Complete this production cost report: Beginning inventory Started during the month Total units to account for Completed
Question:
Complete this production cost report:
Transcribed Image Text:
Beginning inventory Started during the month Total units to account for Completed and transferred out Ending work in process Total units accounted for Work in process completion % Completed and transferred out Ending work in process Total units accounted for Costs to account for Beginning work in process Transferred in Incurred during the period Total costs to account for Equivalent units Cost per equivalent unit for department Transferred-out costs End work in process: materials End work in process: conversion End work in process: total Costs to account for 20,000 75,000 ? 70,000 ? ? 100% Material Units 70,000 ? ? Materials $ 3,500 0 $25,000 ? ? ? ? ? 25% Conversion Units 70,000 ? Conversion $16,000 $45,000 ? ? ? ? ? ? Total 70,000 ? Total $19,500 0 $70,000 ?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 20% (5 reviews)
To complete the production cost report we need to calculate the missing values step by step Lets go through each part of the report Total units to acc...View the full answer
Answered By
Churchil Mino
I have been a tutor for 2 years and have experience working with students of all ages and abilities. I am comfortable working with students one-on-one or in small groups, and am able to adapt my teaching style to meet the needs of each individual. I am patient and supportive, and my goal is to help my students succeed.
I have a strong background in math and science, and have tutored students in these subjects at all levels, from elementary school to college. I have also helped students prepare for standardized tests such as the SAT and ACT. In addition to academic tutoring, I have also worked as a swim coach and a camp counselor, and have experience working with children with special needs.
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 2 Managerial Accounting
ISBN: 9780357364802
1st Edition
Authors: OpenStax
Question Posted:
Students also viewed these Business questions
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Case Study MysteryLab Inc: Producing Gaming Chairs to Match the Game Introduction This case is designed to assist the student to better understand how absorption costing, costvolume-profit analysis,...
-
This case is designed to assist the student to better understand how absorption costing, costvolume-profit analysis, and incremental analysis can influence business decisions. The case also aids in...
-
Two bars AB and BC of negligible weight are attached to a single spring of constant k that is unstretched when the bars are horizontal. Determine the range of values of the magnitude P of two equal...
-
Using the earnings data developed in E3-1 And assuming that this was the first week of employment for M. Rozow with Covington Manufacturing Co., prepare the journal entries for the following: a. The...
-
Your employer asks you to build a 20-cm-long solenoid with an interior field of 5.0 mT. The specifications call for a single layer of wire, wound with the coils as close together as possible. You...
-
Larry Riley formed a rental agreement for a self-storage unit with Iron Gate Self Storage in December 2003. The agreement stated that a maximum of \($5,000\) of personal property could be stored in...
-
Dillon Labs has asked its financial manager to measure the cost of each specific type of capital as well as the weighted average cost of capital. The weighted average cost is to be measured by using...
-
When a company lends money to employees at a rate of 4%, the company will record ______. Multiple choice question. a liability called Accounts Payable a liability called Notes Payable an asset called...
-
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for...
-
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for...
-
The seller of an option can never make any money from a change in the value of the underlying asset; he or she can only hope that the option will not be exercised and that and he or she will not lose...
-
Though owned by different parties, members of the supply chain should coordinate with each other instead of pursuing their own objectives. Do you agree? Explain.
-
Discounts related to price discrimination will be volume based. unit based. marginally based. lot size based.
-
In the pricing schedule for marginal unit quantity discounts, the average cost of a unit decreases at a breakpoint. the average cost of a unit increases at a breakpoint. the marginal cost of a unit...
-
A graphical plot depicting the level of inventory over time is an inventory profile. a distribution inventory. an inventory drawing. an inventory graph.
-
Inventory carried for the purpose of satisfying demand that exceeds the amount forecasted for a given period is cycle inventory. demand inventory. safety inventory. security inventory.
-
Official Reserve Rare Coins (ORRC) was formed on January 1, 2016. Additional data for the year follow: a. On January 1, 2016, ORRC issued no par common stock for $450,000. b. Early in January, ORRC...
-
In the simple quantity theory of money, what will lead to an increase in aggregate demand? In monetarism, what will lead to an increase in aggregate demand?
-
You have decided to open up a small convenience store in your hometown. As part of the initial set-up process, you need to determine whether to use a perpetual inventory system or a periodic...
-
Using the following account balances, calculate for the two years presented: A. Working capital B. Current ratio Accounts payable Accounts receivable Cash Prepaid advertising Utilities payable Wages...
-
The following transactions occurred for Donaldson Inc. during the month of July. A. Record the transactions for Donaldson Inc. in the proper special journal and subsidiary ledger. B. Record the same...
-
Summary: Each student is to select a publicly traded company for which they will prepare a 15-page minimum (excluding cover page, citations, and exhibit section) written case analysis. The student...
-
A consumer's preferences over goods x and y can be represented by the utility function U(x, y) = xy. The consumer takes as given the prices of the goods (denoted px and py, respectively) and its...
-
A consumer's preferences over two goods (x1, x2) are represented by the utility function u(x1,x2) = 5x + 2x2. The income he allocates for the consumption of these two goods is m. The prices of the...
Study smarter with the SolutionInn App