User Account

All Pages

What total amount of cost should be assigned

Assignment Help Accounting Basics
Reference no: EM131788111

Question - Onitsha Corporation uses a weighted average process costing system to collect costs related to production. The following selected information relates to production for June:

Units started into production 25,000

Units completed and transferred out 20,000

Equivalent units- materials 28,000

Equivalent units- conversion costs 26,000

Cost in work in process on June 1- Materials $6,720 Conversion $9,100

Costs added to production during June- Materials $27,120 Conversion $88,400

All materials at Onitsha are added at the beginning of the production process. Conversion costs are incurred uniformly over the production process.

1) How many partially completed units were in work in process inventory at the beginning of June?

2) What total amount of cost should be assigned to the units completed and transferred out during June?

Reference no: EM131788111

Questions Cloud

T is the probability that one ball is white and one is red : An urn contains 4 red and 6 white balls. One ball is drawn, it is not replaced, and a second ball is drawn. What is the probability that one ball is white.
Long-run aggregate supply shift during the great recession : What were the cause of the long-run aggregate supply shift during the great recession?
Compute the cost of the ending inventory under the fifo : Compute the cost of the ending inventory under the FIFO method. Round the cost-to-retail ratio to three decimal places
What does the direction of the trend mean in this context : There is a very slight trend. Is the trend positive or negative? What does the direction of the trend mean in this context? Identify any unusual points.
What total amount of cost should be assigned : Units completed and transferred out 20,000. What total amount of cost should be assigned to the units completed and transferred out during June
Current price of the bonds if the present ytm is given : The Lone Star Company has $1,000 par value bonds outstanding at 9 percent interest. The bonds will mature in 20 years. Compute the current price of the bonds.
What would the correlation be : Capacity of Cars The correlation between the car price (in dollars) and the cubic capacity of the engine (in liters) for some cars is 0.89.
Discuss prepare an insurance claim for a theft loss : You are requested by a client on September 28 to prepare an insurance claim for a theft loss that occurred on that day
Calculate the correlation : The table gives some hypothetical data for number of hours of video games played in a day and BMI (body mass index) for some young teenagers.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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