d out of Cool Manufacturing produces cotton cloth. The company is using the weighted average method....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
d out of Cool Manufacturing produces cotton cloth. The company is using the weighted average method. The information for May is as follows: Beginning Work in Process Started Units Completed Units Ending Work in Process ** Total Cost added during period Physical units 1- 2- 3- 10,000units 55,000units 60,000units 5,000units 4- 5- Direct Material Cost $105,000 $314,100 Conversion Costs $68,000 *Degree of completion for beginning work in process: direct materials, 70%; conversion costs, 60% **Degree of completion for ending work in process: direct materials, 70%; conversion costs, 80% $271,200 Required: Use the table below to answer" Compute the physical units (12 marks) Compute the equivalent units (16 marks) Compute the total cost to account for (18 marks) Compute the cost per equivalent units (19 marks) Assign the cost to completed units and ending work in process (15 marks) d out of Cool Manufacturing produces cotton cloth. The company is using the weighted average method. The information for May is as follows: Beginning Work in Process Started Units Completed Units Ending Work in Process ** Total Cost added during period Physical units 1- 2- 3- 10,000units 55,000units 60,000units 5,000units 4- 5- Direct Material Cost $105,000 $314,100 Conversion Costs $68,000 *Degree of completion for beginning work in process: direct materials, 70%; conversion costs, 60% **Degree of completion for ending work in process: direct materials, 70%; conversion costs, 80% $271,200 Required: Use the table below to answer" Compute the physical units (12 marks) Compute the equivalent units (16 marks) Compute the total cost to account for (18 marks) Compute the cost per equivalent units (19 marks) Assign the cost to completed units and ending work in process (15 marks)
Expert Answer:
Answer rating: 100% (QA)
UNITS Physical Units Equivalent Units Beg WIP 10000 Started 55000 Unit to account for 65000 Direct Material Conversion Costs Completed and transferred ... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
Students also viewed these accounting questions
-
Mary Company purchases its interest in John Company on January 1, 2016, for $204,000. John Company purchases its interest in Joan Company on January 1, 2017, for $75,000. Mary Company purchases its...
-
Smith, Inc., has the following stockholders' equity accounts as of January 1, 2014: Preferred stock - $100 par, nonvoting and nonparticipating, 8 percent cumulative dividend $ 2,020,000 Common stock...
-
Ping Corporation acquired 100 percent of Pink's Company's common stock on January 1, 2015. Balance sheet data for the two companies immediately following the acquisition follow:...
-
Provide the appropriate statute for your answer (format style - IRAC - Issue, Rule, Application and Conclusion.) what are your thought? Problem Scenario- Earnest is married to Janice. Earnest and...
-
Cyclopropane, C3H6, is converted to its isomer propylene, CH2PCHCH3, when heated. The rate law is first order in cyclopropane, and the rate constant is 6.0 104/s at 500oC. If the initial...
-
A new structural design software package is available for analyzing and designing three-sided guyed towers and three- and four-sided self-supporting towers. A single-user license will cost $6000 per...
-
Plaintiff purchased stain and paint from defendant that, upon application, presented significant issues: discoloration and cracking. These issues became apparent 30 days after receipt of the...
-
Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2014. Costs incurred for 2014 are as follows (V stands for variable; F stands for fixed): Direct...
-
23. If an item retails for $320 after being marked up by 85%, what was the dollar amount of the cost?
-
Cheadle Company purchased a fleet of 20 delivery trucks for $8,000 each on January 2, 2019. It decided to use composite depreciation on a straight-line basis and calculated the depreciation from the...
-
determine if it is a simple interest problem, a compound interest problem, a savings annuity problem, or a payout annuity problem: Kenji is managing investments for a non-profit company. He would...
-
If you presided over an international organization and wanted to increase the population doubling time in Bangladesh, what specific policy would you suggest? Explain your choice.
-
Go online and pick a mens clothing store (e.g., Brooks Brothers) and select a style of shirt. List all the SKUs that would exist for that style.
-
Income and education levels are on the rise in many parts of the world. a) How do you think your own post-college boost in income (after you land your first "real" job) will affect your consumption...
-
If the environmental Kuznets curve held for individual households, what would the pollution-minimizing Gini coefficient be? Interpret this outcome and explain some of its drawbacks.
-
A value of what type is revealed by your answer to Question 4? Which valuation method does this information lend itself to? Question 4 Room rates in rural Bland, Virginia, are $34 per night. Rates in...
-
The stability of a company is measured by the relationship between the funds provided by creditors and those provided by shareholders. Group of answer choices False True
-
2.) Find the Laplace transform of f(t) 7e-St cos 2t +9 sinh2 2t. Use Laplace Table. %3D
-
Taylor Corporation uses a job order costing system and allocates manufacturing overhead at a rate of $25 per machine hour. During the period, the company used 800 machine-hours and actually incurred...
-
Guenther and Firmin, both of whom are CPAs, form a partnership, with Guenther investing $100,000 and Firmin, $80,000. They agree to share net income as follows: 1. Salary allowances of $80,000 to...
-
Zelda Manufacturing organized in June and recorded the following transactions during June, its first month of operations: 1. Purchased materials costing $800,000. 2. Used direct materials in...
-
When facilitating the methylation or pseudouridylation of an rRNA, a snoRNA functions as a. a decoy. b. a scaffold. c. a guide. d. both b and c.
-
Suppose that the overexpression of a particular miRNA was associated with pancreatic cancer. Which of the following agents might be effective in treating this type of cancer? a. Enoxacin b. A DNA...
-
When an ncRNA functions as a decoy, it a. contains binding sites for many different proteins, thereby promoting the formation of a large complex. b. recognizes other ncRNAs and sequesters them,...
Study smarter with the SolutionInn App