Question

Hi-sense Technologies produces stripped-down phones for sale to customers in frontier economies. The firm purchases used or obsolete models of specific smartphone models. It removes nonstandard applications, installs open source Android software, and unlocks the phone so it can operate on GSM networks. Hi-sense’s most popular offering is the iZoom phone. Given the importance of scaling and cost control for the success of its business model, Hi-sense uses a standard-costing system. The following information is available for the second quarter of 2014 (April 1– June 30):


Required
1. What are the completion percentages of iZoom phones in beginning work-in-process inventory with respect to the two inputs?
2. What are the completion percentages of iZoom phones in ending work-in-process inventory with respect to the two inputs?
3. What are the standard costs per unit for direct materials and conversion costs?
4. What is the total cost of work-in-process inventory as of April 1, 2014 ( the start of the secondquarter)?


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  • CreatedMay 14, 2014
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