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PA12. LO 5.4Complete this production cost report:

Lubov Fominskaja [6]

Using weighted average method

Statement of equivalent units

Material Conversion

Units Units

Units transferred out 70,000 70,000

Add: Closing work-in-progress 25,000 6,250

Average divisor  95,000  76,250

Computation of cost per unit

Material Conversion

$ $

Cost of beginning work-in-progress 3,500 16,000

Cost added 25,000 45,000

Total cost  28,500  61,000

Material cost per unit = $28,500

95,000 units

= $0.30 per unit

Conversion cost per unit = $61,000

76,250 units

= $0.80 per unit

Value of units transferred out

Material = 70,000 x $0.30 = $21,000

Conversion = 70,000 x $0.80 = $56,000

Value of closing work-in-progress

Material = 25,000 x $0.30 = $7,500

Conversion = 6,250 x $0.80 = $5,000

Explanation:

In this case, we will obtain the average divisor by adding the ending work-in-progress to the units transferred out. Then, we will determine the total cost of material and conversion ,which is the aggregate of cost of opening work-in -progress and cost added during the year. We also need to obtain the unit cost of material and conversion, which is total cost of material and conversion divided by the average divisor.

Finally, we will value the units transferred out and ending work-in-progress at unit cost of material and conversion.

8 0

2 years ago

What is an easy way to convert an hourly wage into an approximate full-time annual wage?

polet [3.4K]

Convert Hours per shift into total days worked for a week then convert it into total 365 - Days working + Hourly Pay

8 0

3 years ago

Most companies have the need for a _________ department that can quickly repair and troubleshoot systems, as well as provide tec

iragen [17]

Answer:

IT Department

Explanation:

Most companies have the need for an IT department that can quickly repair and troubleshoot systems, as well as provide technical support to employees.

An T Department takes care of all the technical streams running throughout the office. f any error or shortcoming occurs, the IT department makes sure they get rid of the bug that is causing the glitch.

They help the employees and provide them with technical support, since now a days, companies are 50% based on technology and any trouble can cause harm to the organization.

4 0

3 years ago

Which one of the following is NOT a real option? The option to buy shares of stock if its price is expected to increase. The opt

puteri [66]

Answer:

The answer is: The option to buy shares of stock if its price is expected to increase.

Explanation:

A "real option" in management is: a choice managers can take concerning business investment opportunities. Real options usually involve tangible assets (machinery, buildings, inventory, land, etc.) but not financial instruments or stocks.

So the buying or selling of stocks aren´t considered real options in business management.

4 0

3 years ago

Custom Cars purchased $39,000 of fixed assets two years ago that are classified as 5-year MACRS property. The MACRS rates are 20

maw [93]

Answer:

The after-tax cash flow (after-tax salvage value) from the sale is $18,941.20

Explanation:

The computation of the after-tax cash flow is shown below:

= Purchase of fixed asset - depreciation charged - sale value of machine + profit on sale - tax rate

= $39,000 - ($39,000 × 20% + 32%) - $19,000 + $280 - 21%

= $39,000 - $20,280 - $19,000 + 280 - $58.80

= $18,720 + $280 - $58.80

= $18,941.20

The $18,720 reflect the Written down value of the fixed asset which come from

= $39,000 - $20,280

3 0

3 years ago