The following production data is given by Warriors Manufacturing Company for the month of May and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following production data is given by Warriors Manufacturing Company for the month of May and June Materials are added at the beginning of the period. Overhead is applied at 120% of Direct labor cost MAY Beginning Inventory Units started this period Ending inventory COSTS: Beginning Inventory Materials Conversion CURRENT COSTS Materials Conversion JUNE: Units started this period Ending inventory CURRENT COSTS Materials Conversion 1. EUP-Materials 2. EUP-Labor 3. EUP-Overhead 4. Cost/EUP-materials 5. Cost/EUP-Labor 6. Cost/EUP-overhead 25,000 units 70% labor; 60% overhead 120,000 units 18,000 units 60% labor; 40% overhead 7. Cost of goods manufactured 8. Cost of ending inventory P119,200 P253,000 P600,000 P1,436,160 135,000 units 20,000 units 65% labor: 55% overhead COMPUTE FOR THE FOLLOWING USING THE WEIGHTED AVERAGE METHOD FOR THE MONTHS INDICATED: MAY JUNE P780,000 P1,801,800 The following production data is given by Warriors Manufacturing Company for the month of May and June Materials are added at the beginning of the period. Overhead is applied at 120% of Direct labor cost MAY Beginning Inventory Units started this period Ending inventory COSTS: Beginning Inventory Materials Conversion CURRENT COSTS Materials Conversion JUNE: Units started this period Ending inventory CURRENT COSTS Materials Conversion 1. EUP-Materials 2. EUP-Labor 3. EUP-Overhead 4. Cost/EUP-materials 5. Cost/EUP-Labor 6. Cost/EUP-overhead 25,000 units 70% labor; 60% overhead 120,000 units 18,000 units 60% labor; 40% overhead 7. Cost of goods manufactured 8. Cost of ending inventory P119,200 P253,000 P600,000 P1,436,160 135,000 units 20,000 units 65% labor: 55% overhead COMPUTE FOR THE FOLLOWING USING THE WEIGHTED AVERAGE METHOD FOR THE MONTHS INDICATED: MAY JUNE P780,000 P1,801,800
Expert Answer:
Answer rating: 100% (QA)
SOLUTION To compute the requested values using the weighted average method we will calculate the equivalent units of production EUP for materials labo... View the full answer
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
Posted Date:
Students also viewed these accounting questions
-
Chef Gordon Whimsey is debuting a new food truck in the plaza downtown. He will be one of five food trucks in the area. At first, he doesn't expect to grow the market, so he will have to take sales...
-
The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows: 3800 units, 80% completed ............ $ 60,400 Direct materials, 32,000 units ..............
-
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...
-
Consider the graph of a function g(x). g(x) 5 f 3 2 1 2 3 4 5 6 Find the point c at which the function has a jump discontinuity but is right-continuous. C = What value should be assigned to g(c) to...
-
Firms in the real estate investment trusts (REITs), airlines, electric utilities, and paper products industries tend to have high leverage. Explain why firms in these industries would prefer to have...
-
According to Figure 1, mean blood plasma concentration of Ingredient A administered in immediate-release form increases most during which of the following time periods? A. From the moment of dosage...
-
A sequence is known to be arithmetic. Two of the terms are \(a_{14}=41\) and \(a_{38}=161\). Use that information to find the constant difference and the first term. Then determine the 151 st term of...
-
Hobart, Evans, and Nix is a small law firm that employs 10 partners and 12 support persons. The firm uses a job-order costing system to accumulate costs chargeable to each client, and it is organized...
-
BUSI 3233 - Homework assignment #2 {case write-up] You can work on this assignment in groups of two students. The assignment is based on HKUEIUe case. Please read the case and answer the following...
-
Current Attempt in Progress Journalize the following business transactions in general journal form. (Credit account titles are automatically indented when the amount is entered. Do not indent...
-
Assume that Co. A elects to revalue its long-term assets under IFRS, What effect will this have on the following ratios in future periods: Briefly explain why. + Increase decrease - or no change...
-
Al Harrington's Wacky Waving Inflatable Arm Flailing Tubeman Warehouse and Emporium recorded the following information from its lunch period: # of Customers 100 # of Servers 4 # of Seats 50 Total...
-
A basketball player makes a jump shot. The 0.610-kg ball is released at a height of 2.03 m above the floor with a speed of 7.51 m/s. The ball goes through the net 3.10 m above the floor at a speed of...
-
We can compare supplier's performance based on the total cost of ownership. What is encompassed by total cost of ownership? How does a company understand all of the costs? How might higher...
-
A bar is supported with a pin support as shown. Determine the maximum force, F, that could be applied to the bar when considering each type of stress listed below. The dimensions of the bar are shown...
-
Question 3 6 points Atlantis Fisheries issues zero coupon bonds on the market at a price of $437 per bond. Each bond has a face value of $1,000 payable at maturity in 20 years. The bonds are callable...
-
An investor sells a European call on a share for $4. The stock price is $47 and the strike price is $50. Under what circumstances does the investor make a profit? Under what circumstances will the...
-
Sales mix, three products. The Ronowski Company has three product lines of beltsA, B, and C with contribution margin s of $3, $2, and $1, respectively. The president foresees sales of 200,000 units...
-
Distinguish between a joint product and a byproduct?
-
It is not important for a company to distinguish between cost incurrence and locked-in costs. Do you agree? Explain?
-
On1 January 2006, F Limited commenced business selling goods on hire purchase. Under the _ terms of the agreements, an initial deposit of 20 per cent is payable on delivery, followed by four equal...
-
The financial statements of J. Foot Ltd are made up to 31 March in each year. Work on Contract 349 started on 1 July 2006 and completed on 31 January 2008. The total contract price was 580,000, but a...
-
Dundas Limited purchased a machine under a hire purchase agreement on 1 January 2008. The agreement provided for an immediate payment of 2,000, followed by five equal instalments of 3,056, each...
Study smarter with the SolutionInn App