All categories

3 years ago

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

Ending Inventory 3500 100 60 3500 2100

Total Equivalent Units 17,200 15,800

The Ending Inventory units are 3500 which are not yet complete.

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 17,200 15,800

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

Transferred Out $ 55,485 $ 35620

Total $ 69660 41080

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

Materials Conversion

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

Total Costs 69,660 41,080

These costs reconcile with the given costs.

You might be interested in

Vaughn Manufacturing has fixed costs of $30000 per year. Its warehouse sells wine with variable costs of 90% of its unit selling

oksian1 [2.3K]

Answer:

$300,000

Explanation:

Calculation for How much in sales does Vaughn need to break even per year

Using this formula

Sales needed to break even=Fixed cost/(1-Unit selling price Variable costs)

Let plug in the formula

Sales needed to break even=$30,000 / (1 -.9)

Sales needed to break even=$30,000 / (0.1)

Sales needed to break even=$300,000

Therefore How much in sales does Vaughn need to break even per year will be $300,000

8 0

3 years ago

When the trial balance extracted from the books of Keman Enterprises at the year-end failed to balance, the difference was place

Ugo [173]

Answer:

The answer is option (A) Dr 4,800

Explanation:

Solution

From the given question, the prepaid insurance normally is having a debit balance.

When it is brought forward to next year, this GH₵ 2,400 has to be cancelled once by debiting to suspense account.

Also. it want 2400 to credit the balance in prepaid insurance ledger, it need or require to be credited and debited to suspense account with 2400 balance.

Now, this combined debit to suspense account will result to 4800 (2400 +2400).

8 0

3 years ago

Individuals who give up looking for work because they don't feel that there are good prospects of finding a job are known as:

lord [1]

Individuals who give up looking for work because they don't feel that there are good prospects of finding a job are known as discouraged workers.
Correct answer: D
These type of workers have not found no suitable employment options in the past so they believe that there aren't any jobs for them and they are discouraged to search for a job.

8 0

3 years ago

In order to produce 100 pairs of oven gloves, Marcia incurs an average total cost of $2.50 per pair. Marcia’s marginal cost is c

anygoal [31]

Answer:

option (d) $200.00

Explanation:

Average total cost for 100 pairs = $2.50

Marginal cost for every pair = $10.00

Now,

Total cost = Fixed cost + Variable cost

Fixed cost = Total cost - variable cost

Fixed cost = (Average total cost × 100) - (Marginal cost × 100)

= ($2.5 × 100) - ($1 × 100)

= $250 - $100

= $150

thus,

Total cost to produce 50 pairs of oven gloves

= fixed cost + variable cost

= $150 + (50 × $1)

= $150 + $50

= $200

Hence,

option (d) $200.00

6 0

3 years ago

Three types of business organizations) Limited partnerships have two classes of partners. The _____ limited general partner act

tia_tia [17]

Answer:

General; limited; limited.

Explanation:

Limited partnerships have two classes of partners. These two (2) classes are;

1. General partner: it is a type of partnership in which two or more people come together and have an agreement to do business by sharing profits, assets, debts or financial and legal liabilities.

2. Limited partner: it is a type of partnership in which people come together and have an agreement to do business but the involved partners only contribute financially and solely responsible to the amount of money they invested.

Hence, the general partner actually runs the business and faces unlimited liability for the firm's debt, while the limited partner is only liable up to the amount the limited partner invested.

8 0

3 years ago