Question: Use the Fresh Seasons information from Problem 49, except assume that the company uses a FIFO process costing system. a. How many gallons of dressing

Use the Fresh Seasons information from Problem 49, except assume that the company uses a FIFO process costing system.

a. How many gallons of dressing ingredients were started in April?

b. What is the total cost of the completed beginning inventory?

c. What is the total cost of goods completed during April?

d. What is the average cost per gallon of all goods completed during April?

e. What is the cost of April’s ending WIP Inventory?


Step by Step Solution

★★★★★

3.41 Rating (167 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a Gallons transferred out 242000 Gallons in ending WIP 23500 Total gallons to account for 265500 Gal... View full answer

blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

146-B-M-A-P-C (725).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

Assume that a company uses a work sheet as illustrated in Exhibit 12-16 to prepare its statement of cash flows and that it uses the indirect method in the Operating Activities section of the...

Q:

Assume that your company uses a release methodology for its sales system. The current version is 4.5. Decide whether each of the following changes would justify a version 5.0 release, or be included...

Q:

Assume that your company uses activity-based costing. You must set the price for a custom order and suggest that your boss use a cost-plus pricing approach. Your boss states, "We can't possibly use...

Q:

Use the Fresh Seasons information from Problem E6-51, except assume that the company uses a FIFO process costing system. a. How many gallons of dressing ingredients were started in April? b. What is...

Q:

I need the following Assignments Completed so that I may compare them to my current answer. There are multiple sections to this Assignment SECTION 3 1. Which of the following is not a characteristic...

Q:

I need the following Assignments Completed so that I may compare them to my current answer. There are multiple sections to this Assignment SECTION 3 1. Which of the following is not a characteristic...

Q:

39. (Cost assignment; FIFO) Green Seasons Processors is a contract manufacturer for the Delectable Dressing Company. Green Seasons uses a FIFO process costing system to account for the production of...

Q:

Which of the following activities is most likely to be classified as value-added for a manufacturing company? A. storing B. ordering C. inspecting D. assembling 2. Which of the following activities...

Q:

Hi Rocky4ever, please take a look at the attachedquestions and let me know if I can have the solutions by Friday. Thanks 1) Beeper's Boaster Juice blends high-protein smoothies and packages them for...

Q:

Please help me with those cost accounting questions too as last time. I got 93 out of 100 last time. 1. A company is building a widget. During the current year, a widget requires direct materials...

Q:

In the Solow model, an increase in the investment rate will _____ the amount of capital needed to achieve a steady-state of output.

Q:

June Money is a business major at State U. She will be graduating this year and is planning to start a consulting business. She will need to purchase computer equipment that costs $35,000. She can...

Q:

A firm is considering a project with cash flows of $ 3 7 0 , 0 0 0 , $ 1 3 5 , 0 0 0 , $ 4 0 , 0 0 0 , $ 2 5 0 , 0 0 0 , and $ 3 0 0 , 0 0 0 for Years 0 to 4 , respectively. The discounting rate is 1...

Q:

5.31 Sparrowhawk colonies. One of nature's patterns con nects the percent of adult bitds in a colony that return from the ptevious year and the number of new adults that join the colony. Here are...

Q:

This problem covers concepts that were presented in Chapters 11 and 12 concerning job-order costing systems. Mid-Life Motorcycles (MLM) is a small shop that builds customized motorcycles, mostly for...

Q:

Bowen Bridge Company constructs bridges for the State of Kentucky. During 2010, Bowen started work on three bridges. The cost of materials and labor for each bridge follows. The predetermined...

Q:

Identifying appropriate product costing systems for three real world companies Obtain the Form 10-Ks for these three companies: AGCO Corporation, Crown Holdings, Inc., and Noble Corporation. To...

Q:

A firm is considering a project with the following cash flows: Time 0 = +$20, 000, Years 1-5 = -$4, 500. Should the project be accepted if the cost of capital is 10%? Yes; The IRR of the project is...

Q:

Miller Corporation has a premium bond making semiannual payments. Thw bond has a coupon rate of 12 percent, has a YTM of 10 percent, and has 18 years to maturity. Assume interest rates remain...

Q:

Following are four economic states, their likelihoods, and the potential returns: Economic State Probability Return Fast growth 0.29 60 % Slow growth 0.57 17 Recession 0.05 23 Depression 0.09 55...