Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. Because
Fantastic news! We've Found the answer you've been seeking!
Question:
Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average.
Transcribed Image Text:
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning Units in process Stage of completion for materials Stage of completion for conversion cost Costs in work in process inventory: Materials Labor Overhead Total costs in beginning work in process 24,200 80% 30% $169,120 67,220 17,330 $253,670 Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning Units in process Stage of completion for materials Stage of completion for conversion cost Costs in work in process inventory: Materials Labor Overhead Total costs in beginning work in process 24,200 80% 30% $169,120 67,220 17,330 $253,670
Expert Answer:
Answer rating: 100% (QA)
Calculate the total equivalent units for materials and conversion costs using the FIFO m... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these...
-
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these...
-
Because most of the parts for Waterways' drainage and irrigation systems are standard, the company uses a process cost system for most of its manufacturing. Its recent contract to upgrade the...
-
A coil of wire 0.1 m long and having 15 turns carries a current of 1.0 A. (a) Compute the flux density if the coil is within a vacuum. (b) A bar of an iron-silicon alloy, the B-H behavior for which...
-
Use the financial statements of Wins Companies in Short Exercise 15-5. Requirements 1. Compute the debt ratio and the debt to equity ratio at May 31, 2012. 2. Is Wins ability to pay its liabilities...
-
Jerrico Wallboard Co. had a beginning inventory of 7,000 shoes on January 1, 2015. The costs associated with the inventory were as follows: Material ....................... $9.00 per shoe Labour...
-
The rectangular wooden column can be considered fixed at its base and pinned at its top. Also, the column is braced at its mid height against the weak axis. Determine the maximum eccentric force...
-
Tuen and Associates wants to buy an automated coffee roaster/grinder/brewer. This piece of equipment would have a useful life of six years, would cost $190,000, and would increase annual net cash...
-
Kelly just turned age 28 and opened a TFSA account. For her birthday, her grandparents contributed $10,000 to the account. Kelly plans to contribute $500 on the first of each month to the account,...
-
Using the information presented in Problem 13.4B, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities using the...
-
1. You are provided with the following data on the return to the stock of XYZ Corporation (XYZ_R), return to market index (Market R), and risk-free government bond (Bond R) for the past 10 years....
-
As shown below, a 48 kg bar that is 3.4 m long is set up to rotate about its center (the yellow circle). Force B is acting 79 cm from the left end of the bar. Express each answer using appropriate...
-
Five Styrofoam balls are suspended from insulating threads. Several experiments are performed on the balls and the following observations are made: Ball B attracts D and repels E. Ball C attracts D...
-
An electron is described by the 1D wave function: (x) = 8 < : 0 for x < 0 p 12a (e????ax ???? e????2ax) for x > 0 (1) where a is a real constant with dimensions m????1 (i) What is the probability of...
-
You are a maintenance technician in the gum wrapping section for eclipse gum and the machines you are responsible for fixing work seamlessly compared to the ones in the gum-making section. you...
-
A change in temperature of 50 C is equal to a change of O 50 K 100 K O273 K 373 K
-
Harold rents a car from Hertz Car Rental in Texas for one week, pursuant to a contract containing an arbitration clause. Harold drives the car to Arizona and while in Arizona the tire on the car...
-
Find the reduced echelon form of each of the matrices given in Problems 120. c 1 26 + 4
-
Presented below are two independent situations. 1. Sunny Isles Car Rental leased a car to Emmaus Company for one year. Terms of the operating lease agreement call for monthly payments of $500. 2. On...
-
Identify the specific sections in PepsiCos 2009 annual report where horizontal and vertical analysis of financial data are presented.
-
How should mixed costs be classified in CVP analysis? What approach is used to determine the appropriate classification?
-
If a random variable has the standard normal distribution, find the probability that it will take on a value (a) less than 1.75 ; (b) less than -1.25 ; (c) greater than 2.06 ; (d) greater than -1.82 .
-
The nozzle of a mixing vibrator is tested for its number of vibrations. The vibration frequency, for each nozzle sample, can be modeled by a normal distribution with mean 128 and standard deviation...
-
If a random variable has the standard normal distribution, find the probability that it will take on a value (a) between 0 and 2.3 ; (b) between 1.22 and 2.43 ; (c) between -1.45 and -0.45 ; (d)...
Study smarter with the SolutionInn App