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Sliva [168]
3 years ago
7

Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through tw

o processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: All materials are added at the beginning of the process. Beginning work in process had 86,300 units, 30 percent complete with respect to conversion costs. Ending work in process had 19,300 units, 40 percent complete with respect to conversion costs. Started in process, 105,900 units. Required: 1. Prepare a physical flow schedule.
Business
1 answer:
liubo4ka [24]3 years ago
6 0

Answer:

<u>Physical flow schedule</u>

Inputs

Beginning Work in Process                86,300

Add Units Started                              105,900

Total                                                    192,200

Outputs

Units Completed and Transferred   172,900

Units in Ending Work in Process       19,300

Total                                                    192,200

Explanation:

A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.

Units Introduced must always be equal to units outputs in physicals terms.

<em>Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process</em>

                                                        = 86,300 + 105,900 - 19,300

                                                        = 172,900

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Answer:

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Explanation:

Closing Entries

a. Accounts Payable:  No it is not closed to income summary account.

b. Advertising Expense:  Yes it is  closed to income summary account.

c. Cost of Merchandise Sold: Yes it is  closed to income summary account.

d. Dividends : No these are closed To Retained Earnings Accounts.

e. Merchandise Inventory : Yes it is  closed to income summary account

f. Sales Yes it is  closed to income summary account

g. Supplies:  No prepaid supplies are an asset account and it is included balance sheet.

h. Supplies Expense: Yes it is  closed to income summary account

i. Wages Payable: Not closed in the income summary account.

These are liabilities and included in the balance sheet.

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The erosion model explains that an organization's employee who have less or fewer emotional bonds tend to quit the organization because they do not feel or get involved in the organization, or they don't feel any attachment to it.

Here the social influence model states that suppose when two employees are closely related or have good terms, so if one of them quits their work, then the other one is more likely to follow them and leave the organization.

Hence, the erosion model suggests that employees with fewer bonds will be most likely to quit the organization.

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1 year ago
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Answer:

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Make in-house:

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Direct labor 24

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Direct labor 24

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