Fincher Farms uses process costing to account for the production of canned vegetables. Direct materials are added
Question:
Fincher Farms uses process costing to account for the production of canned vegetables. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning work in process is 30 percent complete; ending work in process is 40 percent complete.
The following is an excerpt from the production report for Fincher Farms:
Required:
Find the missing amounts for letters a-d. You should do them in the order listed. E3-20
Transcribed Image Text:
FINCHER FARMS Process Costing Production Report (Weighted-Average Method) For the month ended January 31, 2013 Physical Units Units to be accounted for Beginning work in process Started into production 40,000 a. Total units 340,000 Equivalent Units Physical Units Direct Materials Conversion Cost Units accounted for Completed and transferred Ending work in process 260,000 260,000 C. d. b. 80,000 340,000 Total units 340,000 292,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
a 300000 340000 4...View the full answer
Answered By
AJIN kuriakose
I have completed B.Tech in Electrical Engineering & Masters in Power & Control From one of the best universities in India. I got the 99.05 percentile in the Gate Electrical Engineering Exam. I can Help students solving assignments in Electrical subjects like Power Electronics, Control system, Analog, Network Theory & Engineering Mathematics. Clear your fundamentals and develop problem-solving skills and analytical skills to crack the exam.
Get guidance and the opportunity to learn from experienced...
I can provide tuition for Electrical engineering subjects (Power Electronics, Digital electronics, Network Theory, Control System & Engineering Mathematics). The toughest subject of Electrical engineering can be made simple in online classes...
I can also solve it.
1 .I can help you with your assignments or exams or quiz or tutoring.
2. Very strict to the deadlines.
Message me for any help in assignments, live sessions. I am here to help students for all assignments, tests and exams and I will make sure you always get _95% In your subject.
Contact me in solution inn for any help in your semester, projects and for many more things . Also feel free to contact me through solution inn and for any advise related to tutoring and how it works here.thank you.
5.00+
5+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Question Posted:
Students also viewed these Managerial Accounting questions
-
Materials are added at the beginning of the production process at Santiago Company, which uses a FIFO process costing system. The following information on the physical flow of units is available for...
-
At mixing department, all materials are added at the beginning of the process. Lahore and overhead (conversion resources) are added evenly throughout the process. The following information pertains...
-
Jenice Company uses FIFO process costing to account for the costs of its single product. Production begins in the fabrication department, where units of direct materials are molded into various...
-
As shown in Fig. 4.60, a horizontal beam is hinged to the wall at point A. The length of the beam is 1 = 2 m and it weighs W = 150 N. Point C is the center of gravity of the beam and it is...
-
To determine the amount of credit for the elderly or the disabled, the appropriate base amount must be adjusted by the effect of two items. What are those two items, and in what way is the base...
-
The management of Tritt Company has asked its accounting department to describe the effect upon the company?s financial position and its income statements of accounting for inventories on the LIFO...
-
A uniform bar of length \(l\) and mass \(m\) is hinged at one end \((x=0)\), supported by a spring at \(x=\frac{2 l}{3}\), and acted upon by a force at \(x=l\), as shown in Fig. 13.32. Derive the...
-
Howe Chemicals Company acquires a delivery truck at a cost of $31,000 on January 1, 2014. The truck is expected to have a salvage value of $4,000 at the end of its 4-year useful life. Compute annual...
-
Home is 20 feet x 30 feet (it has three floors and all three floors are useable) One bedroom (10'x16') designated for Office Expenses per year: Utilities $10,000.00 M&R $2,000 Mortgage Interest...
-
1. For a nonpublic company, which section of the audit report includes a statement that the auditor does not express an opinion on the effectiveness of internal control? a. Basis for Opinion. b....
-
Place the following steps required to prepare a process costing production report into their correct order. List separately any step that should not be included in the process. I. Reconcile the total...
-
Mesa Company produces wooden rocking chairs. The company has two production departments, Cutting and Assembly. The wood is cut and sanded in Cutting and then transferred to Assembly to be assembled...
-
Write the structures of the enol forms of 2-butanone that react with chlorine to give 1-chloro-2-butanone and 3-chloro-2-butanone.
-
Consider a cantilevered beam shown in the figure. Solve the problem using: (a) five beam elements, (b) \(4 \times 20\) plane stress solid elements, and (c) \(4 \times 4 \times 20\) hexahedral...
-
Every evening the major news networks report that "the market" is up, down, or unchanged. Ask atleast ten people whatthey think is meant by "the market." Report your findings in a one-page summary,...
-
May Yee had a $950,000 net worth at the time of her death in 2012. In addition, she owned a $250,000 whole life policy with $40,000 of accumulated cash value; her niece was designated as the...
-
Locate three to five articles about problems experienced by individuals or families who failed to develop estate plans or to identify responsible parties in the event of physical or mental...
-
Following his death in 2012, Zane Wulster's gross taxable estate was valued at $3,300,000. He has made a total of $200,000 of gifts that exceeded the annual gift tax exclusion. a. What is the amount...
-
The following figure shows the contents and pressures of three vessels of gas that are joined by a connecting tube. After the valves on the vessels are opened, the final pressure is measured and...
-
Using the theoretical sampling strategy, how many samples of size 4 (n = 4) can be drawn from a population of size: (a) N = 5? (b) N = 8? (c) N = 16? (d) N = 50?
-
Compare the composition and the roles of the ASB in the UK and the ANC in France.
-
StoreAll produces plastic storage bins for household storage needs. The company makes two sizes of bins: large (50 gallon) and regular (35 gallon). Demand for the product is so high that StoreAll can...
-
Suppose a Roasted Olive restaurant is considering whether to (1) bake bread for its restaurant in-house or (2) buy the bread from a local bakery. The chef estimates that variable costs of making each...
-
Priscilla Nailey manages a fleet of 375 delivery trucks for Jones Corporation. Nailey must decide if the company should outsource the fleet management function. If she outsources to Fleet Management...
-
1. Identifield and explain 3 causes of stress and 3 techniques to overcome stress ? 2. examine worksite stress management programmers more likely to be effective.
-
Bright Books is a bookstore chain established 10 years ago in northern Michigan. Bright Books has had great success in Michigan and Ohio and is beginning to expand into other states. Most recently,...
-
Design a synchronous counter using D flip-flops such that the count sequence of the counter follows the digits in . Each state must be 4-bit. Follow the steps below: (i) (ii) (iii) (iv) 137836...
Study smarter with the SolutionInn App