Question: Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started

Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete

Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete Conversion: 20% complete Balance in work in process, August 1 Units started during August Units completed and transferred in August Work in process (70% complete), August 31 Costs charged to Work in Process in August Direct materials Conversion costs: Direct labor Overhead applied Total conversion Assume materials are added at the start of processing. Required: a. Equivalent units b. Cost per equivalent unit a. Calculate the equivalent units for the Forming Department for the month of August. b. Determine the cost per equivalent unit of input resources for the Forming Department during August. Note: Round your answers to 2 decimal places. Direct Materials $ 80,000 24,000 $ 104,000 46,000 60,000 ? Conversion $ 161,000 $ 123,000 140,000 $ 263,000

Step by Step Solution

★★★★★

3.45 Rating (152 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To calculate the equivalent units and cost per equivalent unit for the Forming Department for the mo... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

This learning activity asks for two parts: that you write a letter and a questionnaire, which you will distribute to collect primary data to answer your specific research question(s). This satisfies t

Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...

Dylan purchased 1,000 shares in a start-up company for $45 per share after the stocks Initial Public Offering (IPO). Over the next 3 years, the stock declined at a compound annual rate of 12% each...

Barnaby is a farmer who receives two-thirds of his total income from the sale of oranges. After two consecutive years of early frosts that destroyed his orange harvest, Barnaby found himself deep in...

Explain how credit union exposure to liquidity risk differs from that of other financial institutions. Explain why credit unions are more insulated from interest rate risk than some other financial...

The Pregnancy Discrimination Act added new language to the definitions subsection of Title VII of the Civil Rights Act of 1964. The first clause of the Pregnancy Discrimination Act specifies that...

87. (a) From the results of Section 3.6.3 we can conclude that there are n+m1 m1 nonnegative integer valued solutions of the equation x1 + + xm = n. Prove this directly. (b) How many positive...

On January 1, 2013, Henderson Corporation retired $500,000 of bonds at 99. At the time of retirement, the unamortized premium was $15,000 and unamortized bond issue costs were $5,250. Prepare the...

A child is given a savings account with 2000. A further 500 is deposited in the account at the end of each year. Assuming an annual interest rate of 6%, calculate the value of the account i. at the...

One technique for limiting fault current is to place reactance in series with the generators. Such reactance can be modeled in PowerWorld Simulator by increasing the value of the generator's positive...

John Smith graduated 5 years ago, with a Business degree and an emphasis in Finance. John is currently employed as a Sr . Financial Analyst in the Corporate Finance department of a multinational...

The six product life-cycle stages of a deliverable include: Question 8 options: a) concept/definition, design, and start-up b) operations, retirement, and prototype c) construct, operations, and...

Joann Crier has completed her 3-month probation period with Inner City Health Care. She is doing quite well and has demonstrated skill in accurate financial documentation. She has been asked to take...

Scenario 2 Jenna, a marketing specialist, has an employment contract that was renewed yearly over a five year period. Jenna's contract was renewed annually to align with the company's growth...

Dave was a bachelor who lived in Sydney. He was a loner and in ill health. He contacted his sister, Keren, in Oxford, England and asked her to move to Sydney to help look after him. He promised that...

The demand equation for pen per day is as under (6) D 160- 15 P Calculate (a) How many pens per day can the firm sell at a price of Rs. 10 per pen? (b) If firm wants to sell two pens per day what...

Backus Inc. makes and sells many consumer products. The firm's average contribution margin ratio is 35%. Management is considering adding a new product that will require an additional $15,000 per...

Explain why it is not wise to accept a null hypothesis.

Guardian Insurance Agency adjusts its accounts monthly but closes them only at the end of the calendar year. The following are the adjusted balances of the revenue and expense accounts at September...

Rommel Fabrics is considering an investment proposal with a negative net present value of $50 when a discount rate of 9 percent is used. The same proposal has a positive net present value of $400...

The following information was taken directly from the footnotes to the financial statements of Best Buy. 1. A gift card liability is initially established for the value of gift cards when they are...

Are you like Joyce Jensen in that you do not feel safe walking in your neighborhood at night? How much television do you watch? Do you fit the profile offered by Cultivation Analysis? Why or why not?

Do you believe that the world is a mean place? What real-world evidence do you have that it is? What television evidence do you have that it is?

British Cultural Studies is strongly focused on class differences. What do you think about applying the thinking of British Cultural Studies to Cultural Studies in North America? Do you believe that...