Current Attempt in ProgressCrane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM)basis in valuing inventories.Product Cost Net realizable valueA$119000$127000B78000C15100076000O $346000O $348000O $369000O $367000.164000DIf Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be

The lower cost and net realizable value method states that the inventory should be valued at the…

Current Attempt in Progress Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Product Cost A B C $119000 78000 151000 Net realizable value $127000 O $346000 O $348000 O $369000 O $367000 76000 164000 4 If Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be

Current Attempt in Progress Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Product Cost A B C $119000 78000 151000 Net realizable value $127000 O $346000 O $348000 O $369000 O $367000 76000 164000 4 If Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be

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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signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Calculator Production data show 35,820 units were transferred out of a stage of production and 6,200 units remained in ending WIP inventory that was 100% complete to material and 40% complete to conversion. The unit material cost is $5 for material and $7 for conversion. What is the amount of inventory transferred out and remaining in ending work in process inventory? Transferred out $ 429,840 Ending inventory $ 48,360 Previous Email Instructor Submit Test for Grading All work saved. 5:39 PM 3. 10/2/2020 中ツ

View Policies Current Attempt in Progress In which of the following categories do indirect materials belong? Product Cost Manufacturing Overhead Period Cost No No Yes Yes No No Yes Yes No Yes Yes Yes eTextbook and Media Save for Later O Attempts: 0 of 3 used Submit Answer
Part B: Compute the cost per equivalent unit fir direct materials and conversion costs Please avoid solutions image based solutions thanku
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1/1 gageNOWv2 | Online teachirs X m/ilrn/takeAssignment/takeAssignmentMa.uo?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Using the weighted-average method, compute the equivalent units of production for a new company that started 84,000 units into production and transferred 64,000 to the second department. Assume that beginning inventory was 0. Conversion is considered to occur evenly throughout the process, while materials are added at the beginning of the process. The ending inventory for Equivalent Units: Conversion is 10,000 units. Equivalent Units of Materials Equivalent Units of Conversion
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 13,200 17,900 8,600 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Required 1 Required 2 33,750 23,200 21,350 28,000 7,900 9,150 23,500 14,000 4,940 42,500 56,400 297,270 25,000 16,000 Total prime costs Pepper Company $ 16,900 21,150 11,250