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4 years ago

Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows:

Business

1 answer:

gregori [183]3 years ago

7 0

Answer:

Production cost worksheet

Flow of production Physical unit Direct materials Conversion

Beginning work in process 10,000

Starting during period 20,000

To account for 30,000

Unit Completed 25,000 25,000 25,000

Ending WIP 5,000 5,000 3,000

Accounted For 30,000 30,000 28,000

Cost Total Direct materials Conversion

Beginning WIP 8,600 6,000 2,600

Cost added during period 47,000 30,000 17,000

Total cost to account for A 55,600 36,000 19,600

Equivalent units 30,000 28,000

Equivalent units cost A/B 1.9 1.2 0.7

Assignment of cost

Cost of transferred out 47,500 (25,000 *1/9)

Ending wip:

Direct materials 6,000 (5,000*1/2)

Conversion 2,100(3,000*1/2)

Cost accounted for 55,600

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Answer:

A) 40

Explanation:

The chart is not very clear, but the information included is:

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it takes two hours to produce one pair of socks

If the total number of labor hours is 80, then the maximum number of socks produced will = 80 hours / 2 hours per pair of socks = 40 pairs of socks

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3 years ago

A physical count of Ayayai Company’s inventory at year-end determined that inventory on hand had a value of $1,628,000. Upon fur

fgiga [73]

Answer:

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amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022= $1,628,000-$51,900-$55,500$-$16,300

amount that should be reported for inventory on Ayayai Company’s balance sheet at December 31, 2022=$1,504,800

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4 years ago

On July 31, the bookkeeping account Supplies Inventory shows a debit balance of $1,000. A physical inventory taken on that date

Tanya [424]

Answer:

$200

Explanation:

When Supplies inventory are purchased, a debit is posted to Supplies inventory and a credit to cash account or accounts payable.

As the inventories are used, debit Supplies expense and credit Supplies inventory account.

Given that $1,000 was the debit in the books and $800 per count, it means the books balance needs to be written down to the physical balance. The difference to be posted

= $1,000 - $800

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This will be done by

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Being entries to record inventory used in July

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3 years ago

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Ghella [55]

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To know more about Internal failure costs refer:

brainly.com/question/7348888

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1 year ago