SONY Woolens is a manufacturer of wool cloth. The company is using weighted average method. The...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
SONY Woolens is a manufacturer of wool cloth. The company is using weighted average method. The information for March is as follows: Beginning Work in Process Started Units Completed Units Ending Work in Process Total Cost added during Physical units Direct Material Conversion Costs $2,600 10,000 units $6,000 20,000 units 25,000 units ? $60,000 $16,650 Degree of completion for ending work in process: direct materials, 100%; conversion costs, 50%. Required: 1- Compute the physical units (20 marks) 2- Compute the equivalent units (10 marks) 3- Compute the total cost to account for (20 marks) 4- Compute the cost per equivalent units (20 marks) 5- Assign the cost to completed units and ending work in process (10 marks) SONY Woolens is a manufacturer of wool cloth. The company is using weighted average method. The information for March is as follows: Beginning Work in Process Started Units Completed Units Ending Work in Process Total Cost added during Physical units Direct Material Conversion Costs $2,600 10,000 units $6,000 20,000 units 25,000 units ? $60,000 $16,650 Degree of completion for ending work in process: direct materials, 100%; conversion costs, 50%. Required: 1- Compute the physical units (20 marks) 2- Compute the equivalent units (10 marks) 3- Compute the total cost to account for (20 marks) 4- Compute the cost per equivalent units (20 marks) 5- Assign the cost to completed units and ending work in process (10 marks)
Expert Answer:
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
Posted Date:
Students also viewed these accounting questions
-
For the journal entry part write what this game does in a word document and send describing what the codes do. For the actual code send it in a way that it can be run by copy pasting into python...
-
Accounting 9/45 This should be prepared in a Word document with embedded Excel spreadsheets for relevant calculations and supporting schedules. You still need to post your Excel worksheet to show...
-
Mohammed started Company in Muscat in June 2020. During the month of June, several transactions occurred which are as follows: June 5. June 8. June 10. June 13. June 18. June 20. June 24. June 25....
-
Visit www.guidestar.org and obtain the Form 990 for a local not-for-profit organization. a. Examine Part VIII of the 990 to determine gross receipts of the organization. b. Examine Part IX of the...
-
Discuss why there is a debate concerning how monetary and fiscal policy can best be used to exit from the Global Economic Crisis of 200709.
-
A circular bar AB of length L is fixed against rotation at the ends and loaded by a distributed torque t(x) that varies linearly in intensity from zero at end A to t0 at end B (see figure). Obtain...
-
The force transmissibility of a damped single-degree-of-freedom system with base motion is given by Eq. (9.106): \[T_{f}=\frac{F_{t}}{k Y}=r^{2}\left\{\frac{1+(2 \zeta r)^{2}}{\left(1-r^{2}...
-
Day and Night formed an accounting partnership in 2008. Capital transactions for Day and Night during 2008 are as follows: Partnership net income for the year ended December 31, 2008; is $68,400...
-
Brennan's Bakery purchases Celeste's Cookies. Celeste's Cookies has assets of $ 1 2 1 million and liabilities for $ 6 3 million. Brennan records Goodwill of $ 3 7 million related to the purchase. How...
-
Determine the hydrostatic force F on the triangular gate, which is hinged at the bottom edge and held by the reaction RT at the upper corner. Express F in terms of , h, and W. Also determine the...
-
Rocky Guide Service provides guided 1 to 5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,900 per tour...
-
What kinds of factors do courts consider when making an alimony determination?
-
Why would someone enter into one?
-
In the event of a dispute over the enforcement of a premarital contract, do you think the agreement should be treated like an ordinary contract or do you think a court should review it for...
-
What criticisms have been raised regarding the clean-break approach to spousal support awards?
-
What are postnuptial contracts? How do they different from premarital agreements?
-
Innovation is the key to business growth and competitive advantage. As such, we must create conditions in which innovation can strive in organizations. A starting point is to explore the different...
-
Define deferred revenue. Why is it a liability?
-
How are investments, investment income, and gains and losses on these investments accounted for? Is there a difference in treatment for public as opposed to private colleges and universities?
-
In verifying the capital asset records of the electric utility department, Jean Hanson, staff auditor of a citys internal audit department, noted that several trucks and pieces of equipment were out...
-
Why might analysts be concerned if a government has an unusually high ratio of intergovernmental revenues to total revenues relative to a comparable government? Why might they be concerned if the...
-
What is thermodynamics?
-
An astronaut weighs \(800 \mathrm{~N}\) on the earth's surface where the acceleration of gravity is \(g=9.83 \mathrm{~m} / \mathrm{s}^{2}\). The mass and the radius of the moon are \(7.4 \times...
-
Explain the scope and limitations of thermodynamics.
Study smarter with the SolutionInn App