Solution-What is the measurement of the work in process

What is the measurement of the work in process inventory

Assignment Help Accounting Basics

Reference no: EM133178290

Question - KK Company used the lower of cost or net realizable value method to measure inventory. Data regarding the its items in work in process inventory are as follows:

	Markers	Pens	Highlighters
Historical cost	240,000	188,000	300,000
Selling price	360,000	250,000	360,000
Estimated cost to complete	48,000	50,000	68,000
Replacement cost	208,000	168,000	318,000
Normal profit margin as a percentage of selling price	25%	25%	10%

Required - What is the measurement of the work in process inventory?

Reference no: EM133178290

Questions Cloud

Advantages of drawing talent from internal labor markets : Question 1: Explain two advantages of drawing talent from internal labor markets.

What is the amount of exchange gain or loss : Ignoring the time value of money, what is the amount of exchange gain or loss that would appear in the financial statements of Yellow pty for year ended 31 July

Differences between depreciation expense and impairment loss : Explain the differences between depreciation expense and impairment loss of property, plant and equipment, discussing the depreciation methods

What is carrying amount of the liability on december : The coupon rate is 10% per annum. The current market rate on similar bonds is 12%. What is carrying amount of the liability on 31 December 20x1

What is the measurement of the work in process inventory : KK Company used the lower of cost or net realizable value method to measure inventory. What is the measurement of the work in process inventory

Record the acquisition and re-issuance of treasury shares : Record the acquisition and re-issuance of treasury shares based on the following: Ordinary Shares, Php50 par value, 10,000 shares Php500,000

How many units were completed and transferred : On 1 April, Department 2 had 3035 units, which were 35 per cent complete as to conversion cost. How many units were completed and transferred

How much should the copy right be initially recognized : Documentation expenses related to the copy acquisition, 1.5M. How much should the copy right be initially recognized

What amount should be reported as interest income : GG Company sold equipment with a carrying amount of P4,608,000 in exchange. What amount should be reported as interest income

User Account

All Pages

What is the measurement of the work in process inventory

Reference no: EM133178290

Reference no: EM133178290

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT