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nata0808 [166]
3 years ago
11

Multiple Choice Question 64 Concord Company had the following department information about physical units and percentage of comp

letion: Physical Units Work in process, May 1 (65%) 60800 Completed and transferred out 181000 Work in process, May 31 (35%) 50000 If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May
Business
1 answer:
RUDIKE [14]3 years ago
3 0

Answer:

Total Equivalent Units  Materials= 231,000  

Total Equivalent Units  Conversion Costs= 198500

Explanation:

Concord Company

<u>Given</u>

Physical Units

Work in process, May 1 (65%) 60800

Completed and transferred out 181000

Work in process, May 31 (35%) 50000

All materials are added at the beginning of the production process.

Particulars         Units      % of Completion                Equivalent Units

                                      Mat. Conversion Costs     Mat. Conversion Costs

W. I. P, May 31  50,000       100          (35%)             50,000         17500

Completed and

<u>transferred out 181000    100          100                181000           181000      </u>

<u>Total Equivalent Units                                          231,000           198500</u>

The equivalent units are calculated by either adding the beginning work in process and  units started or by adding Ending Wip and completed and transferred units.

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Answer:

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Explanation:

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(1)

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(2)

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(3)

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The coefficient of determination is 0.96 or 96%.

This implies that the percentage of the variation in total cost that can be explained by production volume is 96%.

(4)

For Volume = 500 units predict the total cost as follows:

\text{Total Cost}=1246.67+7.60\ \text{Volume}

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