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
Gnom [1K]
3 years ago
15

The Cutting Department of Sheridan Company has the following production and cost data for July.

Business
1 answer:
alina1380 [7]3 years ago
5 0

Answer:

1.                                                                   Materials       Conversion Costs

Total equivalent units of production        17,200                  15,800  

2. Cost per Equivalent Unit                    $ 4.05                           $ 2.6

Explanation:

Cutting Department

Weighted-Average Method

1. Equivalent Units

Particulars              Units       % of Completion       Equivalent Units

                                     Materials Conversion   Materials Conversion

Transferred Out    13,700     100         100             13,700      13,700

<u>Ending Inventory     3500      100          60             3500        2100    </u>

<u>Total Equivalent Units                                             17,200      15,800  </u>

<em>The Ending Inventory  units are 3500 which are not yet complete. </em>

                                                                   Materials       Conversion Costs

Total equivalent units of production        17,200                  15,800  

2. Cost Per Equivalent Units

                                                    Materials         Conversion

Cost Added                               69,660                18,480 + 22,600

                             

Total Costs                                69,660                  41,080

Equivalent Units                       <u> 17,200                    15,800 </u>

Cost per Equivalent Unit             69,660 / 17,200         41,080/ 15,800  

                                                    $ 4.05                           $ 2.6

Cost of Ending Work In Process  $ 19635

Materials = 3500 * $ 4.05= $ 14175

Conversion = 2100 * $ 2.6=  $ 5460

We multiply the equivalent number of units with the cost per unit to find the cost.

Cost Of Units Transferred Out = $ 91,105

Materials = 13,700 * $ 4.05= $ 55,485

Conversion = 13,700 * $ 2.6 =  $ 35620

B. A Cost Reconciliation Report

                                    Materials              Conversion

Ending WIP                     $ 14175                  $ 5460

<u>Transferred Out             $ 55,485              $ 35620</u>

<u />

<u>Total                                 $ 69660                 41080   </u>

These calculated costs reconcile with the costs given in the above data.

                                                  Materials              Conversion

<u>Cost Added                               69,660                18,480 + 22,600</u>

<u>Total Costs                                69,660                  41,080</u>

<u></u>

These costs reconcile with the given costs.

You might be interested in
What is the key difference between command and market economies?
VladimirAG [237]

Answer:

Key Takeaways

Explanation:

7 0
3 years ago
How is productivity calculated
Alenkinab [10]

Answer:

productivity is calculated by using formula

Explanation:

formula = total output/ total input

3 0
3 years ago
Read 2 more answers
Bruce is the owner of Orion Inc., a manufacturer of electronic gadgets. He wants to hire the most honest job applicants as marke
Evgesh-ka [11]

In the context of employee selection, it can be inferred that Bruce is likely to employ an integrity test .

<u>Explanation: </u>

The integrity test is a particular kind of psychological test intended to assess whether the individual is trustworthy, truthful and reliable. The lack of integrity is related to fraud, crime, vandalism, disciplinary issues, and absences.

Two main categories of honesty assessments are covert (character-based) tests that assess features relevant to obedience to rules; and transparent measures that analyze a candidate's attitudes to different CWBs explicitly.

Integrity tests can sometimes be reasonable job performance measurements all in all. This isn't shocking, because honesty is strongly linked to perception, which is a strong indicator of overall employment success.

When tandem with cognitive skills tests, credibility assessments may provide considerable value to a selection process as others ' personality characteristics.

6 0
3 years ago
Jack recently took out a loan from Diane at an interest rate of 4 percent. Diane expected this year’s inflation rate to be 1 per
defon

The complete question has been added with an image for better understanding of the concept. The beneficiaries of the inflation and interest rates will be,

  1. When inflation is 1 percent, Diane will benefit more than Jack;
  2. When inflation is 0 percent; Diane will benefit more than Jack;
  3. When inflation is 4 percent; Jack will benefit more than Diane;
  4. When inflation is -2 percent; Diane will benefit more than Jack.

<h3>What is inflation?</h3>

A given increase in rates or prices of any commodity, including monies, over a particular financial period is known as inflation.

The rates and beneficiaries due to the unexpected change in inflation for the above situation is given attached in the image in the form of a table.

Hence, the significance of inflation is as mentioned.

Learn more about inflation here:

brainly.com/question/15692461

#SPJ1

5 0
2 years ago
"Value added" is defined as: a. the price of the product multiplied by the quantity produced. b. total sales revenue divided by
FromTheMoon [43]

Answer:

d. the value of total product minus raw materials costs.

Explanation:

The price of the product multiplied by the quantity produced is the revenue.

Total sales revenue divided by the quantity produced gives the price of the product.

I hope my answer helps you

6 0
3 years ago
Other questions:
  • "What is Al’s total revenue? 3 pts) B. What are Al’s explicit costs? In numbers (3 pts) C. What is his accounting profit? In Num
    10·1 answer
  • "press firmly to learn what your breasts feel like. a firm ridge in the lower curve of each breast is normal." this step for bse
    14·1 answer
  • Dan buys a property for $260,000. he is offered a 30-year loan by the bank, at an interest rate of 6% per year. what is the annu
    12·1 answer
  • Suppose a competitive market has a horizontal long-run supply curve and is in long-run equilibrium. If demand decreases, we can
    5·1 answer
  • Under which circumstance would someone need disability insurance?
    12·2 answers
  • As a result of the seizing up of the capital markets in 2008, and the shutting down of the CMBS market specifically, life insura
    8·1 answer
  • One of the advantages of the Weighted Point Evaluation Method is that it: A. Keeps the number of suppliers in a Supply Chain low
    10·1 answer
  • During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts
    8·1 answer
  • Fact Pattern 28-2 Adam, a director of Beta Computer Company, learns that a Beta engineer has developed a new, significantly fast
    13·1 answer
  • understanding customers better has helped amazon and others become more successful. the understanding comes primarily from:
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!