The Sherron Processing Company had work in process at the beginning and end of March 2017...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The Sherron Processing Company had work in process at the beginning and end of March 2017 in its Painting Department as follows: (Click the icon view the work-in-process information.) The company completed 100,000 units during March. Manufacturing costs incurred during March were direct materials costs of $210,000 and conversion costs of $300,000. Inventory at March was carried at a cost of $40,000 (direct materials-$30,000 and conversion costs-$10,000). Assuming Sherron uses FIFO costing, determine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in ending inventory. Begin by entering the physical units in first, then calculate the equivalent units. Flow of Production Work in process, beginning Started during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Equivalent unts of work done in current period Physical Units Data table March 1 (10,000 units) March 31 (10,000 units) Percentage of Completion Direct Materials Print 40% 90% Conversion Costs Done 20% 20% The Sherron Processing Company had work in process at the beginning and end of March 2017 in its Painting Department as follows: (Click the icon view the work-in-process information.) The company completed 100,000 units during March. Manufacturing costs incurred during March were direct materials costs of $210,000 and conversion costs of $300,000. Inventory at March was carried at a cost of $40,000 (direct materials-$30,000 and conversion costs-$10,000). Assuming Sherron uses FIFO costing, determine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in ending inventory. Begin by entering the physical units in first, then calculate the equivalent units. Flow of Production Work in process, beginning Started during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Equivalent unts of work done in current period Physical Units Data table March 1 (10,000 units) March 31 (10,000 units) Percentage of Completion Direct Materials Print 40% 90% Conversion Costs Done 20% 20%
Expert Answer:
Answer rating: 100% (QA)
Beginning inventory in physical units Direct materials 30000 Conversion 1... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The company completed 14,000 units during March. Manufacturing costs incurred during March were direct materials costs of $200,000 and conversion costs of $300,000. Inventory at March 1 was carried...
-
The balance sheets at the beginning and end of the most recent fiscal year of a manufacturing company in the northern part of the country are shown below. During that fiscal year, the company earned...
-
The balance in beginning Work in Process at Bing Rubber Company for direct labor was $140,000.During the month of March, an additional $700,000 of direct labor was incurred, and 30,000 pounds of...
-
1. Is religious training mandatory at all of the schools in question? 2. Does the Court see inevitable church-state entanglements if the Board were allowed to exercise jurisdiction over teachers in...
-
Define promoter region and list three of its properties.
-
A contract offers $25 000 immediately and $50 000 in 5 years or $10 000 at the end of each year for 10 years. If money is worth 6%, which offer is preferable?
-
An article in the Journal of Pharmaceutical Sciences \((\mathbf{8 0}, 971-977,1991)\) presents data on the observed mole fraction solubility of a solute at a constant temperature, along with...
-
Based upon the data presented in Exercise 2-13, (a) Prepare an unadjusted trial balance, listing the accounts in their proper order. (b) Based upon the unadjusted trial balance, determine the net...
-
Peanut Corporallon exchanged land and cash of $6,500 for equipment the land had a book value of $34.000 Accurn - ilue exchange has commerdal substance.\ Required:\ Note: if no of-equired for o...
-
Jackson et al. (1987) compared the precision of systematic and stratified sampling for estimating the average concentration of lead and copper in the soil. The 1-km2 area was divided into 100-m...
-
Using your knowledge of perturbation theory, predict the changes in the wave function and energies for the following modified particle-in-a-box systems with the given wave function ; in the figures....
-
Assuming that an alpha particle with a kinetic energy of 25 keV is trapped in an element with a very high mass number, a) Find the mass number of this element by rounding to a whole number. b)...
-
A spherical shell contains three charged objects. The first and second objects have a charge of -15.0 nC and 38.0 nC, respectively. The total electric flux through the shell is -323 N.m/C. What is...
-
An object slows from an initial rate of 30 rad/s at a rate of -0.6 rad/s. a) How long does it take for the object to come to rest? b) What is the angular displacement of the object? c) How many...
-
A charge +q is located at 3.000 cm, a second charge -2q is located at 8.000 cm, and a third charge +q is located at 11.00 cm. The magnitude of q is 2.450 C. + +q 5.000 -29 What is the force F, on the...
-
= There are two identical, positively charged conducting spheres fixed in space. The spheres are 38.0 cm apart (center to center) and repel each other with an electrostatic force of F 0.0780 N. A...
-
For a residential building project, the developer has estimated the capital investment, net rental revenue, and resale value after 6 years for the following three scenarios. Given the developer's...
-
Refer to Exercise 8.S.I. Construct a scatterplot of the data. Does the appearance of the scatterplot indicate that the pairing was effective? Explain. Exercise 8.S.I. A volunteer working at an animal...
-
Lancer Audio produces a high-end DVD player that sells for $1,300.Total operating expenses for the past 12 months are as follows: Required a. Use regression analysis to estimate fixed and variable...
-
List three turnover ratios, and discuss how these ratios are used to assess a companys performance.
-
He formed the company in 1991 to manufacture custom built aluminum storm windows for sale to contractors in the greater Chicago area. Since that time the company has experienced tremendous growth and...
-
We can model a small merry-go-round as a uniform circular disk with mass 88 kg and diameter 1.8 m. How many 22 kg children need to ride the merry-go-round, standing right at the outer edge, to double...
-
The lightweight wheel on a road bike has a moment of inertia of 0.097 kg m 2 . A mechanic, checking the alignment of the wheel, gives it a quick spin; it completes 5 rotations in 2.0 s. To bring the...
-
A man in a barrel walking competition is moving along smoothly, with his barrel moving forward at 1.0 m/s. a. Think about how the man moves his legs. Is he walking forward or backward? b. From the...
Study smarter with the SolutionInn App