The Cutting Department of Cassel Manufacturing has the following production and cost data for July. Materials are
Question:
Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.
Instructions
(a) Determine the equivalent units of production for
(1) Materials and
(2) Conversion costs.
(b) Compute unit costs and prepare a cost reconciliationschedule.
Transcribed Image Text:
Production Costs . Transferred out 12,000 units. 2. Started 3,000 units that are 60% Beginning work in process Materials Labor $-0- complete as to conversion costs and 100% complete as to materials at July 31 45,000 16,200 18,300 Manufacturing overhead
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (21 reviews)
a Materials Conversion Costs Units transferred out Work in process July 31 30...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
The Cutting Department of Cassel Company has the following production and cost data for July. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the...
-
The cutting department of Groneman Manufacturing has the following production and cost data for July. Production 1. Transferred out 12,000 units. 2. Started 3,000 units that are 60% complete in terms...
-
The cutting department of Chan Manufacturing has the following production and cost data for August. Production 1. Started and completed 8,000 units. 2. Started 2,000 units that are 40% completed at...
-
The equity profolio of a company is thus 31/12/2001. Nature: Actions A, Quantity = 350, Unit cost = 36000, Purchase dates = 03/1999, 2000 = 37000, 2001= 34000. Nature: Actions B, Qauntity = 125, Unit...
-
1. Bencorp issues a $90,000, 6-month, noninterest-bearing note that the bank discounted at a 10% discount rate. Prepare the journal entry to record the issuance of the note. 2. On March 1, Navy...
-
Sacred Heart Hospital has the following receivables amounts, listed by age: a. Complete the aging schedule by filling in the percentage of total value column. b. Interpret your results. c. Using...
-
Consider forecasting with the \(A R(1)\) model. a. Use the forecasting chain rule in equation (8.4) to show \[y_{T+k}-\widehat{y}_{T+k} \approx \varepsilon_{T+k}+\beta_{1}...
-
Denominator-level problem. Speedy, Inc. is a manufacturer of the very popular G36 motorcycles. The management at Speedy has recently adopted absorption costing and is debating which denominator level...
-
On April 1, 2020, Gusto Corp. purchases a call option for $500, giving Gusto the right to purchase 1,000 shares of Delta Inc. for $30 each until December 1, 2020. Delta Stock Inc. are currently...
-
a. Given the following water oil relative permeability curves,you are asked to explain how we can reach the conclusion that almost 10% percent of the pore space contributes noting to the permeability...
-
In Wayne Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing...
-
The Sanding Department of Richards Furniture Company has the following production and manufacturing cost data for March 2012, the first month of operation. Production: 9,000 units finished and...
-
Distinguish between expected value and the single most likely estimate.
-
A first-order dynamic system is modeled as \[\dot{y}+3 y=f(t), y(0)=1\] Assuming the input \(f(t)\) is a step function with magnitude 0.8 , find \(y_{s s}\).
-
Find the frequency response of the given system. \(10 \ddot{x}+0.8 \dot{x}+20 x=35 \sin t\)
-
Show that in the Bode plot of the standard, second-order transfer function, the asymptotic approximation of the logarithmic magnitude for the high-frequency range is given by \[-40 \log...
-
Consider the RLC circuit in Problem 11. a. Write the governing equation in terms of the electric charge \(q\). b. Assuming initial conditions are \(q(0)=0, \dot{q}(0)=1\), plot \(q\) and \(i\) versus...
-
Assuming zero initial conditions, \(u(t)\) denotes the unit step. a. Find the response \(x(t)\) in closed form. b. Plot the response by using the step command. \(3 \ddot{x}+12 \dot{x}+10 x=10 u(t)\)
-
How would a decrease in the reserve requirement affect the (a) size of the money multiplier, (b) amount of excess reserves in the banking system, and (c) extent to which the system could expand the...
-
Read the case study Richter: Information Technology at Hungarys Largest Pharma and answer the following question: How does the organization ensure the accuracy of the data it stores?
-
Draw Lewis structures for the following species. (The skeleton is indicated by the way the molecule is written.) (a) Cl 2 CO (b) H 3 CCN
-
Tony Andres is studying for his next accounting examination. Explain to Tony what he should know about the differences between the income statements for a manufacturing and for a merchandising...
-
Jerry Lang is unclear as to the difference between the balance sheets of a merchandising company and a manufacturing company. Explain the difference to Jerry.
-
Mel Finney claims that the distinction between direct and indirect materials is based entirely on physical association with the product. Is Mel correct? Why?
-
A system consisting of a small 1.20-kg object attached to a Ax(cm) light spring oscillates on a smooth, horizontal surface. A 5.00- graph of the position x of the object as a function of time is 4.00...
-
Transform following Relational model into ER Model. id Author writes authorid bookid Book bookid title edition libid memberld name dob AuthorContact id contact publishes Library id bid date id...
-
State suitable case for each model Hierarchical Model Network data model Relational model Object-oriented data model
Study smarter with the SolutionInn App