During the month of April, the molding department of Patterson Foundry completed and transferred out 28,000 units.

Question:

During the month of April, the molding department of Patterson Foundry completed and transferred out 28,000 units. At the end of April, there were 10,000 units in process, 60 percent complete. Paterson incurred manufacturing costs totaling $408,000.

Required:

1. Calculate the unit cost.

2. Calculate the cost of goods transferred out and the cost of EWIP.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones of Managerial Accounting

ISBN: 978-0324660135

3rd Edition

Authors: Mowen, Hansen, Heitger

See More Books

Question Posted: Feb 04, 2012 12:36 AM

See More Questions

The following transactions occurred during the month of April for Nelson Company: a. Purchased materials costing $4,610 on account. b. Requisitioned materials totaling $4,800 for use in production,...
The following transactions occurred during the month of April for Olakala Company: a. Purchased materials costing $3,000 on account. b. Requisitioned materials totalling $1,700 for use in production:...
The debits to Work-in Process for Department #2 for the month of April of the current year, together with information conceming production are presented below. All direct materials come from...
Explain (a) the ways to transfer title to personal property, (b) the three elements of a valid gift, and (c) the difference in the laws treatment of abandoned property, lost property, and mislaid...
Jim has decided to contribute some equipment he previously used in his sole proprietorship in exchange for a 10 percent profits and capital interest in Fast Choppers LLC. Jim originally paid $200,000...
You want to have $15 million available when you retire in 40 years (if you think that is exorbitant, wait until you learn about inflation in Chapter 12). If your money can grow in a high-performing...
Which negotiation strategy has the highest risk (possibility of making the customer angry)? Which strategy do you think has the lowest risk (is most effective with customers)?
Black Rose Company has always done some planning for the future, but the company has never prepared a formal budget. Now that the company is growing larger, it is considering preparing a budget....
5. A diesel-driven centrifugal fire pump is rated at 1200 gpm at 100 psi with a churn pressure of 145 psig. Static city pressure varies between 60 and 70 psig. Determine if a relief valve is...
You are the CEO for a small, struggling software firm that produces educational software for high school students. Your latest software is designed to help students improve their SAT and ACT scores....
Thomas Manufacturing produces cylinders used in internal combustion engines. During June, Thomas welding department had the following data: Units in BWIP Units completed 20,000 Units in EWIP (40...
Buckner Enterprises produces premier strawberry jam. Output is measured in pints. Bucker uses the weighted average method. During January, the company had the following production data: Units in...
Your lab instructor has asked you to measure a spring constant using a dynamic methodletting it oscillaterather than a static method of stretching it. You and your lab partner suspend the spring from...
TransTexas Gas Corporation was engaged in [the] exploration, production, and transmission of oil and natural gas. In April 1999, TransTexas fi led for Chapter 11 bankruptcy protection. The...
In the automobile industry, luxury-car customers are considered the most demanding segment of the market with respect to customer service. Jaguar Cars, a division of Ford Motor Co. until 2008, was...
Renee Beaver started racing go-karts competitively in 2007, when she was fourteen. Many of the races required her to sign an exculpatory clause to participate, which she or her parents regularly...
Plaintiff [B-Sharp Musical Productions, Inc.,] and defendant James Haber entered into a contract pursuant to which plaintiff agreed to provide a designated 16-piece band on a specified date to...
The sole issue to be decided in this appeal is the priority of competing liens in and to a manufactured [mobile] home located on, but not attached to, a parcel of real estate which is the subject of...
The measure of forecast error where the amount of error of each forecast is squared and then an average is calculated is mean squared error (MSE). mean absolute deviation (MAD). mean absolute...
You are a Loan Officer with an Investment Bank. Today you need to set your lending parameters. They are: LTV: 55% 10 Year T-Bill: TBD Rate Markup: 300 Basis Points Term: 30 Years Amortization: 30...
Let a 1 , a 2 , a 3 , ..., a n , ... be a geometric sequence. In Problems 15-24, find the indicated quantities. a 8,000; r = 0.4; S10 = ?; S = ?
Fixed cost variances are computed differently from the variances for variable costs. Why?
Fixed cost variances are computed differently from the variances for variable costs. Why?
What is the advantage of preparing the flexible budget? The period is over and the actual results are known. Is this just extra work for the staff?
Use the extension of set-builder notation concepts and the roster method to write the given set. D= {2x-91xE N and x < 5}
Statement of financial position/Balance sheet structure Level of difficulty: Moderate Chugoku Electric Power Company, Inc., was established in 1951 as one of ten electric power companies in Japan. It...
60.Blackstone Company uses a process costing system and has 14,000 units remaining in the work-in-process inventory. These units are 75% and 40% complete with regard to materials and conversions...

During the month of April, the molding department of Patterson Foundry completed and transferred out 28,000 units.

Question:

Step by Step Answer:

1 Equivalent Units Units completed 28000 EWIP 060 10000 6000 E...View the full answer

Cornerstones of Managerial Accounting

Students also viewed these Managerial Accounting questions