Compute for the equivalent production in each of the following using: (1) FIFO, and (2) weighted...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Compute for the equivalent production in each of the following using: (1) FIFO, and (2) weighted average. 1. Even application of cost In process, Jan. 1.... Started in process... In process, Jan. 31.. 2. Even application of cost Exercise 12-3 Received from preceding department.. In process, end.. Transferred out... In process, beginning.... 3. Materials are added at the start of the process In process, beginning..... In process, end...... Received from preceding department... 5. Abnormal loss of 4,000 units discovered at the end of the process In process, beginning........ Received from preceding department... In process, end... 6. Normal loss of 10,000 units discovered when 50% completed Transferred out... In process, beginning. In process, end.. 7. 4. An increase of 20% occurs at the start of the process upon addition of materials In process, beginning... Received from preceding department.. In process, end.. Dept. B 6,000 units.. 20%.. 2... 2,000 units In process, beginning.... Stage of completion..... Received from preceding department.......... Abnormal loss discovered at the end.. Normal loss discovered when 40% completed.. ..6,000 units, 2/3 completed 50,000 units 10,000 units, 4/5 completed ***** ..160,000 units 20,000 units, 4/5 completed 150,000 units ? units, 3/5 completed 12,000 units, 2/3 converted 4,000 units, 1/8 converted 100,000 units 14,000 units, 2/7 completed ..40,000 units .18,000 units, completed 24,000 units, 1/5 completed .100,000 units 18,000 units, completed 90,000 units 20,000 units, 40% completed 18,000 units, 70% completed Dept. C ........12,000 units .30% 80,000 units 6,000 units In process, end...... Stage of completion.... Finished and transferred.. …... Dept. B 10,000 units......... 40%............ ?................. Dept. C ? 25% 70,000 units In Dept. B, materials are added at the start of the process. In Dept. C, factory costs are applied evenly throughout the process. Compute for the equivalent production in each of the following using: (1) FIFO, and (2) weighted average. 1. Even application of cost In process, Jan. 1.... Started in process... In process, Jan. 31.. 2. Even application of cost Exercise 12-3 Received from preceding department.. In process, end.. Transferred out... In process, beginning.... 3. Materials are added at the start of the process In process, beginning..... In process, end...... Received from preceding department... 5. Abnormal loss of 4,000 units discovered at the end of the process In process, beginning........ Received from preceding department... In process, end... 6. Normal loss of 10,000 units discovered when 50% completed Transferred out... In process, beginning. In process, end.. 7. 4. An increase of 20% occurs at the start of the process upon addition of materials In process, beginning... Received from preceding department.. In process, end.. Dept. B 6,000 units.. 20%.. 2... 2,000 units In process, beginning.... Stage of completion..... Received from preceding department.......... Abnormal loss discovered at the end.. Normal loss discovered when 40% completed.. ..6,000 units, 2/3 completed 50,000 units 10,000 units, 4/5 completed ***** ..160,000 units 20,000 units, 4/5 completed 150,000 units ? units, 3/5 completed 12,000 units, 2/3 converted 4,000 units, 1/8 converted 100,000 units 14,000 units, 2/7 completed ..40,000 units .18,000 units, completed 24,000 units, 1/5 completed .100,000 units 18,000 units, completed 90,000 units 20,000 units, 40% completed 18,000 units, 70% completed Dept. C ........12,000 units .30% 80,000 units 6,000 units In process, end...... Stage of completion.... Finished and transferred.. …... Dept. B 10,000 units......... 40%............ ?................. Dept. C ? 25% 70,000 units In Dept. B, materials are added at the start of the process. In Dept. C, factory costs are applied evenly throughout the process.
Expert Answer:
Answer rating: 100% (QA)
Answer compute for the equivalent production using FIFO and weighted average methods we need to consider the stage of completion of the units in process at the beginning and end of the period Lets cal... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
At mixing department, all materials are added at the beginning of the process. Lahore and overhead (conversion resources) are added evenly throughout the process. The following information pertains...
-
For Tuba Corp, materials are added at the start of the process inDepartment B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were...
-
Compute the multiplier in each of the following cases: (a) MPC = 0.60; (b) MPC = 0.80; (c) MPC = 0.50.
-
An electron experiences the greatest force as it travels 2.9 X 106 m/s in a magnetic field when it is moving north-ward. The force is upward and of magnitude 7.2 X 10-13N. What are the magnitude and...
-
Why can it be said that transcription of the bacteriophage T7 genome requires two enzymes?
-
Let T: P2 P2 be a linear transformation for which T(l) = 3 - 2x, T(x) = 4x - x2, and T(x2) = 2 + 2x2 Find T(6 + x - 4x2) and T(a + bx + cx2).
-
Describe advances in medicine that have contributed to improving the quality of patient care.
-
In a large department store a customer-complaints office handles an average of six complaints per hour about the quality of service. The distribution is Poisson. a. What is the probability that in...
-
The one year interest rate over the next ten years will be: 5%, 6%, 7%, 8.5%, 9.5%, 10%, 10.5%, 11%, 12%, and 13%. Using the expectations theory, what will be the interest rates on a two -year bond,...
-
Retro Productions Ltd. is a Vancouver-based furniture manufacturer. The company reported the following information on its trial balance for 11 months of the year ended November 30, 2018. Retro...
-
Boots is a UK drugstore company. The annual demand for its own brand shampoo in the largest Boots store is normally distributed with a mean of 145,600 units, and a standard deviation of 53,248 units....
-
Go to the online retailer of your choice and search for evaluations for the product/brand you chose for the IMC project. Provide a summary of your findings (e.g,, 90% 5*, 10% 1*) and a few salient...
-
Please make a content about birkin bag of the Hermes brand base of 1. Gives overview of the business/marketing situation for the content 2. Describes what the brand sells that the content supports 3....
-
Discussion 10: Read the article below: Sec7-Ch51-Feygin-Vincent-Li-Lala-Scarcella.pdf (live-future-of-building-wealth.pantheonsite.io) And create your own proposal to ... more equitable distribution...
-
In your replies name one idea you have for a marketing communication channel that could help support brand loyalty to your peers' preferred brands, and explain why. A Brand that I am loyal to is...
-
What is the future of strategic communications/public relations? Where is it headed? Explain. What is influencer marketing and why is it so important to marketers? Why is it important for marketers...
-
Consider the Orderable interface and the partial implementation of the Temperature class defined below: public interface Orderable { { / * * / * * Returns 1 , 0 , - 1 , 0 , or 1 1 depending on...
-
The landing gear of an aircraft with: mass of 2000 kg the spring-mass-damper system Consider that the runway surface is y(t) = 0.2 cos 157.08t stiffness of the spring is 5 x 105 N/m. What is the...
-
Evaluate each of the following proposals for reform in terms of the material discussed in this chapter: (a) Linking all spending programs to visible tax hikes (b) A balanced-budget amendment...
-
What does stagflation look like in a diagram with the unemployment rate on the horizontal axis and the inflation rate on the vertical axis?
-
The firms objective is to maximize profit. 1. Explain what the difference between accounting profit and economic profit is. 2. Define normal profit.
-
Diehl Cleaners has the following statement of financial position items. Instructions Classify each item as an asset, liability, or equity. Analyze the effect of transactions. Accounts payable Cash...
-
Erin Danielle, the bookkeeper for Liverpool Ltd., has been trying to determine the correct statement of financial position for the company. The companys statement of financial position is shown...
-
Which of the following is true? a. Financial frauds have not occurred in U.S. companies because GAAP has detailed accounting and disclosure requirements. b. Transaction analysis is basically the same...
Study smarter with the SolutionInn App