The Rest-a-Lot chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Rest-a-Lot chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 75.000 chairs. During the month the firm completed 80.000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10.000 chairs in ending inventory. There were 15.000 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Rest-a-Lot. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 80% complete as to conversion costs. Beginning inventory Direct materials Conversion costs $24,000 $35,000 Manufacturing costs added during the accounting period. Direct materials Conversion costs $168,000 $278,000 What were the equivalent units for conversion costs during February? 85,000 Ⓒ75,000 83.500 79.500 The Rest-a-Lot chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 75.000 chairs. During the month the firm completed 80.000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10.000 chairs in ending inventory. There were 15.000 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Rest-a-Lot. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 80% complete as to conversion costs. Beginning inventory Direct materials Conversion costs $24,000 $35,000 Manufacturing costs added during the accounting period. Direct materials Conversion costs $168,000 $278,000 What were the equivalent units for conversion costs during February? 85,000 Ⓒ75,000 83.500 79.500
Expert Answer:
Answer rating: 100% (QA)
Solution Requirement What the equivalent units for conversion c... View the full answer
Related Book For
Project Management A Managerial Approach
ISBN: 978-0470226216
7th Edition
Authors: Jack R. Meredith, Samuel J. Mantel,
Posted Date:
Students also viewed these accounting questions
-
Explain why cost of goods sold should be lower if manufacturing overhead is overallocated. Should operating income be higher or lower if manufacturing overhead is overallocated? Why?
-
Building a Balance Sheet Rose, Inc., has current assets of $7,300, net fixed assets of $25,200, current liabilities of $5700, and long-term debt of $12,900. What is the value of the shareholders...
-
Also prepare a balance sheet for them as of September 1, 2020 assuming the following information that Mary has gleaned from bank and investment account statements, life insurance contracts, a...
-
Horizontal analysis (trend analysis) percentages for Epstein Companys sales, cost of goods sold, and expenses are shown below. Did Epsteins net income increase, decrease, or remain unchanged over the...
-
Define alien software, and explain why it is a serious problem.
-
A frictionless planar curve is in the shape of a function which has its endpoints at the same height but is otherwise arbitrary. A chain of uniform mass per unit length rests on the curve from end to...
-
An effective way to learn how companies respond to the competing pressures to be globally integrated and locally responsive is to study them in action. Referring back to Exhibit 6.3, search online...
-
Shao Airlines is considering two alternative planes. Plane A has an expected life of 5 years, will cost $100 million, and will produce net cash flows of $30 million per year. Plane B has a life of 10...
-
At the conclusion of a second-year practical session, two groups of students engage in a heated debate. Group A students are certain that their results (Table 1) are statistically comparable to those...
-
The Bellow Trust has the following activities during Year 2. Dividend Income $100,000 Tax-Exempt Interest Income $15,000 Recognized Long-Term Capital Gain, allocated by trust agreement to income...
-
Describe, qualitatively, what happens in a distillation column during cold startup (operating under total reflux). Assume that, during start-up, the column is operated with no distillate draw, and...
-
Mr. Longwood paid interest in 2023 as follows: ABC Bank (personal car loan) 1,000 ABC Bank (mortgage of $1,250,000 to purchase principal residence in 2022) 50,000 TD Ameritrade (Investment Interest)...
-
On October 1, 2026, Bella Company took a cash loan for $59,000 by signing a 6month, 2% Note Payable. Interest was accrued on December 31, 2026. What is the journal entry on maturity date when the...
-
John is employed by 3M and they have a defined benefit pension (DB pension) and a deferred profit-sharing pension (DPSP). The pension pays a 1.3 % credit per year of service. John and 3M contribute...
-
Glory Pte Ltd grants 14 days of annual leave to its employees and unused annual leaves can be carried forward to the following year. Employees will consume the carried forward annual leaves first...
-
Calculate the ROI: The Sun-glass Sisters company is considering building a new building. They believe the new building will save them $50,000 each year in rent. To build the building, however, they...
-
Mountain, Inc. and River, Inc. are members of a newly created MAX LLC. Mountain's share of profits, loss and capital of MAX is 40%, 50% and 50%, respectively. River's share of profits, loss and...
-
A survey of 70 college freshmen asked whether students planned to take biology, chemistry, or physics during their first year. Use the diagram to answer each question. How many of the surveyed...
-
What is the objective of interface management?
-
What would you suggest to recover the project?
-
What kinds of resource allocation approaches discussed in the chapter were used in this situation?
-
A leading financial publication reported that the average baby boomer credit user will pay approximately $1,200 in interest annually. If, instead of paying interest, this amount was saved every year,...
-
With the availability of free credit reports, consumers are encouraged to check their report every 4 months-one report from each of the three major bureaus. In the past, consumers also were...
-
Working in a small group, collect credit card marketing information or the summary of account information sent to cardholders for three to five different cards. Be sure to protect the identity of the...
Study smarter with the SolutionInn App