Refer to E3-6 for information regarding Silver Company. Required: Complete all requirements for E3-6 using the FIFOmethod.
Question:
Refer to E3-6 for information regarding Silver Company.
Required:
Complete all requirements for E3-6 using the FIFOmethod.
Transcribed Image Text:
Work in process, April 1 (100% complete for materials, 40% for conversion) Direct materials Conversion cost 52,000 units $ 80,000 $110,000 Number of units started 158,000 units April costs Direct materials Conversion cost $226,000 $336,000 Work in process, April 30 (100% complete for materials, 20% for conversion) 80,000 units
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
Req 1 Physical Units Physical Units Beginning Units 52000 Units Completed 130000 a Units Started 158...View the full answer
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Question Posted:
Students also viewed these Managerial Accounting questions
-
Required Using information from Comprehensive Problem 1, complete the requirements assuming a periodic inventory system. In Problem 1 May 1 Issued cheque #3410 to S&M Management Co. in payment of the...
-
Refer to the information in Exercise and complete the requirements for each of the three separate assumptions using the FIFO method for process costing. In Exercise The production department in a...
-
Refer to CP12- 4. Required: Complete requirements 1 and 2 using the direct method. Current Year Previous Year Balance Sheet at December 31 Cash Accounts Receivable Equipment $ 8.000 3,500 10,000...
-
Q1- An engineering student is trying to create a new drivetrain system for his bike, consisting of a pully system. Pully A is connected to pully B by a non-slip belt and pully B is rigidly attached...
-
If a business fails to make payroll deposits, who is held responsible?
-
a. Discuss the difference in the role of the journal and the ledger in capturing accounting information efficiently and effectively. b. Outline the entity concept and how it impacts on the recording...
-
Explain what is meant by the medical record battleground.
-
Severo S.A. of Sao Paulo, Brazil, is organized into two divisions. The company's contribution format segmented income statement (in terms of the Brazilian currency Real) for last month is given...
-
How can companies and marketing teams, in particular, anticipate how AI will impact market research? As AI continues to be developed even further, how do you foresee that it will disrupt the...
-
Using the Web, research the costs associated with the following items when implemented by a firm with 1,000 employees and 100 servers: Managed antivirus software (not open source) licenses for 500...
-
Silver Company manufactures kites and has the following information available for the month of April: Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile...
-
Ridgecrest Company manufactures plastic storage crates and has the following information available for the month of April: Required: Using the weighted-average method of process costing, complete...
-
Explain how a project having a positive net present value will also have a profitability index greater than 1.0.
-
A uniformly charged disk with radius of 3.1 m and net electric charge -5 C is lying in the xy-plane in the presence of the following electric field: 2 E = [(3P)] What is the magnitude of the electric...
-
What are the sources of resistance to change in an organization? How do managers overcome resistance to change?
-
Discuss the general reasons for resistance to change and give an example for each.
-
3. Two positive charges Q1 = 2.5 C and Q2 are placed 6.0 m away from each other. As a result, a 0.009 N electrostatic force is produced between them. What is the magnitude of the charge Q2 in micro...
-
How does diversification and acquisition create value for a company and how can each destroy value for a company? explain
-
A photographer takes passport pictures at an average rate of 20 pictures per hour. The photographer must wait until the customer smiles, so the time to take a picture is exponentially distributed....
-
Archangel Corporation prepared the following variance report. Instructions Fill in the appropriate amounts or letters for the question marks in the report. ARCHANGEL CORPORATION Variance...
-
Research finds that the social elite tend to be omnivorous: They embrace and seek variety in all forms of consumption, from music to food. But being omnivorous is not just happening amongst the...
-
What is meant by the term operating leverage?
-
What is meant by the term operating leverage?
-
In response to a request from your immediate supervisor, you have prepared a CVP graph portraying the cost and revenue characteristics of your companys product and operations. Explain how the lines...
-
It is anticipated that Jack Security will continue to generate $300 in cash flow in the near future. Jack's cost of equity capital is thirty percent, and the company is fully financed by equity. The...
-
A thin coil at the origin of the coordinate system has 1 0 0 turns, radius 1 . 4 cm and current 2 A . the magnetic field due to the coil at points on a circle in the xy plane with radius...
-
Image transcription text Problem 1: Consider the figure below. A block of weight "W? slides on a horizontal surface with a coefficient of Coulomb friction =f". It is attached on its left face to a...
Study smarter with the SolutionInn App