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3 years ago

Costs from Beginning Inventory Costs from Current Period

Business

1 answer:

Alex3 years ago

5 0

Answer:

$30.59

Explanation:

<em>Note that the FIFO method is used for this question</em>

Equivalent Units

Materials = 5,200 x 100 % + 300 x 100 % = 5,500

Conversion Costs = 400 x 55 % + 5,200 x 100 % + 300 x 35 % = 5,525

Total Costs

Materials = $25,200

Conversion Costs = $143,700

Cost per Equivalent unit

Materials = $25,200/5,500 = $4.58

Conversion Costs = $143,700/5,525 = $26.01

Total Cost = $4.58 + $26.01 = $30.59

<u>Conclusion</u>

The cost of completing a unit during the current period was $30.59

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Ptarmigan Company produces two products. Product A has a contribution margin of $85.80 and requires 11 machine hours. Product B

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Answer:

Product A $7.80

Explanation:

Calculation to Determine the most profitable product assuming the machine hours are the constraint.

PRODUCT A PRODUCT B

Contribution margin per unit $85.80 $107.80

÷Machine hours 11 14

=Contribution margin per bottle neck hour

$7.80 $7.70

Based on the above calculation Product A is the most profitable because product A profit Amount of $7.80 is higher than that of product B.

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3 years ago

Bekah is an adviser for the company Vicoltech, which deals heavily in investments. Bekah also advises several other clients in h

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Explanation:

Here are the options:

a. Indeterminable with current information

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d. Bekah was still exempt from the SEC’s reporting requirements.

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Based on the scenario in the question, Bekah will still be exempt from the SEC’s reporting requirements because in the Dood-Frank Act, it was stated that advisers that are only working in the same state with their clients are exempted from reporting requirements with the Security Exchange Commission.

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3 years ago

Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicat

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Answer:

Given that,

Direct materials = $100,000

Direct labor = $125,000

Applied factory overhead for Department 1 = $150,000

Direct materials = $50,000

Direct labor = $60,000

Applied factory overhead for Department 2 = $70,000

Therefore, the journal entry is as follows:

Work in Process - Department 3 A/c Dr. $555,000

To Work in Process - Department 2 $555,000

(To record the flow of costs into Department 3 during the period)

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4 years ago

Transactions for Buyer and Seller Sievert Co. sold merchandise to Vargas Co. on account, $148,600, terms FOB shipping point, 2/1

g100num [7]

Answer:

Part a

Debit : Accounts Receivable - Vargas Co. $148,600

Debit : Cost of Sales $89,160

Credit : Sales Revenue $148,600

Credit : Merchandise $89,160

Part b

Debit : Freight Expenses $2,100

Credit : Cash $2,100

Part c

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