio (current assets/current liabilities) be using US GAAP and IFRS?
How much gain or income will Ben recognize on his contribution of the land to the partnership? What is the character of any gain or income recognized?
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