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Rainbow [258]
3 years ago
6

Wasson Company reported the following year-end information: Beginning work in process inventory $ 35,000 Beginning raw materials

inventory 18,000 Ending work in process inventory 38,000 Ending raw materials inventory 15,000 Raw materials purchased 560,000 Direct labor 210,000 Manufacturing overhead 120,000 How much is Wasson’s total cost of work in process for the year?
Business
1 answer:
Dennis_Churaev [7]3 years ago
4 0

Answer:

cost of work in process= $890,000

Explanation:

Giving the following information:

Beginning work in process inventory $ 35,000

Beginning raw materials inventory 18,000

Ending work in process inventory 38,000

Ending raw materials inventory 15,000

Raw materials purchased 560,000

Direct labor 210,000

Manufacturing overhead 120,000

To calculate the total cost of work in process, we need to use the following formula:

cost of work in process= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP

Direct materials used= beginning inventory + purchases - ending inventory

Direct materials used= 18,000 + 560,000 - 15,000= 563,000

cost of work in process= 35,000 + 563,000 + 210,000 + 120,000 - 38,000= 890,000

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A company produces a single product. Variable production costs are $12.90 per unit and variable selling and administrative expen
Scrat [10]

Answer:

$10,965

Explanation:

Computation for the dollar value of the ending inventory under variable costing

First step is to find the Units in ending inventory

Using this formula

Units in ending inventory = Units in beginning inventory + Units produced−Units sold

Let plug in the formula

Units in ending inventory= 0 units + 4,900 units−4,050 units

Units in ending inventory = 850 units

Last step is to find the Value of ending inventory under variable costing

Using this formula

Value of ending inventory under variable costing = Unit in ending inventory × Variable production cost

Let plug in the formula

Value of ending inventory under variable costing= 850 units × $12.90 per unit

Value of ending inventory under variable costing = $10,965

Therefore the dollar value of the ending inventory under variable costing would be $10,965

6 0
3 years ago
Units: Beginning Inventory: 34,000 units, 55% complete as to conversion. Units started and completed: 128,000. Units completed a
liq [111]

Answer:

the cost per equivalent unit of conversion is $3.49

Explanation:

The computation of the cost per equivalent unit of conversion is as follows;

= Total conversion cost ÷ equivalent units

where

total conversion cost is $608,150

And, the equivalent units is

= 162,000 units × 100% + 34,500 units × 35%

= 162,000 units + 12,075 units

= 174,075 units

Now the cost per equivalent unit of conversion is

= $608,150 ÷ 174,075 units

= $3.49 per unit

Hence, the cost per equivalent unit of conversion is $3.49

This is the answer but the same is not provided in the given options

3 0
3 years ago
You want to accumulate $1 million by your retirement date, which is 25 years from now. You will make 25 deposits in your bank, w
klemol [59]

Answer: $34,696

Explanation: $1000,000/25=$40,000 as deposit to be made 25 times, but out of this amount 8% interest will be subtracted which gives 8/100×40,000=$3200.

Hence annual deposit will be $40000-$3200=$36800.

But annual raise of 3% should be subtracted as well making deposit to be 3/100×36800=$1104.

Substracting we have $36800-$1104=$35696.

Hence i must deposit $35696 first to meet this goal.

7 0
3 years ago
When Nancy's aunt left for her annual Christmas vacation, she left Nancy in charge of her coffee shop. During this time, there w
lesantik [10]

Answer:

inherent agency power

Explanation:

pls mark brainliest

3 0
3 years ago
Which of the following statements is CORRECT? a. More of Project A's cash flows occur in the later years. b. We must have inform
Lelechka [254]

Answer: a. More of Project A's cash flows occur in the later years.

Explanation:

When a project has its cashflows occurring in later years, the NPV will be less because the discount rate would have a greater period to discount it in as opposed to cashflows that occur more recently which would receive less discounting from the discount rate.

As a result of Project A having more distant cashflows, the discount rate discounted its cash flows more which is why higher rates led to its NPV being zero because those higher rates got to discount it over a longer period.

4 0
2 years ago
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