final exam

Project Description:

chapman corporation

the following information is available for chapman corporation for the current month:

started this month
80,000
units
beginning wip
(40% complete)
7,500
units
normal spoilage (discrete)
1,100
units
abnormal spoilage
900
units
ending wip
(70% complete)
13,000
units
transferred out
72,500
units
beginning work in process costs:
material
$10,400

conversion
13,800

current costs:
material
$120,000

conversion
350,000


all materials are added at the start of production and the inspection point is at the end of the process.

refer to chapman corporation. what are equivalent units of production for conversion costs using fifo?

79,700

79,500

81,100

80,600crafton corporation

crafton corporation has the following information for the current month:

units started
100,000
units
beginning work in process: (35% complete)
20,000
units
normal spoilage (discrete)
3,500
units
abnormal spoilage
5,000
units
ending work in process: (70% complete)
14,500
units
transferred out
97,000
units
beginning work in process costs:
material
$15,000

conversion
10,000


all materials are added at the start of the production process. crafton corporation inspects goods at 75 percent completion as to conversion.

refer to crafton corporation. what are equivalent units of production for material, assuming fifo?

100,000

96,500

95,000

120,000
the cost of abnormal continuous losses is

considered a product cost.

absorbed by all units in ending inventory and transferred out on an equivalent unit basis.

written off as a loss on an equivalent unit basis.

absorbed by all units past the inspection point.mercury corporation

beginning inventory (30% complete as to material b and 60% complete for conversion)
700
units
started this cycle
2,000
units
ending inventory (50% complete as to material b and 80% complete for conversion)
500
units

beginning inventory costs:
material a
$14,270

material b
5,950

conversion
5,640

current period costs:
material a
$40,000

material b
70,000

conversion
98,100


material a is added at the start of production, while material b is added uniformly throughout the process.

refer to mercury corporation assuming a fifo method of process costing, compute the average cost per eup for material b.

$20.10

$31.25

$20.00

$31.00

chapman corporation

the following information is available for chapman corporation for the current month:

started this month
80,000
units
beginning wip
(40% complete)
7,500
units
normal spoilage (discrete)
1,100
units
abnormal spoilage
900
units
ending wip
(70% complete)
13,000
units
transferred out
72,500
units
beginning work in process costs:
material
$10,400

conversion
13,800

current costs:
material
$120,000

conversion
350,000


all materials are added at the start of production and the inspection point is at the end of the process.

refer to chapman corporation. what is cost per equivalent unit for material using weighted average?

$1.49

$1.63

$1.56

$1.44

which of the following standards can commonly be reached or slightly exceeded by workers in a motivated work environment?

ideal
practical
expected annual

no no no

no yes yes

yes yes no

no yes no
fleetwood company

fleetwood company uses a standard cost system for its production process and applies overhead based on direct labor hours. the following information is available for may when fleetwood produced 4,500 units:

standard:
dlh per unit
2.50
variable overhead per dlh
$1.75
fixed overhead per dlh
$3.10
budgeted variable overhead
$21,875
budgeted fixed overhead
$38,750

actual:
direct labor hours
10,000
variable overhead
$26,250
fixed overhead
$38,000


refer to fleetwood company. using the two-variance approach, what is the controllable variance?

$5,812.50 u

$5,812.50 f

$4,375.00 u

$4,375.00 fthe efficiency variance computed on a three-variance approach is

equal to the efficiency variance computed on the four-variance approach.

equal to the variable overhead spending variance plus the efficiency variance computed on the four-variance approach.

computed as the difference between applied variable overhead and actual variable overhead.

computed as actual variable overhead minus the flexible budget for variable overhead based on actual hours worked.which of the following are considered controllable variances?
voh spending total overhead budget volume

yes yes yes

no no yes

no yes no

yes
Skills Required:
Project Stats:

Price Type: Fixed

Project Budget: $20 to $50
Expired
Total Proposals: 11
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