Sandhill Company manufactures hockey pucks and soccer balls, For both products, materials are added at the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sandhill Company manufactures hockey pucks and soccer balls, For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Sandhill uses the FIFO method to calculate equivalent units of production. Production and cost data for the Assembly Department for August are as follows: Production Data-Hockey Pucks Work in process inventory units, August 1 Units started into production Work in process inventory units. August 31 Cost Data-Hockey Pucks Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Units 800 2,000 900 $1,100 2,400 1,100 1,476 200 2,360 Percent Complete as to Conversion Costs 70% 30% 90% Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Work in process inventory units, August 31 Cost Data-Soccer Balls Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead (a) 1,476 200 2,360 200 $480 3,776 990 2,460 Your answer has been saved. See score details after the due date. 90% 60% Prepare a production cost report for the month of August for the hockey pucks only. (Round unit costs to 3 decimal places, e.g. 15.251 and other answers to the nearest whole dollar, e.g. 5,275.) Quantities to be accounted for Work in process inventory, August 1 Started into production Total units to be accounted for accounted for Completed and transferred out Work in process inventory, August 1 SANDHILL COMPANY Production Cost Report-Hockey pucks Physical Units Equivalent Units of Production Materials Conversion Co accounted for Completed and transferred out Work in process inventory, August 1 Started and completed Work in process inventory, August 31 Total units costs Costs in August Equivalent units of production Unit costs Reconciliation Schedule to ho accounted for Reconciliation Schedule. to be accounted for Work in process inventory, August 1 Added into production Total costs to be accouned for accounted for Completed and transferred out Work in process inventory, August 1 Conversion costs to complete beginning inventory Started and completed in process inventory, August 31 Materials Sandhill Company manufactures hockey pucks and soccer balls, For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Sandhill uses the FIFO method to calculate equivalent units of production. Production and cost data for the Assembly Department for August are as follows: Production Data-Hockey Pucks Work in process inventory units, August 1 Units started into production Work in process inventory units. August 31 Cost Data-Hockey Pucks Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Units 800 2,000 900 $1,100 2,400 1,100 1,476 200 2,360 Percent Complete as to Conversion Costs 70% 30% 90% Manufacturing overhead Production Data-Soccer Balls Work in process inventory units, August 1 Units started into production Work in process inventory units, August 31 Cost Data-Soccer Balls Work in process inventory, August 1 Costs added during August Direct materials Direct labour Manufacturing overhead (a) 1,476 200 2,360 200 $480 3,776 990 2,460 Your answer has been saved. See score details after the due date. 90% 60% Prepare a production cost report for the month of August for the hockey pucks only. (Round unit costs to 3 decimal places, e.g. 15.251 and other answers to the nearest whole dollar, e.g. 5,275.) Quantities to be accounted for Work in process inventory, August 1 Started into production Total units to be accounted for accounted for Completed and transferred out Work in process inventory, August 1 SANDHILL COMPANY Production Cost Report-Hockey pucks Physical Units Equivalent Units of Production Materials Conversion Co accounted for Completed and transferred out Work in process inventory, August 1 Started and completed Work in process inventory, August 31 Total units costs Costs in August Equivalent units of production Unit costs Reconciliation Schedule to ho accounted for Reconciliation Schedule. to be accounted for Work in process inventory, August 1 Added into production Total costs to be accouned for accounted for Completed and transferred out Work in process inventory, August 1 Conversion costs to complete beginning inventory Started and completed in process inventory, August 31 Materials
Expert Answer:
Answer rating: 100% (QA)
ANSWER I STATEMENT OF EQUIVALENT PRODUCTION HOCKEY PUCKS INPUT INPUT OUTPUT OUTPUT EQUIVALENT PRODUC... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Posted Date:
Students also viewed these accounting questions
-
Maloney Company manufactures hockey pucks and soccer balls. For both products, materials are added at the beginning of the production process and conversion costs are incurred uniformly. Maloney uses...
-
Jessica Company manufactures hockey pucks and soccer balls. For both products, materials are added at the beginning of the production process and conversion costs are incurred evenly. Jessica uses...
-
Question 1 Robert Mallory has prepared the following list of statements about process cost accounting. Identify each statement as true or false. 1. 8. 9 10. Process cost systems are used to apply...
-
Adam Hoover bought 72 shares of General Oil Co. stock at a par value of $85 per share. The stock paid annual dividends of 7 1/2%. How much did Adam receive in dividends this year? Commissions 0. Mrs....
-
A solid sphere of radius R carries a charge density 0 in the region r = 0 to r = R s and an equal charge density of opposite sign, + 0 , between r = R s and r = R. The net charge carried by the...
-
Using the declarations: int b = 7 int m = 9 a) Demonstrate that attempting to do algebraic multiplication by placing the variable names next to one another as in bm doesnt work in Java. b)...
-
The following are financial data taken from the 2015 annual report of Pfizer, Inc: Calculate the following ratios for 2015 and 2014: intangible asset turnover, fixed asset turnover, accumulated...
-
1. What are the main arguments that you will need to counter? That is, what are the reasons and rationalizations you will need to address? 2. What is at stake should you not convince King Bernard to...
-
) In recent years, consulting has been the fastest growing revenue source for the largest audit firms. Discuss whether you believe the growth in consulting improves or negatively impacts audit quality
-
Quantitative Problem: Sunshine Smoothies Company (SSC) manufactures and distributes smoothies. SSC is considering the development of a new line of high-protein energy smoothies. sSC's CFO has...
-
Jeff's Widget Corporation produces and sells a part used in the production of bicycles. The unit costs associated with this part are as follows: Direct Materials $0.14 Direct labor 0.30 Variable...
-
Solve the following logarithmic equation. log x + 48x = V 23
-
8. (a) What is circular motion? (b) Give three examples of circular motion. 9. An object moves from one point to another along a circular path with a radius of 5 m. If the angle between the two...
-
Choose the stance against government intervention in foreign trade: Provide a stance (based on your last name)that argues either for or against government intervention in foreign trade. Describe both...
-
You work at a hospital as a Food Service manager and a patient, Mary, has been given a diet order for a pureed diet with moderately thickened liquids. a) How would you modify the hospital menu below...
-
6. (15%) Consider the nested loops shown below, where N is assumed to be a power of 2, i.e., N = 2k for some positive integer k. i=N; while (i>= 1) { j= i; while (j
-
Use Fibonacci search method to find the minimum of the function given by F(x) = x+10x-5x2 Use the values of a 0,b=3, n = 5.
-
Explain the operation of the dividends received deduction.
-
If a companys revenues are $125,000 and its expenses are $113,000, in which financial statement columns of the worksheet will the net income of $12,000 appear? When expenses exceed revenues, in which...
-
On May 10, Chen Corporation issues 2,000 shares of $6 par value common stock for cash at $13 per share. Journalize the issuance of the stock.
-
The net income for Lodi Ltd. for 2020 was 250,000. For 2020, depreciation on plant assets was 65,000, and the company incurred a gain on disposal of plant assets of 12,000. Compute net cash provided...
-
If the first of three slices of pizza generates 24 utils and four slices of pizza generate 28 utils, then the marginal utility of the fourth slice of pizza is _________ utils.
-
_________ utility is the extra satisfaction generated by an additional unit of a good that is consumed in a given time period.
-
To reach _________, consumers must allocate their incomes in such a way that the marginal utility per dollars worth of any good is the same for every good.
Study smarter with the SolutionInn App