It is suggested you use which of the following to learn about the position for which you are being interviewed?

Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that

geniusboy [140]

Answer:

Explanation:

Beginning WIP inventory 74000

Add: Units started during May 390000

Less: Ending inventory 34000

Units completed and transferred 430000

1 Equivalent Units

Whole units Materials Conversion

Beginning WIP inventory 74000 74000 74000

Started & completed 356000 356000 356000

Ending inventory 34000 23800 10200

Units accounted for 464000 453800 440200

Materials Conversion

Equivalent units of production 453800 440200

2

Cost Data: Total Material Conversion

Beginning WIP inventory 142800 98800 44000

Current costs 755960 513830 242130

Total cost to account for 898760 612630 286130

Divided by Equivalent units 453800 440200

Cost per Equivalent unit 2.00 1.35 0.65

Materials Conversion

Cost per Equivalent unit 1.35 0.65

3

Cost Assignment:

Ending Work in process:

Material 32130

Conversion 6630

Total Ending Work in process 38760

4

Cost of units completed and transferred

Material 580500

Conversion 279500

Total 860000

5

Cost to be accounted for:

Beginning WIP inventory 142800

Current costs 755960

Total costs to be accounted for 898760

Cost accounted for as follws:

Cost of units completed and transferred 860000

Cost of ending work in process 38760

Total costs accounted for 898760

6 0

3 years ago

Jubilee's Bakery is budgeting cash for 2017. The cash balance at December 31, 2016, was $6,000. Jubilee's Bakery budgets 2017 ca

marusya05 [52]

Answer: B. There is $19,000 available for additional investments.

Explanation:

Cash Receipts both Estimated and available

= Beginning balance + budget receipts

= 6,000 + 81,000

= $87,000

Cash payments

= 44,000 + 34,000 + 15,000

= $93,000

Additional financing required = Cash receipts - Cash payment - minimum cash balance

= 87,000 - 93,000 - 13,000

= -$19,000

4 0

3 years ago

Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginnin

Veronika [31]

Answer:

Overhead rate= 34.24

Explanation:

Giving the following information:

Labor-hours for the upcoming year at 38,600.

The estimated variable manufacturing overhead was $5.90.

The estimated total fixed manufacturing overhead was $1,093,924.

Overhead rate= Estimated indirect cost/allocation measure

Overhead rate=[(38600*5.90+1093924)]/38600= 34.24

8 0

4 years ago

Bailey Corp. has the following information: Beginning Inventory (Jan 1) Ending Inventory (Dec 31) Raw Materials Inventory $ 25,3

Amanda [17]

Answer:

See below

Explanation:

The cost of goods manufactured is computed as;

Beginning inventory

$25,300

Add ;

Raw materials purchases

$106,100

Cost of goods available for sale

$131,400

Less:

Ending inventory

$39,100

Cost of goods sold

$92,300

Add:

Beginning work in process

$24,100

Less:

Ending work in process

($26,600)

Cost of goods manufactured

$89,800

4 0

3 years ago

If current trends continue, China may be the world's largest economy by 2030. In a concise and well-noted statement, discuss the

Blizzard [7]

Answer:

If by 2030 China became, as current data estimates, the world's largest economy, this would mean a series of global changes in macroeconomic matters: A) for the world trade system, China would become the main exporter given its huge population (estimated at 1.6 billion people) added to its economic capacity, which would flood the world markets with manufactured products in this country, increasing the fiscal surplus and employment for its inhabitants; furthermore, it would relegate many nations to being secondary producers; B) the monetary system would watch the emergence of the Renmimbi as a new reference currency, displacing the dollar and the euro from the center of the scene; C) Commodity prices would be determined according to the consumption and production needs of China, with which the products demanded in this country will have high value.

4 0

4 years ago