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____ [38]
2 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]2 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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In Crane Company, land decreased $154000 because of a cash sale for $154000, the equipment account increased $55000 as a result
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Option (B) The net cash provided by investing activities is $99000 is correct.

<h3>What is net cash?</h3>
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Steve owns a bike store. His total costs are $1.2 million per year, his variable costs are $750,000, and his fixed costs are $45
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On January 1, Year 1, Stratton Company borrowed $100,000 on a 10-year, 7% installment note payable. The terms of the note requir
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Answer:

1. Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238.

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