BEBE Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion cost of beginning inventory of P9,800; current period conversioncosts of P204,125. Using FIFO method, the unit cost is: 0.70 none of the choices 0.82 0.86 Using FIFO method, the EUP of completed and transferred units is:

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Q: EB5. LO 5.3 Using the weighted-average method, compute the equivalent units of production if the…

A: Inventory refers to the goods or products that a business holds for the purpose of resale or for use…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: The conversion cost per equivalent unit is calculated as total conversion cost divided by number of…

Q: 0.The following data were available for  Product Z  at Mar 31, 20X1: Beg inventory 50 units @ 12…

A: Solution: There are various method of inventory valuation as under: 1. First in First Out (FIFO) 2.…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost   = 9800+204125   = P213925

Q: Required: Determine the EOQ using the following: Tabular approach a. I b. Mathematical approach

A: Economic Order Quantity(EOQ) refers to optimum order quantity that is suggestable to a company to…

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A: Inventory valuation refers to the process of assigning a monetary value to the inventory of a…

Q: Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending…

A: solution: Units started and completed = Total EUP - Units completed from beginning WIP - Units in…

Q: Complete the following table: (Enter all values as positive values.) Production 750 830 900 735 840…

A: Production contributes to beginning inventory, which, when added to purchases, leads to the…

Q: Crane uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final 48.) W W low age…

A: Calculation of weighted average cost per unitFORMULAAverage Cost per unit = total cost/total…

Q: PROBLEM 2: MULTIPLE CHOICE 1. Which of the following is not included as part of the cost of an…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing as follows:…

A: The cost per unit is calculated as total cost divided by number of equivalent units.

Q: (a) Prepare an incremental analysis for the special order. (Round computations for per unit cost to…

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925

Q: Weighted-average costs per equivalent unit are $2.10 for direct materials and $3.05 for conversion.…

A: INTRODUCTION: COGS is an accounting term with a precise definition under Generally Accepted…

Q: Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its…

A: INVENTORY VALUATION SYSTEM   Inventory Valuation is a Method of Calculation of Value of Inventory…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: EUP of beginning units = beginning units x% Completed   = 22500 x 40%   = 9000

Q: How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 units…

A: Units completed and transferred out is the difference between total units to account for and units…

Q: You are considering purchasing 850 units of inventory. Requirements: 1. Determine which supplier…

A: The purchase is the sum of the invoice price, transportation cost for bringing goods, and the…

Q: Production data show 25,075 units were transferred out of a stage of production and 7,639 units…

A: Given that: Units transferred out = 25075 units Material cost per unit = $5 per unit Conversion cost…

Q: Oriole Company developed the following information about its inventories in applying the…

A: Inventory is one of important current asset being used in business. Lower of cost or net realisable…

Q: X Company had $80,000 of ending finished goods inventory, beginning finished goods inventory was…

A: Cost of goods manufactured = Cost of goods sold + Ending inventory - Beginning inventory

Q: None

A: Net realizable value (NRV) is the value of an asset in open market when sold. It is also termed as…

Q: The following information pertains to Good luck Co. Beginning inventory Units produced Units sold…

A: Unit product cost based on variable costing = P10 + P8 + P2 = P20

Q: Calculate Prime cost.

A: In a manufacturing process, there are many activities carried out continuously for reaching the…

Q: A corporation has provided the following information about one of their products:   Date…

A: Under average cost method, cost of goods sold is calculated on the basis of a weighted average cost.…

Q: Compute cost of goods sold, assuming Kingbird uses: (Round average cost per unit to 4 decimal…

A: Cost of Goods sold -               (a) Periodic System , Fifo Cost flow  $226,000.00       (b)…

Q: The inventory of Royal Decking consisted of five products. Information about ending inventory is as…

A: Lower of cost or market is an approach to valuation of inventory. The concept of lower of cost and…

Q: Revise your calculations based on the new information provided below and then answer the questions…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: 5 based on market conditions, Information on costs WIP inventory-Refining Beginning inventory…

A: Equivalent units of production means converting the work-in-progress of incomplete units into…

Q: Chris Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Total conversion cost = beginning cost+ current period cost   = 9800+204125   = P213925

Q: Required information [The following information applies to the questions displayed below.] The…

A:

Q: Carla Vista Limited is a company that produces machinery to customer orders, using a normal…

A: SolutionWorking notes-Calculation of under or over applied manufacturing…

Q: Weighted-average costs per equivalent unit are $2 for direct materials and $3 for conversion. There…

A: Cost of the goods completed:Cost of goods completed represents the total cost incurred for the…

Q: The inventory of Royal Decking consisted of five products. Information about ending inventory is as…

A: Inventory should be recorded at the lower of its cost or the amount at which it can be sold,…

Q: Production data show 23,185 units were transferred out of a stage of production and 9,366 units…

A: Total cost of inventory transferred out =cost of completed inventory transferred out +Cost of…

Q: Riverbed Corp reports the following for the month of June. Date Explanation Units…

A: Inventory Valuation Methods are methods of valuation of inventory. There are three methods of…

Q: As of 12-31-15, Acme Company has three different inventory items on hand. Data on the three items…

A: Hence, NRV for item A, item B and item C is $1,400,$375 and $750 respectively.NRV for each item is…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.