What were the equivalent units for conversion cost

Assignment Help Accounting Basics
Reference no: EM132557780

Question - Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 73,100 chairs. During the month, the firm completed 78,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,800 chairs in ending inventory. There were 15,700 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Comfort. Beginning work in process was 30% complete to conversion costs, while ending work in process was 75% complete to conversion costs.

Beginning inventory:

Direct materials $24,800

Conversion costs $36,000

Manufacturing costs added during the accounting period:

Direct materials $168,100

Conversion costs $278,800

What were the equivalent units for conversion cost during February?

Reference no: EM132557780

Questions Cloud

Protein is one of most misunderstood nutrients : Protein is one of the most misunderstood nutrients. What do you think is the most important function of protein?
Compute total cash from financing activities : In 2005, the company issued additional common shares for $500,000 and borrowed $600,000 from the bank. Compute total cash from financing activities
Briefly describe the process of compilation : Briefly describe the process of compilation. In your discussion, include the role of the high-level languages, low-level languages, machine code, opcodes
Make a statement of mary adjusted cash book balance : Make A statement of Mary's adjusted cash book balance. On 30th April 2016, Mary's bank statement reflected a balance of R922,260
What were the equivalent units for conversion cost : Comfort chair company manufacturers a standard recliner. What were the equivalent units for conversion cost during February
Social-cognitive perspective with humanistic perspective : Write a paper comparing the main themes of the social-cognitive perspective with the humanistic perspective.
Calculate the amount of depreciation under each depreciation : Cost of equipment was $75,000 with $5,000 residual value. Calculate the amount of depreciation under each of the three depreciation methods
Determine variable factory overhead controllable variance : Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance
Estimate the amount of cost of goods sold to be reported : Estimate the amount of cost of goods sold to be reported in the consolidated income statement for 2017 relating to the relevant intra-group sales.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What entry should be made at the time of the issuance

What entry should be made at the time of the issuance of the bonds and warrants?

  Provide the journal entry to record the payroll tax expense

Provide the journal entry to record the payroll tax expense for the period. If an amount box does not require an entry, leave it blank. Round to two decimal

  Following the revolutionary war and separation from england

american constitutionfollowing the revolutionary war and separation from england the need for a new government was

  In anticipation of property tax revenues to be received

yarrow county engaged in the following debt-related transactions during the year. required assume that the county

  How much must be deposited at the beginning

If they are able to earn 6% per annum, how much must be deposited at the beginning of each of the next 18 years to fund the education

  Prepare the journal entries to record bond transaction

On January 1, 2020, 1,300, 8%, 5-year, $1,000 bonds dated January 1, 2020, were issued at face value. Prepare the journal entries to record bond transaction

  Calculate unit cost and the cost of finished goods inventory

Snyder Company produced 86,200 units during its first year of operations and sold 83,450. Calculate unit cost and the cost of finished goods inventory

  Calculation of total gross margin under absorption costing

The problem belongs to Accounting and it describes about calculation of total gross margin under absorption costing

  Calculate the incremental net operating

barker company has a single product called a zet. the company normally produces and sells 86000 zets each year at a

  Study appendix 13 consider the following data regarding

study appendix 13. consider the following data regarding factory overhead variable fixed budget for actual hours of

  Please prepare a flowchart with appropriate

Please prepare a flowchart with appropriate flowchart symbols to represent the procedures and documents for cash collections from credit customers.

  Record purchase and all investment-related subsequent events

Prepare journal entries under each of the following methods to record the purchase and all investment-related subsequent events on the books

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!

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