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
Natali5045456 [20]
3 years ago
14

Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Depar

tment completed its processing of 25,500 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $622,110 in total. The ending work in process inventory in January consisted of 2,100 units, which were 60% complete with respect to materials and 40% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Labor Overhead Cost per equivalent unit $ 13.70 $ 3.20 $ 6.50 Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January. 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total for January. 4. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning work in process inventory and costs added during the month.)
Business
1 answer:
UkoKoshka [18]3 years ago
7 0

Answer:

EU materials     26,760

EU conversion 26,340

WIP ending 25,410

transferred out 596,700

}

Cost to be accounted for: 622,110

cost accounted for:

ending WIP inventory         25,410

finished goods inventory 596,700

Explanation:

WA Equivalent units:

completed units 55,500

ending WIP inventory  2,100 x 60% 1,260 materials

                                     2,100 x 40%  840 conversion

materials:     25,500 + 1,260 = 56,760

conversion:  25,500 + 840 = 56,340

Ending WIP valuation:

Materials: 1260 x 13.7  = 17,262  

Labor         840 x  3.2  =  2,688

Overhead  840 x  6.5  =  5,460

       Total ending WIP    25,410

Transferred-out:

25,500 x (13.7 + 3.2 + 6.5) =

25,500 x  23.4 = 596,700

You might be interested in
Frederick Group uses ABC to account for its chrome wheel manufacturing process. Company managers have identified four manufactur
adoni [48]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the activities allocation rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Material handeling= 8,700/2,900= $3 per part

Machine setup= 4,650/15= $310 per setup

Insertion of parts= 49,300/2,900= $17 per part

Finishing= 75,600/1,800= $42 per direct labor hour

<u>Now, we can allocate overhead to Job 420:</u>

<u />

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Material handeling= 3*150= $450

Machine setup= 310*4= $1,240

Insertion of parts= 17*150= $2,550

Finishing= 42*120= $5,040

Total allocated costs= $9,280

<u>Finally, allocated costs to Job 510:</u>

Material handeling= 3*500= $1,500

Machine setup= 310*5= $1,550

Insertion of parts= 17*500= $8,500

Finishing= 42*320= $13,440

Total allocated costs= $24,990

6 0
2 years ago
How would you sell me a computer? What would you say
jok3333 [9.3K]

Answer:

I will sell u the computer by saying that is one of the best computers in my day.

8 0
3 years ago
Cleftell Inc., a coal mining company in the United States, is the only supplier of coal in its area. The company is backed by th
Katarina [22]

Answer:

Oligopoly

Explanation:

Oligopoly - it is referred to as a marketing structure in which there are few suppliers in the market and every supplier has its own unique function and unique control over the market.

In the given question, cleftell Inc is also one of that firm which has its own control over the market that is why government back them so that they will supply the coal in discounted rate as before

3 0
3 years ago
Payday loans could be considered
Molodets [167]
C. subprime lending

Its not something you want to do all of the time
7 0
3 years ago
Several artists in Charleston, South Carolina, show and sell their work in an art gallery downtown. The gallery is owned by an a
Elena L [17]

Answer:

Wholesaler

Explanation:

The distribution channel is defined or referred to as the overall or whole flow of the information as well as the goods and services from the original manufacturer to the final consumers. And the wholesaler is the one which is known as the distributor, acquire the goods from the manufacturer holds them in the distribution centre and then sells it to the retailers.

So, in this case, in the terms of channel of marketing, the gallery will be referred to as the wholesaler.

4 0
3 years ago
Other questions:
  • A perfectly competitive firm initially is earning a normal profit. Then, a decrease in demand for the firm's product occurs. Of
    12·1 answer
  • Suppose that there are two employers in Tinytown. CareCo offers a generous health insurance package to all employees, while Apat
    9·1 answer
  • Which of the following is not one of the six key decisions in project management?
    5·1 answer
  • In russia what preceded the communist takeover of the government?
    15·1 answer
  • What products do you think will increase in demand because of the 2020 election?
    6·1 answer
  • What term describes the execution of business transactions in a paperless environment, primarily through the Internet
    5·1 answer
  • In Q1 2018, CNA Companies reports the following transactions:
    8·1 answer
  • By convention, a swap buyer on an interest rate swap agrees to act as the dealer in the swap agreement. hold both principal and
    12·1 answer
  • Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company grante
    13·1 answer
  • . In January, Vorst Co. purchased a mineral mine for $2,640,000 with an estimated 1,200,000 of removable ore. After it has extra
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!