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Problem - FIFO - Equivalent Production - The equivalent production of 22,000 units under the average costing is arrived at as follows:
Finished and transferred - 20,000 units x 100% = 20,000
In process, March 31 - 3,000 units x 2/3 = 2,000
Required - With the beginning work in process consisting of 5,000 units, 1/5 done, what should be the equivalent production under FIFO?
The company's net sales in January were $210,800. Calculate the estimated cost of ending inventory using the gross profit method
From the Trial Balance and additional information of Mr Raj, prepare Trading and Profit and Loss Account for the year ended on Mar 31, 2009 and the Balance Sheet
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They will sell the CD's for $ 88 each. Let x be the number of CD's produced. Write the total cost TC as a function of the number of CD's produced
Prepare a statement of cost of goods sold in good form. What if only 32,000 cell phones were to be sold next year? Explain whichlines of the statement of cost of goods sold would be affected and how.
Compute the cost per equivalent unit for materials using the FIFO method - compute Costs per Equivalent Unit: Weighted-Average Method
Calculate equivalent units of transferred-in costs, direct materials, and conversion costs - summarize total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs.
The spoilage is considered a part of all jobs. What amount should be debited to Factory Overhead Control to record spoilage pertaining to unrecovered cost?
Consider a ride-sharing service such as Uber or Lyft. What are some of the major cost categories? Are they mostly fixed or mostly variable costs?
Explain the relevance of cost acconting in today's environment Includeconcepts covered and These are the role of cost accoutants, cost terms and purposes, job and process costing and the concepts of flexible budgets, variances and management contro..
What is the cost of direct materials used during the year and what is the cost of goods manufacturing for the year and what is the cost of goods sold for the year
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