Business, 01.07.2021 15:30 Gheaton1889

Work in process inventory, September 1 (2,000 units, 100% complete with respect todirect materials, 80% complete with respect to direct labor and overhead; includes$45,000 of direct material cost, $25,600 in direct labor cost, $30,720 overhead cost) $ 101,320 Units started in April 28,000 Units completed and transferred to finished goods inventory 23,000 Work in process inventory, September 30 (? units, 100% complete with respect to direct materials, 40% complete with respect to direct labor and overhead) ? Costs incurred in September Direct materials $ 375,000 Conversion $ 341,000Required:Compute each of the following, assuming Hi-Test uses the weighted-average method of process costing.(Round "Cost per EUP" to 2 decimal places.)1. The number of physical units that were transferred out and the number that are in ending work in process inventory.2&3. The number of equivalent units for materials and conversion for the month.4&5. The cost per equivalent unit of materials and conversion for the month6. The total cost of goods transferred out.7. The total cost of ending work in process inventory.

Answers: 3

Show answers

Answers

Answer from: mistytownsend1952

1. Number of physical units transferred out = 23,000 units

Number of units in ending work in process = 7,000 units

2. The number of equivalent units for materials = 30,000 units

3. The number of equivalent units for conversion = 25,800 units

4. The cost per equivalent units for materials = $14.00

5. The cost per equivalent units for conversion = $15.40

6. The total cost of goods transferred out = $676,200

7. The total cost of ending work in process inventory = $141,120

Explanation:

a) Data and Calculations:

Units Materials Conversion Total

Work in process inventory,

September 1 2,000 100% 80%

Cost of beginning WIP $45,000 $56,320 $101,320

Cost during April 375,000 341,000 716,000

Total production costs $420,000 $397,320 $817,320

Units started in April 28,000

Total units in process 30,000 (2,000 + 28,000)

Units transferred out 23,000 23,000 23,000

Ending WIP, Sept. 30 7,000 7,000 (100%) 2,800 (40%)

Total equivalent units 30,000 25,800

Cost per EUP $14.00 ($420,000/30,000) $15.40 ($397,320/25,800)

Cost of goods transferred out $322,000 $354,200 $676,200

($14.00 * 23,000) ($15.40 * 23,000)

Cost of ending WIP $98,000 $43,120 $141,120

($14.00 * 7,000) ($15.40 * 2,800)

Total costs accounted for $420,000 $397,320 $817,320

Answer from: Quest

the answerr would be 1

Answer from: Quest

what is wrong with black soap shampoo?

explanation:

Another question on Business

Business, 21.06.2019 20:20

The 2016 financial statements of the new york times company reveal average shareholders’ equity attributable to controlling interest of $837,283 thousand, net operating profit after tax of $48,032 thousand, net income attributable to the new york times company of $29,068 thousand, and average net operating assets of $354,414 thousand. the company's return on net operating assets (rnoa) for the year is: select one: a. 3.5% b. 6.9% c. 13.6% d. 18.7% e. there is not enough information to calculate the ratio.

Answers: 1

Answer

Business, 21.06.2019 21:00

12. nelson corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 115 units in beginning inventory 380 units produced 5,900 units sold 6,070 units in ending inventory 210 variable costs per unit: direct materials $ 46 direct labor $ 27 variable manufacturing overhead $ 3 variable selling and administrative $ 12 fixed costs: fixed manufacturing overhead $ 112,100 fixed selling and administrative $ 36,420 the company produces the same number of units every month, although the sales in units vary from month to month. the company's variable costs per unit and total fixed costs have been constant from month to month. a. prepare a contribution format income statement for the month using variable costing. unit product cost under variable costing direct materials direct labor variable manufacturing overhead variable costing unit product cost (formula)

Answers: 3

Answer

Business, 22.06.2019 03:30

Instructions: use the following information to construct the 2000 balance sheet and income statement for carolina business machines. round all numbers to the nearest whole dollar. all numbers are in thousands of dollars. be sure to read the whole problem before you jump in and get started. at the end of 1999 the firm had $43,000 in gross fixed assets. in 2000 they purchased an additional $14,000 of fixed asset equipment. accumulated depreciation at the end of 1999 was $21,000. the depreciation expense in 2000 is $4,620. at the end of 2000 the firm had $3,000 in cash and $3,000 in accounts payable. in 2000 the firm extended a total of $9,000 in credit to a number of their customers in the form of accounts receivable. the firm generated $60,000 in sales revenue in 2000. their cost of goods sold was 60 percent of sales. they also incurred salaries and wages expense of $10,000. to date the firm has $1,000 in accrued salaries and wages. they borrowed $10,000 from their local bank to finance the $15,000 in inventory they now have on hand. the firm also has $7,120 invested in marketable securities. the firm currently has $20,000 in long-term debt outstanding and paid $2,000 in interest on their outstanding debt. over the firm's life, shareholders have put up $30,000. eighty percent of the shareholder's funds are in the form of retained earnings. the par value per share of carolina business machines stock is

Answers: 3

Answer

Business, 22.06.2019 11:40

Select the correct answer. which is a benefit of planning for your future career? a.being less prepared after high school. b.having higher tuition in college. c.earning college credits in high school. d.ruining your chances of having a successful career.

Answers: 2

Answer

You know the right answer?

Work in process inventory, September 1 (2,000 units, 100% complete with respect todirect materials,...

Questions