User Account

All Pages

What are the amounts allocated to the work-in-process

Assignment Help Managerial Accounting
Reference no: EM133117437

Question - Pepper Potts Pottery manufactures ceramic products. All direct materials are included at the inception of the production process. For March, there was no beginning inventory in the processing plant. Direct materials totaled $155,000 for the month. Work-in-process records revealed that 2,500 tons were started in March and that 1,500 tons were finished; 500 tons were spoiled as expected. Ending work-in-process units are complete in respect to direct materials costs. Spoilage is not detected until the process is complete.

Required - Determine the following:

1. What are the costs assigned to completed units when spoilage units are recognized and when they are not recognized in the cost per equivalent unit?

2. What are the costs transferred out if spoilage units are recognized and if they are ignored?

3. What are the amounts allocated to the work-in-process ending inventory when spoilage units are recognized and when spoilage units are ignored?

Reference no: EM133117437

Questions Cloud

Digital forensics profession and investigations lab : Complete "Understanding the Digital Forensics Profession and Investigations Lab" in MindTap. Access MindTap through the learning management system classroom.
Business intelligence : List and briefly describe the nine-step process in con-ducting a neural network project.
Low-level radiological contamination attacks : This chapter's opening scenario illustrates a specific type of incident/disaster. low-level radiological contamination attacks.
What was White capital balance at the end : Each partner withdrew $1,500 for personal use every month during 2020 and 2021. What was White's capital balance at the end of 2021
What are the amounts allocated to the work-in-process : What are the amounts allocated to the work-in-process ending inventory when spoilage units are recognized and when spoilage units are ignored
What amount did Stephanie have to pay : Stephanie was injured in a car accident and was rushed to the emergency room. What amount did Stephanie have to pay
Should marijuana be legalized : Should marijuana be legalized - The argument for Legalizing: Premise: marijuana is good for the economy and lowers crime
What is the equivalent annual cost of this equipment : The relevant tax rate is 25 percent. All cash flows occur at the end of the year. What is the equivalent annual cost (EAC) of this equipment
What was Singh net income : During 2018 the following events occurred at Singh Inc.: owners invested $10,000 of cash; What was Singh net income

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd