bfk company manufactures desks. the beginning balance of Raw material Inventory was 4,500, raw materials purchases of 29,600 were made during the month. At the month end 7,700 raw material was on hand. Raw material used during the month was

bfk company manufactures desks. the beginning balance of Raw material Inventory was 4,500, raw materials purchases of 29,600 were made during the month. At the month end 7,700 raw material was on hand. Raw material used during the month was

Name: bfk company manufactures desks. the beginning balance of Raw material
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Description: bfk company manufactures desks. the beginning balance of Raw material Inventory was 4,500, raw materials purchases of 29,600 were made during the month. At the month end 7,700 raw material was on hand. Raw material used during the month was

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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The Rolling Department of Jabari Steel Company had 2,300 tons in beginning work in process inventory (90% complete) on October 1. During October, 38,000 tons were completed. The ending work in process inventory on October 31 was 1,900 tons (80% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? units
Management of Animo Inc has asked for your help as an intern in preparing some key reports for April. The beginning balance in the raw materials inventory account was P30,000. During the month, the company made raw materials purchases amounting to P29,000. At the end of the month, the balance in the raw materials inventory account was P22,000. Direct labor cost was P24,000 and manufacturing overhead was 250% of direct labor cost. The beginning balance in the work in process account was P24,000 and the ending balance was P19,000. The beginning balance in the finished goods account was P53,000 and the ending balance was P58,000. The selling expense was P20,000 and the administrative expense was P35,000. P. is the total amount of Prime Cost.
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The towson company has gathered the following information for the month of September pertaining to its use of materials in Work in Process; beginning inventory had 4,500 (equivalent units of production) valued at $13,500; $202,000 of materials were added during th emonth ending inventory consisted of 16,000 (equivalent units of production) and 50,000 units were completed and transfered to the next department. What is the FIFO cost per equivalent units of production of materials added for the month of september? Round to the nearest $.001