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Anastaziya [24]
3 years ago
15

In the first quarter of operation, the Blending Department of ChemUSA produced 50,000 barrels of Compound X and left 20,000 barr

els in ending work-in-process inventory which was, on average, 55 percent completed. A total of $231,800 was incurred in that period. There was no beginning work-in-process inventory. Required: 1. Determine the amount of Compound X started in the first quarter. 2. Compute the cost of Compound X transferred to finished goods and the amount of work-in-process inventory as of the end of the first quarter.
Business
1 answer:
Afina-wow [57]3 years ago
7 0

Answer:

1. Compound X started in first quarter = 50,000 Barrels + 20,000 Barrels

Compound X started in first quarter = 70,000 Barrels.

2. Finished goods unit = 50,000

Finished goods completed % = 100%

Finished goods equivalent Units = 50,000 * 100% = 50,000

Work in process unit = 20,000

Work in process completed % = 55%

Work in process equivalent Units = 20,000*55% = 11,000

Total Equivalent Unit = 50,000 + 11,000 = 61,000

Cost per equivalent unit = $231800/61000 = $3.80

Total cost = [Finished goods equivalent Units*Cost per equivalent unit] + [Work in process equivalent Units*Cost per equivalent unit]

Total cost = 50,000*$3.80 + 11,000*$3.80

Total cost = $190,000 + $41,800

Total cost = $231,800

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4 0
3 years ago
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4 0
3 years ago
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3 0
3 years ago
DeWitt Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units January 10
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Answer:

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Production Units     10,440          8,240        5,190      4,120

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requirements        31,320        24,720       15,570   12,360

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                                   January      February     March       April

Ending inventory          1,648            1,038           824

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Purchases (pounds)  21,820         23,072       14,532       11,536

4 0
3 years ago
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