Snapshot. Inc. manufactures digital cameras. It has two departments: assembly and testing. In January 2020, the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Snapshot. Inc. manufactures digital cameras. It has two departments: assembly and testing. In January 2020, the company incurred $700,000 on direct materials and $815.000 on conversion costs, tor a total manufacturing cost of $1,515,000, Read the reguirements. Requirement 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January. 10,000 cameras were placed into production and all 10,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? (Round your answers to the nearest cent) Assembly department cost per unit 151.50 Requirement 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are alse incurred in February, but only 8,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2,000 cameras. However, on average, these remaining 2,000 cameras are only 60% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 20207 (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? First calculate the equivalent units. Equivalent Units Direct Materials Conversion Costs Work done in current period 10,000 9,200 Now calculate the direct materials and conversion costs per equivalent unit for Fetruary. (Round your answers lo the nearest cent.) Direct Materials Conversion Costs Cost per equivalent unit Requirements 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January, 10,000 cameras were placed into production and all 10,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February. but only 8,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2.000 cameras. However, on average, these remaining 2,000 cameras are only 60% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (D) What is the unit cost of an assembled cameras in February 2020? 3. Explain the difference in your answers to requirements 1 and 2 Print Done Snapshot. Inc. manufactures digital cameras. It has two departments: assembly and testing. In January 2020, the company incurred $700,000 on direct materials and $815.000 on conversion costs, tor a total manufacturing cost of $1,515,000, Read the reguirements. Requirement 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January. 10,000 cameras were placed into production and all 10,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? (Round your answers to the nearest cent) Assembly department cost per unit 151.50 Requirement 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are alse incurred in February, but only 8,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2,000 cameras. However, on average, these remaining 2,000 cameras are only 60% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 20207 (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? First calculate the equivalent units. Equivalent Units Direct Materials Conversion Costs Work done in current period 10,000 9,200 Now calculate the direct materials and conversion costs per equivalent unit for Fetruary. (Round your answers lo the nearest cent.) Direct Materials Conversion Costs Cost per equivalent unit Requirements 1. Assume there was no beginning inventory of any kind on January 1, 2020. During January, 10,000 cameras were placed into production and all 10,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February. but only 8,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2.000 cameras. However, on average, these remaining 2,000 cameras are only 60% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (D) What is the unit cost of an assembled cameras in February 2020? 3. Explain the difference in your answers to requirements 1 and 2 Print Done
Expert Answer:
Answer rating: 100% (QA)
Requirument 1 has aluady been julyilled 1515000 15150 100... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these organizational behavior questions
-
Puzzle Me Company manufactures puzzles. It has two production departments Assembly and Finishing Department. The direct materials for the assembly department are added at the beginning of the...
-
? Hardwick Manufacturing manufactures a single product that it will sell for $91 per unit. The company is looking to project its operating income for its first two years of operations. Cost...
-
Norton Parts, Inc., manufactures tenders for mobile processes: Each fender passes through three processes: Molding, Drilling, and Painting. In March, the Molding Department of the Detroit plant...
-
What are the different relays that employed for protection of apparatus and transmission lines?
-
Suppose that sunlight falls both on a pair of reading glasses and on a pair of dark sunglasses. Which pair of glasses would you expect to become warmer? Defend your answer.
-
Renaldo gets paid once a month and contributes $350 each pay period into his 401(k). If Renaldo plans on retiring in 20 years, what will be the value of his 401(k) if the per annum rate of return of...
-
In a single stage steam turbine saturated steam at 10 bar is supplied through a convergent divergent steam nozzle of \(20^{\circ}\) angle. The mean blade speed is \(400 \mathrm{~m} / \mathrm{s}\)....
-
Vern Westby inherited a ticket from Anna Sjoblom, a survivor of the sinking of the Titanic, which had been pinned to the inside of her coat. He also inherited an album of postcards, some of which...
-
Smart Technology Company had the following information during the previous year for one of its product lines: Sales Price per Unit $6000 Units in Beginning Inventory 0 Units Started During the Year...
-
City Tours Ltd. needs to update the database on a regular basis. As a customer service manager for the company, you need to add new customers and confirmations, update basic costs, delete...
-
For Problems 1 and 2: Suppose an organizational talent manager and/or trainer is interested in studying the relationship between the quality of a lesson and/or training as a function of mode of...
-
a response to A cost-benefit analysis is a financial instrument used to determine the economic viability of a proposed solution. It entails quantifying both the costs and advantages of each proposal....
-
A list of budgets used to predict the sales budget and end with the cash budget and financial statement budgets is called?
-
What risks do organizations face? List five risks, preferably ones that have not yet been posted by others, that present challenges to organizations. For each of the risks, draft a sentence or two on...
-
What are the benefits and risks of an integrating social and environmental data into annual financial reports, versus a separate report for Social and Environmental issues?
-
What is the purposes of an "Internal Factor Evaluation (IFE) Matrix"? Using the company you selected (Walmart), identify organization's internal one (1) strength and one (1) weakness . And cite your...
-
Outsourced systems: (S) LO2) a) Eliminate the need for the employer to have knowledgeable payroll staff' b) Transfer all compliance responsibility from the employer to the service provider c) Reduce...
-
Research corporate acquisitions using Web resources and then answer the following questions: Why do firms purchase other corporations? Do firms pay too much for the acquired corporation? Why do so...
-
Krantz Company pays salaries of $15,000 every Monday for the preceding 5-day week (Monday through Friday). Assume December 31 falls on a Tuesday, so Krantzs employees have worked 2 days without being...
-
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $180,000. At December 31, Helbert declared and paid a $60,000 cash dividend and reported net income of $200,000....
-
Panza Corporation experienced a fire on December 31, 2020, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following...
-
When managers use offers of rewards and threats of punishments to try to get others to do what they want them to do, they are using which type of power? (a) formal authority (b) position (c) referent...
-
In the research on leader behaviors, which style of leadership describes the preferred high-high combination? (a) transformational (b) transactional (c) laissez-faire (d) democratic
-
How is a person with an authoritarian personality expected to act? (a) Strong tendency to obey orders. (b) Challenges the authority of others. (c) Tries to play down status differences. (d) Always...
Study smarter with the SolutionInn App