1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nirvana33 [79]
3 years ago
5

Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that

goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May: Production data: Pounds in process May 1: materials 100% complete: conversion 90% complete 74,000 Pounds started into production during May 390,000 Pounds completed and transferred out ? Pounds in process, May 31: materials 70% complete: conversion 30% complete 34,000 Cost data: Work in process inventory, May 1: Materials cost exist 98, 800 Conversion cost exist 44,000 Cost added during May: Materials cost exist513, 830 Conversion cost exist242, 130 Required: 1. Compute the equivalent units of production for materials and conversion for May 2. Compute the cost per equivalent unit for materials and conversion for May. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. 5. Prepare a cost reconciliation report for May.
Business
1 answer:
geniusboy [140]3 years ago
6 0

Answer:

Explanation:

Beginning WIP inventory                    74000  

Add: Units started during May           390000  

Less: Ending inventory                        34000  

Units completed and transferred       430000  

1                        Equivalent Units

                                                            Whole units Materials    Conversion

Beginning WIP inventory                    74000           74000        74000

Started & completed                          356000     356000        356000

Ending inventory                                34000           23800         10200

Units accounted for                           464000         453800        440200

                                                                Materials Conversion  

Equivalent units of production         453800    440200  

2    

Cost Data:                                                 Total Material Conversion

Beginning WIP inventory                  142800     98800       44000

Current costs                                      755960    513830      242130

Total cost to account for                    898760    612630      286130

Divided by Equivalent units                                    453800 440200

Cost per Equivalent unit                           2.00      1.35 0.65

Materials Conversion  

Cost per Equivalent unit                           1.35 0.65  

3    

Cost Assignment:    

Ending Work in process:    

Material                                                 32130  

Conversion                                            6630  

Total Ending Work in process             38760  

4    

Cost of units completed and transferred    

Material                                                 580500  

Conversion                                            279500  

Total                                                       860000  

5    

Cost to be accounted for:    

Beginning WIP inventory                       142800  

Current costs                                          755960  

Total costs to be accounted for            898760  

Cost accounted for as follws:    

Cost of units completed and transferred 860000  

Cost of ending work in process            38760  

Total costs accounted for                      898760  

You might be interested in
Johanna, an HR manager, has been assigned the task of giving out incentives to small groups of employees in appreciation for acc
Anvisha [2.4K]

Answer:

The correct answer is letter "D": team awards.

Explanation:

Team awards represent all the prizes individual employees or teams obtain after reaching a determined objective or after their performance has been outstanding compared to others. It is an important measure to take at the moment of keeping workers' morale up so their efficient work continues. In some cases, the team awards are given in the form of monetary incentives while in others as recognition.

5 0
3 years ago
A raffle has a grand prize of a European cruise valued at $15000 with a second prize of a weekend in San Diego valued at $1500.
morpeh [17]

Answer:

Explanation:

Grand prize = $15,000

Second prize = $1,500

Number of tickets sold = 12,000

The probability of getting the grand prize ($15,000) is 1/12,000

The probability of getting the second prize ($1,500) is 1/12,000

Each ticket costs $4

Expected value is -4 + 1/12,000 X 15,000 + 1/12,000 X 1,500

= -1.5.

The expected winnings for a ticket buyer is therefore -$1.5

7 0
3 years ago
The janitor at a school discovered a leak in a pipe. the janitor found that it was leaking at a rate of 99 fl oz per minuteminut
Dahasolnce [82]
99 fl ounces is roughly = 0.77 gallons
that being 0.77 x 60 
46.2 gallons per hour.
8 0
3 years ago
Esquire Comic Book Company had income before tax of $1,700,000 in 2016 before considering the following material items: 1. Esqui
mel-nik [20]

Answer:

Explanation:

Partial income statement

For the Year Ended December 31, 2016

Income from continuing operations $975,000

Discontinued operations gain (loss):  

Income from operations of discontinued component $220,000

Income tax expense ($88,000)

Income on discontinued operations $132,000

Net income $1,107,000

Income from operations of discontinued component (including loss on disposal of $420,000) = $220,000

Income from continuing operations:

Income before considering additional items $1,700,000

Decrease in income due to restructuring costs ($75,000)

Before-tax income from continuing operations $1,625,000

Income tax expense (40%) ($650,000)

Income from continuing operations $975,000

5 0
3 years ago
When managers delegate work, three transfers occur. the three transfers are responsibility, authority, and _____?
charle [14.2K]

When managers delegate work, three transfers occur. the three transfers are responsibility, authority, and accountability

3 0
3 years ago
Other questions:
  • According to our discussion in class, two reasons why capital may not flow to poor countries are that the poorer countries may:_
    11·1 answer
  • Service quality greatly depends on the quality of the buyer-seller interaction during the service encounter. this is known as​ _
    8·1 answer
  • Imagine the following scenario: You have asked respondents to rate a certain product on the scale of 1 to 5. In the survey data
    13·1 answer
  • You own a portfolio that is 25 percent invested in Stock X, 40 percent in Stock Y, and 35 percent in Stock Z. The expected retur
    7·1 answer
  • Assume you are the manager of Assembly, Inc. You have just received an order for 38 units of an industrial robot, which is to be
    5·1 answer
  • According to supporters of globalization,
    10·1 answer
  • At the beginning of the period, the Assembly Department budgeted direct labor of $60,500 and property tax of $26,000 for 5,500 h
    8·1 answer
  • What are some facts about fishing? ​
    15·2 answers
  • The following data have been recorded for the production of Product A-11 in the current period. Direct materials cost was $2,079
    12·1 answer
  • Assume a pension fund purchased stock at $53. Call options at a $50 exercise price presently have a $4 premium per share. The pe
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!