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Shkiper50 [21]
3 years ago
11

During April, the production department of a process manufacturing system completed a number of units of a product and transferr

ed them to finished goods. Of these transferred units, 80,000 were in process in the production department at the beginning of April and 320,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 102,000 additional units were in process in the production department and were 90% complete with respect to materials and 40% complete with respect to conversion. The production department had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs. Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output.
Business
1 answer:
den301095 [7]3 years ago
6 0

Answer:

Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output.

Cost per equivalent unit

Material    

$2,35  

Conversion  

$1,93  

TOTAL Cost per equivalent unit  

Material  

$968.840  

Conversion  

$697.890  

TOTAL

$1.666.730  

Explanation:

                                                                    Material    Conversion  

Units transferred to the next department    320,000   320,000  

Materials  90%                                                       102,000   91,800  

Conversion Cost 40%                                        102,000    40,800

Equivalents Units Production                         411,800    360,800

Cost of beginning work in process inventory $ 118.472 $ 48.594

Costs added during the period                     $ 850.368 $ 649.296

TOTAL COST                                             $ 968.840 $ 697.890

Equivalents Units Production                      411.800    360.800

Cost per equivalent unit                                  $2,35        $1,93  

Units completed and transferred out:          

Equivalent units of production (a)    411.800   360.800  

Cost per equivalent unit                 $968.840   $697.890                     $1.666.730  

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Thus the cost of acquisition as well as the cost of improvement by the previous owner of a capital asset shall be the cost of acquisition of such asset to the person selling the such capital asset acquired under gift or inheritance and the indexation shall be allowed from the year of acquisition or improvement by the previous owner.

Explanation:

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3 years ago
Garden World uses the retail method to estimate its monthly cost of goods sold and month-end inventory. At May 31, the accountin
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Answer:

The estimated inventory at May 31 is $352,549

Explanation:

In order to calculate the estimated inventory at May 31 we would have to calculate the following formula:

Estimated closing inventory=(resale of goods- sales in may)*(beginning inventory plus purchases/resale of goods

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3 years ago
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What's the question?
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3 years ago
__________ and ________ are stimulus preference assessment methods, while ________ and __________ are reinforcer assessment meth
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Answer:

The correct answer is A. Free-operant, trial-based; concurrent schedules, multiple schedules

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3 years ago
In 20X1, Modern Property Groups collected rent revenue for 20X2 tenant occupancy. For financial reporting, the rent is recorded
vekshin1

Answer:

Debit deferred tax asset for $12,000

Debit income tax expense for $18,000

Credit income tax payable for $30,000

Explanation:

The journal entries will look as follows:

<u>Date     Account Name and Description       Debit ($)      Credit ($)   </u>

20X1     Deferred tax asset (w.1)                        12,000

             Income tax expense (w.3)                    18,000

                Income tax payable (w.2)                                      30,000

<em><u>             (To record income taxes at the end of 20X1.)                             </u></em>

Workings:

w.1: Deferred tax asset = Deferred portion of the rent collected in 20X1 * Tax rate = $40,000 * 12% = $12,000

w.2: Income tax payable = Taxable income * Tax rate = $100,000 * 30% = $30,000

w.3: Income tax expense = Income tax payable - Deferred tax asset = $30,000 - $12,000 = $18,000

7 0
3 years ago
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