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____ [38]
3 years ago
15

Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for

distribution to its retail sales department. Direct materials are added at the initiation of the cycle. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some fillets are spoiled due to nondetectible defects. Inspection occurs when units are 100% completed. Spoiled fillets generally constitute 3.5% of the good fillets.
Data for April 2013 are as follows:

WIP, beginning inventory 4/1/2013 40,000 fillets
Direct materials (100% complete)
Conversion costs (50% complete)
Started during April 75,000 fillets
Completed and transferred out 4/31/2013 100,000 fillets
WIP, ending inventory 431/2013 8,000 fillets
Direct materials (100% complete)
Conversion costs (20% complete)
Costs for April:
WIP, beginning Inventory:
Direct materials $55,000
Conversion costs 40,000
Direct materials added 145,100
Conversion costs added 188,065

Required:
a) What is the number of total spoiled units? Normal spoilage totals? Abnormal spoilage totals?
b) Compute the equivalent units for both direct materials and conversion costs using the weigh average method of process costing? What is the total cost per equivalent unit? Show computations.
c) How much costs are assigned to cost of goods manufactured and cost of ending inventory of work in process? Show computations.

Business
1 answer:
Bumek [7]3 years ago
8 0

Answer:

Total spoiled units = 7000

Normal spoilage total = 3500

Abnormal spoilage total = 3500

Total cost per equivalent unit = $3.80

Cost of goods manufactured = $224,000

Ending WIP = $201,165

Explanation:

Kindly check attached pictures

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the firm's cost of equity is 17.808%

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Cost of Equity = Risk Free Rate + Company`s Beta × Expected Return on Market Portfolio

                       = 2.8%+1.34×11.2%

                       = 17.808%

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: When you go looking for a job after graduation, what sources do you expect to use? Why?
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3 years ago
Gundy Company expects to produce 1,213,200 units of Product XX in 2020. Monthly production is expected to range from 80,000 to 1
fiasKO [112]

Answer:

Gundy Company

Flexible Budget Report for March 2020:

                                      Actual Budget   Flexible Budget   Variance

Direct materials                 $515,000        $485,000           $30,000  U

Direct labor                         670,000           679,000               9,000  F

Variable overhead           1,073,000         1,067,000               6,000  U

Actual fixed costs              679,000           679,000                       0  None

Total costs incurred    $2,937,000       $2,910,000           $27,000  U

Explanation:

a) Data and Calculations:

Expected production of Product XX in 2020 = 1,213,200 units

Monthly production range = 80,000 to 114,000 units

Budgeted variable manufacturing costs per unit are:

Direct materials      $5

Direct labor             $7

Overhead              $11

Total variable       $23

Fixed manufacturing costs per unit:

Depreciation are   $6

Supervision are     $1

Total fixed costs   $7

Total costs =       $30

March 2020 costs incurred for 97,000 units:

Direct materials        $515,000

Direct labor              $670,000

Variable overhead $1,073,000

Actual fixed costs      679,000

Total costs incurred $2,937,000

Flexible Budget Report for March 2020:

                                      Actual Budget   Flexible Budget   Variance

Direct materials                 $515,000        $485,000           $30,000  U

Direct labor                         670,000           679,000               9,000  F

Variable overhead           1,073,000         1,067,000               6,000  U

Actual fixed costs              679,000           679,000                       0  None

Total costs incurred    $2,937,000       $2,910,000           $27,000  U

4 0
3 years ago
You purchased 1,350 shares of Barrett Golf Corp. stock at a price of $36.23 per share. While you owned the stock, you received d
enot [183]

Answer:

$6210.00

Explanation:

The computation of total dollar return on the investment is shown below:-

Total Return on Shares = (Dividend + (Sale price - Purchase price)) × Number of Shares

=  ($0.65 + $40.18 - $36.23) × 1,350

= $4.6 × 1,350

= $6210.00

Therefore for computing the total return on shares we simply applied the above formula.

4 0
3 years ago
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