Assume that beginning work in process consists of 900 units valued at $11,334 ($5,300 are materials)....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Assume that beginning work in process consists of 900 units valued at $11,334 ($5,300 are materials). The units are 40% complete as to conversion costs. Materials costs are unchanged, labor costs are $124.460 and manufacturing overhead costs are $44.100. Determine the equivalent units of production for materials and conversion costs. Compute unit costs and show the assignment of manufacturing costs to units transferred out and in work in process, (Round unit costs to 2 decimal places, eg 15,25 and final answers to O decimal places, e.g. 125) Material costs Conversion costs Total unit costs Costs accounted for: Work in process, November 1st Materials Conversion Costs Transferred out Work in process, November 30th Materials Conversion Costs Total costs Sheridan Company Cost Reconciliation Schedule s 10 Assume that beginning work in process consists of 900 units valued at $11,334 ($5,300 are materials). The units are 40% complete as to conversion costs. Materials costs are unchanged, labor costs are $124.460 and manufacturing overhead costs are $44.100. Determine the equivalent units of production for materials and conversion costs. Compute unit costs and show the assignment of manufacturing costs to units transferred out and in work in process, (Round unit costs to 2 decimal places, eg 15,25 and final answers to O decimal places, e.g. 125) Material costs Conversion costs Total unit costs Costs accounted for: Work in process, November 1st Materials Conversion Costs Transferred out Work in process, November 30th Materials Conversion Costs Total costs Sheridan Company Cost Reconciliation Schedule s 10
Expert Answer:
Answer rating: 100% (QA)
Given Beginning work in process 900 units Material cost 5300 Conversion cost 124460 labor 44100 overhead Units are 40 complete as to conversion costs ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Chef Gordon Whimsey is debuting a new food truck in the plaza downtown. He will be one of five food trucks in the area. At first, he doesn't expect to grow the market, so he will have to take sales...
-
What is the production cost report using FIFO? Sharpe Flavored Water Company The Sharpe Flavored Water Company makes high quality Flavored Water. Management is ready to close the books for the end of...
-
A bond has an annual coupon of 5%, which makes semiannual payments. The next payment is 3 months away. The bonds quoted price is 105.1 with par of $1000, what is the bond's dirty price? (Please use...
-
Use a linear interpolation to estimate properties of ammonia to fill out the table below P [kPa] T [ C] v [m3/kg] x a) 550 0.75 b) 80 20 c) 10 0.4
-
A computed A will be converted into B in a stirred tank reactor. The product B and unreacted A are purified in a separation unit. Unreacted A is recycled to the rector. A process engineer has found...
-
A standard 90 elbow is being used in a 8-nom commercial steel pipe. The joint between the pipe and elbow is flanged. Under a fully turbulent flow condition, the loss coefficient for the elbow is...
-
Using only the factor formulas given in Table 2.6, derive Equation 7.6 starting with Equation 7.3. TABLE 2.6 Summary of Discrete Compounding Interest Factors. To Find Given Factor Symbol Name P F...
-
Bill's Barbershop has two barbers available to cut customers' hair. Both barbers provide roughly the same experience and skill, but one is just a little bit slower than the other. The process flow in...
-
What is the central concept in urban economics that says people/businesses being physically next together increases overall productivity? Why does it increase productivity?
-
A. Compute the mean return and variance of return for each stock in Problem 1 using (1) The single-index model (2) The historical data In Problem 1 B. Compute the covariance between each possible...
-
Many good students spontaneously organize information as they learn it, and such learner generated organization can be quite effective Select one: a. visual imagery b. elaboration c. meaningful...
-
How do quantitative genetics approaches, such as heritability estimation, quantitative trait loci (QTL) mapping, and genome-wide association studies (GWAS), enable the dissection of complex traits...
-
"How does the concept of social integration serve a pivotal role within functionalist theory, and how do proponents of functionalism scrutinize the mechanisms by which societal institutions and norms...
-
How do circadian rhythms, governed by the central circadian clock and peripheral oscillators within endocrine tissues, regulate the temporal patterns of hormone secretion, tissue responsiveness, and...
-
what ways does the endocrine system interact with other physiological systems, including the nervous system, immune system, and reproductive system, to coordinate complex physiological responses,...
-
Find the equation of a line with the slope m = -4 and containing the point (3,-9). Write the equation in slope-intercept form.
-
Problem 1 (25 Points) Manufacturers.inc has the following production function that represents the available tech- nology to mix capital (K) and labor (L) (their only two inputs): q(L,K) = L/K/ in the...
-
The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books: Accounts...
-
Strum Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Claire Strum, the company's sales...
-
At the monthly management meeting, Leslie Smith, president of Mama Fran's Fantastic Foods, was reviewing the April budget report with some satisfaction. "Our actual results are never exactly what we...
-
Lucy Sportswear manufactures a line of specialty T-shirts using a job order costing system. In March the company incurred the following costs to complete Job ICU2: direct materials, $13,700, and...
-
A particle is accelerated such that its position as a function of time is given by \(\vec{x}=b t^{3} \hat{t}\), with \(b=1.0 \mathrm{~m} / \mathrm{s}^{3}\). What is the particle's acceleration as a...
-
A particle moves in the \(x\) direction according to the equation \(x(t)=b t^{3}+c t^{2}+d\), where \(b=4.0 \mathrm{~m} / \mathrm{s}^{3}\), \(c=-10 \mathrm{~m} / \mathrm{s}^{2}\), and \(d=20...
-
The position of a cart on a low-friction track can be represented by the equation \(x(t)=b+c t+e t^{2}\), where \(b=4.00 \mathrm{~m}, c=6.00 \mathrm{~m} / \mathrm{s}\), and \(e=0.200 \mathrm{~m} /...
Study smarter with the SolutionInn App