4. Company Ruses a process costing system. The weighted average method is used in the computation of equivalent units of production. On June 1, 2020, the work-in process inventory consists of 10,000 units which were 50% completed as to conversion cost. Units transferred-in during the month of June were 35,000. The ending work-in process of 8,000 units was 25% completed as to conversion cost. What is the EUP for conversion cost for the month of June? 39,000 units O 34,000 units 37,000 units O 35,000 units 5. The total direct labor variance of Company J for the month of October 2020 is $500 unfavorable. The direct labor efficiency variance is $800 favorable. How much is the standard direct labor rate per hour if the actual direct labor cost is $10,000 for 1,000 hours? $11.30 $10.00 $9.50 $8.70 6. X Company estimates that 2% of its sales on account for the year ended December 31, 20OA will be uncollectible. If the total sales is $4,500,000 and 20% is cash sales, the adjusting entry for the December 31, 200A will include Accounts Receivable $90,000 Allowance for Bad Debts $ 72,000 Bad Debts Expense $ 18,000 An adjusting entry is not necessary

4. Company Ruses a process costing system. The weighted average method is used in the computation of equivalent units of production. On June 1, 2020, the work-in process inventory consists of 10,000 units which were 50% completed as to conversion cost. Units transferred-in during the month of June were 35,000. The ending work-in process of 8,000 units was 25% completed as to conversion cost. What is the EUP for conversion cost for the month of June? 39,000 units O 34,000 units 37,000 units O 35,000 units 5. The total direct labor variance of Company J for the month of October 2020 is $500 unfavorable. The direct labor efficiency variance is $800 favorable. How much is the standard direct labor rate per hour if the actual direct labor cost is $10,000 for 1,000 hours? $11.30 $10.00 $9.50 $8.70 6. X Company estimates that 2% of its sales on account for the year ended December 31, 20OA will be uncollectible. If the total sales is $4,500,000 and 20% is cash sales, the adjusting entry for the December 31, 200A will include Accounts Receivable $90,000 Allowance for Bad Debts $ 72,000 Bad Debts Expense $ 18,000 An adjusting entry is not necessary

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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