Please do not give solution in image format thanku Tambin Inc. produces a gasoline additive that, when added to the gas tank of the average automobile, is designed to increase gasmileage by 20%. The company's controller suspects that the year-end dollar balances shown below in the inventory accounts may beincorrect.Work in process, December 31 (materials 100% complete;conversion 50% complete)Finished goods, December 31Work in process, beginning of year (materials 100% complete;conversion 80% complete)UnitsStarted into productionCosts added during the yearUnits completed during the year35,00040,000There were no finished goods inventories at the beginning of the year. The company uses the weighted-average method of processcosting. There is only one processing department.A review of the company's inventory and cost records shows the following:Units30,000610,000Costs780,000$ 70,000$123,500CostsMaterialsConversion$ 32,000 $ 58,000$760,000$2,100,000 Required:1. Determine the equivalent units and the costs per equivalent unit for materials and conversion for the year. (Round your "Cost perequivalent unit" answers to 2 decimal places.)Equivalent units of productionCost per equivalent unitCost of ending work in process inventoryCost of finished goods inventory2. Determine the amount of cost that should be assigned to the ending work in process and finished goods inventories.View transaction listJournal entry worksheet<AMaterialsNote: Enter debits before credits.Event1Materials3. Prepare the necessary correcting journal entry to adjust the work in process and finished goods inventories to the correct balancesas of December 31. (Round intermediate calculations to 2 decimal places.)Record entryConversionRecord the entry to adjust the work in process and finished goods inventoriesGeneral JournalConversionClear entry$$TotalDebit0Credit0View general journal>

Equivalent unit of production defines the amount of work done by a manufacture on units of output…

ambin Inc. produces a gasoline additive that, when added to the gas tank of the average automobile, is designed to increase gas mileage by 20%. The company's controller suspects that the year-end dollar balances shown below in the inventory accounts may be ncorrect. Work in process, December 31 (materials 100% complete; conversion 50% complete) Finished goods, December 31 Units 35,000 40,000 Costs $ 70,000 $123,500 There were no finished goods inventories at the beginning of the year. The company uses the weighted-average method of process costing. There is only one processing department. A review of the company's inventory and cost records shows the following: Costs

ambin Inc. produces a gasoline additive that, when added to the gas tank of the average automobile, is designed to increase gas mileage by 20%. The company's controller suspects that the year-end dollar balances shown below in the inventory accounts may be ncorrect. Work in process, December 31 (materials 100% complete; conversion 50% complete) Finished goods, December 31 Units 35,000 40,000 Costs $ 70,000 $123,500 There were no finished goods inventories at the beginning of the year. The company uses the weighted-average method of process costing. There is only one processing department. A review of the company's inventory and cost records shows the following: Costs

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

I need this in text not images
Is there an excel table showing how to use functions?
How is the access control list approach different from RBAC?
Define deferred call
← Assignment Worksheet- Formulas_-1892213908 Functions and Formulas Individual Assignment 1) Define a model 2) Define a function 3) Define a formula : ||
Which of the following QBO features can be used to save a transaction that will be re-used in the future? Multiple Choice Saved transactions (+) New icon Recurring transactions None of the choices is correct.
HI Exam A "Queue" is also known as what? a. Linked list b. LIFO C. FIFO d. Stack
please see attached problem
LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
how to find ADF
Can I gt help for part iv, v, vi tank u
Does a user view always require multiple tables to support it? Explain.