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
inysia [295]
3 years ago
7

At the beginning of the month, the Painting Department of Skye Manufacturing had 20,000 units in inventory, 70% complete as to m

aterials, and 20% complete as to conversion. The cost of the beginning inventory, $28,650, consisted of $22,400 of material costs and $6,250 of conversion costs. During the month the department started 115,000 units and transferred 120,000 units to the next manufacturing department. Costs added in the current month consisted of $229,600 of materials costs and $540,500 of conversion costs. At the end of the month, the department had 15,000 units in inventory, 40% complete as to materials and 10% complete as to conversion. If Skye Manufacturing uses the weighted average method of process costing, compute the costs per equivalent unit of materials and conversion respectively for the Painting Department.
Business
1 answer:
velikii [3]3 years ago
5 0

Answer:

Cost per EUP Materials: $2,00

Cost per EUP Conversion: $4,50

Explanation:

                                              Materials                        Conversion

Beginning WIP Cost              $22,400                             $6,250

Cost added in the period   <u>$229,600                         $540,500</u>

Total Cost of the Units        $252,000                         $546,750

Equivalent Units of Production (EUP): Completed Units + Ending WIP Units

EUP Materials = 120,000 + 15,000 x 40% = 126,000

EUP Conversion = 120,000 + 15,000 x 10% = 121,500

Cost per Equivalent Unit: Cost of Units / EUP  

Cost per EUP Materials: $252,000 / 126,000 = $2,00

Cost per EUP Conversion: $546,750 / 121,500 = $4,50

You might be interested in
During the adjusting process two transactions were missed. The first is for unearned rent revenue of which $450 was earned durin
masya89 [10]

Answer:

3. net income is understated by $175

Explanation:

There were two transactions omitted. The first transaction is unearned rent revenue of which $450 was earned. This earned rent revenue increases income by $450. While the second transaction was accrued interest payable of which $275 is owed. This interest payable increases liabilities by $275.

Therefore, from the above, income or revenue is understated by $450, while expenses is understated by $275.

Therefore, net income is understated by income less expenses, thus 450 - 275 = $175. This also implies that liabilities are overstated by $175.

4 0
3 years ago
Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2021 are as follows:
Lynna [10]

Answer:

Ending inventory : $868

Explanation:

FIFO (First-In-First-Out) is a method of inventory valuation where the inventory that is received first is sold first. In other words, the earliest inventory is used first. This is common for perishable inventory such as fruits and vegetables which if not used fast, will be wasted.

01/01/21 : Beginning Inventory : 200 units x $5 = $1000

01/15/21 : Purchases : 100 units x $5.3 = $530

01/28/21 : Purchases : 100 units x $5.5 = $550

Total units = 200 + 100 + 100 = 400 units

Units sold = Total inventory available for sale - ending inventory

= 400 - 160 = 240 units.

COGS:

Beginning Inventory : 200 units x $5 = $1000

Purchases : 40 units x $5.3 = $212

Cost of goods sold : $1000 + $212 = $1212

Ending inventory:

Purchases : (100 - 40) units x $5.3 = $318

Purchases : 100 units x $5.5 = $550

Ending inventory : $318 + $550 = $868

6 0
3 years ago
Billy isn't sure he'll be able to rise to the challenge of pitching to a very important client at work, but his supervisor selec
lidiya [134]

Answer:

d. blind

Explanation:

The Johari window label is used to provide an explanation of the relationship between employers and employees. It gives an explanation of some psychological issues that inform the behavior of these two groups. The quadrant of the Johari window labeled <em>blind reveals what the employer knows about the employee, but the employee does not know that about himself due mostly to a lack of self-awareness.</em> This is the case between Billy and his employer who knows about his ability to pitch a deal, but which Billy is not so confident about.

The employer could help Billy overcome the problem of lack of self-awareness by encouraging him to reveal information about himself.

4 0
3 years ago
Green Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket. There are 175 shows per year. N
Natasha2012 [34]

Answer:

Explanation:

hope this helps:)

7 0
3 years ago
Abner Corporation makes a product that sells for $200 per unit. The Variable Costs per unit are $120. Fixed Costs total $500,000
weqwewe [10]

Answer:

6,250 units to break even.

Explanation:

Let's call x the number of units needed.

We know the sales price ($200/unit).

We know the cost of production ($120/unit)

And to break even, the Abner Corporation need to cover their fixed costs of $500,000.

That can be modeled like this:

200x - 120x  = 500000 (sales price - cost price to get 500K)

we simplify and solve:

80x = 500000 (making $80 profit for each unit)

x = 6,250 units

Abner Corp needs to sell at 6,250 units to break even.

Since it is selling 7,500 units, they are making a profid.

4 0
3 years ago
Other questions:
  • Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodi
    12·1 answer
  • TwitterMe, Inc., is a new company and currently has negative earnings. The company’s sales are $1,500,000 and there are 135,000
    12·1 answer
  • Write an e-mail to a client describing situations in which the partnership entity form might be more advantageous (or disadvanta
    5·1 answer
  • You just started working for a company, where should you first look to find a confidentiality policy concerning information you
    9·1 answer
  • Crown Company established a petty cash fund of $600 for incidental expenditures on January 2, 2019. At the end of the month, the
    14·1 answer
  • The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands):
    9·1 answer
  • The great baseball player Ty Cobb was known for being very thrifty. Near the end of his life he was interviewed by a reporter wh
    5·1 answer
  • How do working conditions and company's image motivate employees?
    9·1 answer
  • From the following examples, which one correctly defines a leader?
    11·1 answer
  • On January 1, 2008 an asset was acquired for $30,000. Its useful life was expected to be 10 years and the salvage value is expec
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!