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
KIM [24]
3 years ago
14

Sheffield Company has the following production data for March: no beginning work in process, units started and completed 30,500,

and ending work in process 5,400 units that are 100% complete for materials and 40% complete for conversion costs. Sheffield uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $13, determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are $675,880.
Business
1 answer:
Natasha2012 [34]3 years ago
5 0

Answer:

Total Costs   $ 675,880

Explanation:

Costs EWIP

Ending work in process 5,400 units

Materials = 5,400* $ 7 = $ 37800

Conversion = 5400 * 40 % * $ 13= $ 28,080

We multiply the unit costs to the the equivalent units to get the costs of ending work in process.

Cost Units Completed

Units Completed 30,500

Materials = 30,500* $7=  $ 213,500

Conversion = 30,500* $ 13 =  $ 396500

Similarly we multiply the unit costs to the the completed units to get the costs.

                                               Materials            Conversion

EWIP                                         $ 37800           $ 28,080

<u>Units Completed                     $ 213,500           $ 396500        </u>

<u>Total                                       $  251,300             $ 424 580       </u>

<u />

<u>Total </u>

Materials $215300

<u>Conversion $ 424580</u>

<u>Total Costs   $ 675,880</u>

Now we add both costs to get the total costs which are equal to the given costs.

You might be interested in
If sales volume increases and all other factors remain constant, then the:______.
Montano1993 [528]

If sales volume increases and all other factors remain constant, then the Margin of safety will increase

Explanation:

The margin for safety (MOS) is described as an overall excess of current or expected revenue, expressed either in terms of currency or in units, or as a percentage of total revenues.

One of the main ways to increase the safety margin is through increasing the gross value per unit (if business conditions are favourable) and by reducing the variable cost per unit of the good. This can be accomplished by rising selling costs.

6 0
3 years ago
Wiley's Wire Products is considering a project that has the following cash flow and WACC data. What is the project's MIRR? Note
madreJ [45]

Answer:

e. 13.50%

Explanation:

WACC                11.00%

Year                        0              1                  2                   3  

Cash flows          $800        $350           $350          $350

Compounded-

values, FVs        $431.24     $388.50     $350.00

TV = Sum of compounded inflows: $1,169.74

MIRR = 13.50% Found as discount rate that equates PV of TV to cost, discounted back 3 years @ WACCMIRR= 13.50%.

4 0
3 years ago
Abraham is wanting to move out of his parents house, and must create a budget to see if he can afford the change in expenses. He
olchik [2.2K]
What's the question with the statement?
4 0
3 years ago
_____________ is the act of obtaining a desired object from someone by offering something in return.
Vaselesa [24]

Exchange

<span>Exchange is simply the act of the of giving and receiving between two individuals or two groups. A trade is a typical example of an exchange. For instance, if a farmer gives a fixed number of eggs to another farmer for a fixed quantity of cow’s milk, this is an exchange.  Similarly, if a house guest offers to cook and clean in return for free accommodation, this is an exchange. </span>

8 0
3 years ago
What time does usps stop delivering mail?
alexira [117]
Normally 5:00 pm sometimes they run late though
5 0
3 years ago
Other questions:
  • The Playa Company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). R
    11·1 answer
  • Expando, Inc., is considering the possibility of building an additional factory that would produce a new addition to their produ
    13·2 answers
  • What would explain the rise of the almond industry in California?
    8·1 answer
  • At a price of $15 each, marta buys 4 books per month. when the price increases to $20, marta buys 3 books per month. luz says th
    5·1 answer
  • In the 21st century, we define justice as:
    14·1 answer
  • Leno Company sells goods to the Fallon Company for​ $10,000. It offers credit terms of​ 2/10, n/30. If Fallon Company pays the i
    6·1 answer
  • June 4 Deere Company purchased $3,500 worth of merchandise, terms n/30 from Gilbert Company. The cost of the merchandise was $2,
    6·1 answer
  • Rather than being just a random activity, good marketing requires _____ in determining appropriate actions to produce sound deci
    10·1 answer
  • A company has budgeted fixed overhead of $1.00 per hour at expected capacity of 5,000 units which has a standard quantity of 2 h
    12·1 answer
  • Four Seasons Industries has established direct labor performance standards for its maintenance and repair shop. However, some of
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!