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BabaBlast [244]
3 years ago
11

Basic FLows, Equivalent Units

Business
1 answer:
FinnZ [79.3K]3 years ago
3 0

Answer:

1.(a) Number of units transferred to Tableting, 384,000 ounces

(b) Equivalent units of production. Materials 420,000 , Conversion 402,000

2. For Tableting, the number of units transferred out to Finished Goods. 396,000 ounces

3. Units Transferred to Finished Goods 396000 ounces  = 49500 bottles or 4,950,000 tablets.

Explanation:

<u>Thayn Company</u>

<u>Weighted Average Method</u>

<u> Mixing</u>

First we calculate the number of units transferred out.

BWIP           zero;

<u>Units Started 420,000 </u>

<u>Total Units   420,000</u>

<em>The total units remain the same . They are obtained either by adding BWIP and units started  or by adding EWIP or units transferred.</em>

EWIP  36,000 units,

<u>Units Transferred 384,000</u>

<u>Total Units            420,000</u>

<u>Equivalent Units</u>

<u>Particulars</u>       <u>Units </u>        <u>% of Completion</u>          <u>Equivalent Units</u>

                                              <u> Mat. Conversion</u>       <u>Materials Conversion</u>

Units Transferred  384,000      100        100         384,000    384,000

<u>EWIP                   36,000            100         50           36000      18000</u>

<u>Equivalent Units </u><u>                                                    </u><u>  420,000     402,000</u>

<u>Tableting</u>

<em>The total units remain the same . They are obtained either by adding BWIP and units started  or by adding EWIP or units transferred.</em>

BWIP  24,000 units

<u>Units Received 384,000</u>

<u>Total Units      408,000</u>

EWIP    12000 units

<u>Transferred To FG    396,000</u>

<u>Total Units                  408,000</u>

3. CONCEPTUAL CONNECTION

Given

8 ounces = 100 Tablets contained in  1 bottle

408000 ounces = 408000/8  =  51000  bottles of 100 tablets each.

Total Tablets = 51000*100= 5100,000 tablets

<u>Units Transferred to Finished Goods</u> 396000 ounces  which is equal to 396000/8=  49500 bottles or 4,950,000 tablets.

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Answer:

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c. Net Realizable Value of Accounts Receivable on December 31:

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Unpaid balance for the year       $229,500      $229,500

Allowance for doubtful accounts    (18,900)          (14,820)

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Explanation:

a) Data and Calculations:

Beginning balances:

Accounts receivable = $105,000

Allowance for Doubtful Accounts = $1,950

Sales in 2017 = $787,500

Credit Sales = $630,000 (80% of $787,500)

Total collections on account = $502,500

Uncollectibles written off =   $3,000

Unpaid balance for the year = $229,500 ($105,000 + $124,500)

Bad Debts Expense = $18,900 ($630,000 * 3%)

Allowance for Uncollectibles = $13,770 ($229,500 * 6%)

a) Allowance for Doubtful Accounts:

Account Titles               Debit        Credit

Beginning balance                        $1,950

Accounts receivable  $3,000

Bad Debts Expense                      18,900

Balance                       17,850

b) Allowance for Doubtful Accounts:

Account Titles               Debit        Credit

Beginning balance                        $1,950

Accounts receivable  $3,000

Bad Debts Expense                      14,820

Balance                       13,770

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2 years ago
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