The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Percent...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Percent Complete 40 Percent Complete 60 Units Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 60,000 322,000 300,000 82,000 B0% J0 (a) Compute the number of units started and completed this period for the first production department. Units started and completed 382,000 (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production department for April using the FIFO method. Equivalent unita of production: FIFO method Direct Materials Conversion Units Percent Added Percent Added EUP EUP 300,000 24,600 Beginning work in process 60,000 100% 300,000 100% Units started 322,000 80% 82,000 30% Ending work in process 382.000 764,000 Equivalent units of production The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Percent Complete 40 Percent Complete 60 Units Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 60,000 322,000 300,000 82,000 B0% J0 (a) Compute the number of units started and completed this period for the first production department. Units started and completed 382,000 (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production department for April using the FIFO method. Equivalent unita of production: FIFO method Direct Materials Conversion Units Percent Added Percent Added EUP EUP 300,000 24,600 Beginning work in process 60,000 100% 300,000 100% Units started 322,000 80% 82,000 30% Ending work in process 382.000 764,000 Equivalent units of production
Expert Answer:
Answer rating: 100% (QA)
Materlal Converslon of Competition Physical Equivale... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The first production department of Stone Inc. reports the following for April. Compute the number of equivalent units of production for both direct materials and conversion for April using the...
-
Ash Company's beginning work in process inventory consisted of 6,000 units of product on January 1, 2011. During 2011, the company started 24,000 units of product and transferred 25,000 units to...
-
1.) A company's beginning Work in Process inventory consisted of 20,000 units that were 80% complete with respect to direct labor. A total of 90,000 were finished during the period and 25,000...
-
Codominance observable effect on the phenotype of a heter neither allele is recessive-both alleles are dominant. 6. Which of the genotypes results in a blood type that provides clear evidence of...
-
In a recent poll, the Gallup Organization found that 45% of adult Americans believe that the overall state of moral values in the United States is poor. Suppose a survey of a random sample of 500...
-
Consider the following formulations of the two-variable PRF: Model I: Y i = 1 + 2 X i + u i Model II: Y i = 1 + 2 (X i X ) + u i a. Find the estimators of 1 and 1 . Are they identical? Are...
-
For each of the following, calculate the standard error of the difference \(\left(s \mathrm{X}^{-} 1-\mathrm{X}^{-} ight.\) 2 ) and the \(t\)-test for independent means. a. N = 6, N = 6, X 1 18.50, $...
-
Bangor Products Co. obtained the following information from its records for April: Required: 1. Prepare, in summary form, the journal entries that would have been made during the month to record...
-
Output: Write a program that asks the user for the number of columns in a square matrix (2-d array with the same number of rows and columns). Randomly fill the matrix with int values between 1 and...
-
The data for the number employed at several famous IT companies is maintained in the COMPANY table. Write a query to print the /Ds of the companies that have more than 10000 employees, in ascending...
-
Illini Inc. is billed quarterly for the cost of utilities. The bill for October - December 2022 is expected to be received and paid in January 2023. The average monthly cost for utilities is $1,500....
-
An electrical energy audit indicates that the motor control center consumption is 8 10 6 kWh/year. By using high-efficiency motors, a savings of 15 percent can be achieved. The additional cost for...
-
Consider an aluminum fabrication plant with 400 employees that runs on three shifts for a total of 8,760 hours per year. The company spent $1.1 million in electric energy bills last year. The plant...
-
i. Calculate the utility bill for a facility during one month characterized by the following parameters: Actual demand: 450 kW Energy consumption: 85,000 kWh Average power factor: 70 percent The...
-
A utility offers the following rates to its commercial customers: The on-peak season includes the months of June through October. The off-season includes the remainder of the months of any year. The...
-
A company is considering the purchase of a new machine that will last eight years and cost $90,000 in the first year, decreasing by $1,000 each year to $2,000 in the eighth year. Determine how much...
-
Does state follow the attractive nuisance doctrine? If so, what are the elements one must show? If not, what is the rule for child trespassers?
-
Refer to the situation described inBE 18-13, but assume a 2-for-1 stock split instead of the 5% stock dividend. Prepare the journal entry to record the stock split if it is to be effected in the form...
-
Caesar Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Prepare a sales journal like the one in Exhibit 7.5. Journalize the...
-
Hudson Co. reports the following contribution margin income statement. Compute (1) Break-even point in units and (2) Break-even point in sales dollars. Contributlon Margin Income Statement For Year...
-
Use the budgeted information in Exercise 22-28, and the ending year balance of Retained Earnings of $78,000 on December 31, to prepare Lamonte Co.s budgeted balance sheet as of December 31. Data From...
-
Stan rented an office building to Clay for \($3,000\) per month. On December 29, 2022, Stan received a deposit of \($4,000\) in addition to the first and last months rent. Occupancy began on January...
-
Sally W. Emanual, a teacher, had the following dividends and interest during 2022: Additional information pertaining to Sally Emanual includes The taxable portion of the pension is \($7,000.\) Sally...
-
Jim and Linda are your tax clients. They were divorced in 2018, and the divorce decree stated that Jim was to make monthly payments to Linda. The court designated \($300\) per month as alimony and...
Study smarter with the SolutionInn App