Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

The following information is accessible for the Department of Steins for the month of a July:

Units Costs

Work in process, July 1

(70% complete for conversion costs)                   5,000
Direct materials                                               $6,000
Direct labour                                                    3,000
Manufacturing overhead                                     4,000
Total work in process, July 1                            $13,000
Started in production during July                        20,000

Costs added:

Direct materials                                             $18,000
Direct labor                                                     8,000
Manufacturing overhead                                   10,000
Total costs added during July                          $36,000

Work in process, July 31

(80% complete for conversion costs)                  2,000

Materials are added at the beginning of process.

Required:

1. What would be equivalent units of production for materials using the Weighted Average Method?

2. What would be equivalent units of production for conversion costs by using the Weighted Average Method?

3. What would be cost per equivalent unit of production for materials by using the Weighted Average Method?

4. What would be cost per equivalent unit of production for conversion costs by using the Weighted Average Method?

5. What would be cost of goods transferred out by using the Weighted Average Method?

6. What would be cost of ending work in process by using the Weighted Average Method?

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93788

Have any Question? 


Related Questions in Financial Accounting

Butcher co sold 10000 toys in year4 for 20 each the company

Butcher Co. sold 10,000 toys in Year4 for $20 each. The company expects that 5% of the toys will be returned under warranty for a refund of the sales price in the 2-year warranty period. There were $6,000 of warranty obl ...

Horizontal analysis is a technique for evaluating a series

Horizontal analysis is a technique for evaluating a series of financial statement data over a period of time: a) that has been arranged from the highest number to the lowest number b) to determine the amount and/or perce ...

Sales increasemaggies muffins inc generated 4000000 in

Sales Increase Maggie's Muffins, Inc., generated $4,000,000 in sales during 2016, and its year-end total assets were $2,400,000. Also, at year-end 2016, current liabilities were $1,000,000, consisting of $300,000 of note ...

In every audit engagement the auditors should identify

In every audit engagement, the auditors should identify fraud risks that may require an audit response. Described below is a circumstance or factor that may create an increased risk of material misstatement of financial ...

On september 1 2014 sands company sold at 104 plus accrued

On September 1, 2014, Sands Company sold at 104 (plus accrued interest) 3,480 of its 9%, 10-year, $1,000 face value, nonconvertible bonds with detachable stock warrants. Each bond carried two detachable warrants. Each wa ...

Lindon company is the exclusive distributor for an

Lindon Company is the exclusive distributor for an automotive product that sells for $33.00 per unit and has a CM ratio of 30%. The company’s fixed expenses are $198,990 per year. The company plans to sell 9,200 units th ...

Dollar savers corporation perates general merchandise

Dollar Savers Corporation perates general merchandise stores that feature quality merchandise at low prices. All stores are located in the United States, predominantly in small towns in 24 midwestern and southeastern sta ...

Which of the following cost items should be classified as a

Which of the following cost items should be classified as a prevention cost on a cost of quality report? A. Warranty expenses on defective products. B. Technical support provided to suppliers C. Supervision of quality in ...

In a principalndashagent relationship explain why an agency

In a principal–agent relationship, explain why an agency would be irrevocable as in an agency coupled with an interest. Then explain the difference between an agency coupled with an interest and a wrongful termination of ...

Time value of money conceptthe following situations involve

Time Value of Money Concept The following situations involve the application of the time value of money concept. Use the appropriate present or future value table that may be found by clicking on the Present & Future Val ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate