ere 2,200 units in ending work in process inventory that were 100% complete with regard to material and 20% complete with regard to conversion costs. Ending work in process inventory had a cost of $6,600 and a per-unit material cost of $2. What was the conversion cost per unit using the weighted-average method? Conversion cost per unit $fill in the blank 1
Q: 1. Generally accepted accounting principles are A. income tax regulations of the Internal Revenue…
A: Generally Accepted Accounting Principles are group of accounting standards that are used to…
Q: EOQ for Purchasing considered as . (Choose the correct answer) O a. None of them O b. Optimal Order…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Explain the purpose of the statement of cash flows and why it is necessary.
A: Statement of cash flow is the part of financial statements. It is more classified version of simple…
Q: n early 2021, Amina Corp. had balances in account receivables of BD 125,000 and allowance for…
A: The allowance for uncollectible accounts is established to record the estimated bad debt expense for…
Q: Profitability
A: Profitability is the prime purpose of every business. Every corporation tries to maximize its…
Q: the basis of the following stockholders' equity accounts, indicate the items, exclusive of net…
A: Financing activities of the company include those activities which deal with funding the company .…
Q: Dora Burch files her 2020 income tax return on March 2, 2021. She receives a nil assessment on June…
A: As given Dora Burch prepares her tax return for the year 2020 on March 2, 2021. On June 3, 2021, she…
Q: In pacto de retro sale or sale with a right to repurchase of an immovable property, what is the…
A: Correct answer is (C) 10 years .i.e In pacto de retro sale or sale with a right to repurchase of an…
Q: A new machine with a purchase price of $90,021, with transportation costs of $9,593, installation…
A: As per IAS 16, Property plant and Equipment The cost of an asset compromises of its purchase price,…
Q: Prepare the Journal Entries to the individual T-Account
A: Journal entries recording is the first step of accounting cycle. Under this, atleast one account is…
Q: Fugazi City College sold season tickets for the 2015 football season for $240,000. A total of 8…
A: Introduction: Journals: Each and every business transactions are to be recorded in journals. Another…
Q: Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: SportsWorld purchased equipment costing $10,000. The equipment has a residual value of $1,000, and…
A: Formula used: Straight line method depreciation = ( Asset cost - Salvage value ) / Useful life years
Q: Cash $7,000 Prepaid insurance 700 Accounts receivable 3,500 Accounts payable 2,800 Notes payable…
A: Introduction: Trial balance: All the final ledger accounts balances are posted in Trial balance to…
Q: hen closing income statement accounts having debit balances, which of the osed? O Purchases Returns…
A: Solution: Accounts having debit balances that are closed includes expenses on the income, sales…
Q: The charter for Zenith, Inc., authorizes the company to issue 250,000 shares of $9, no-par preferred…
A: Stockholders equity section represents all the remaining value of assets after settling all the…
Q: T surreptitiously stole the specific necklace of S. Afterwards, T conducted a public auction then…
A: Title is the legal way of saying you own a right to something.
Q: On July 1 of the current year, the assets and liabilities of John Wong, DVM, are as follows: Cash,…
A: Introduction:- Balance sheet shows financial position of the company. It is based on Balance sheet…
Q: Compute the chargeable gains arising on Karen's two disposals
A: Chargeable gains are those gains which have been gained by the taxpayer on which the taxpayer have…
Q: Performance Bike Co. has determined that the proper balance for the Allowance for Doubtful Accounts…
A: Journal entries includes the primary reporting of transactions occurring in the business.
Q: The Sunstate Bank has asked Dell Printing Co. for a budgeted balance sheet for the year ended…
A: Introduction:- Unclassified balance sheet lists all assets in their order of liquidity. Most of…
Q: untancy firm, EY refused to sign off Wirecard’s 2019 books after discovering1.9billion euros (US$2.1…
A: The given question is related to the subject Audit & Assurance. An auditor has the professional…
Q: Horizontal Analysis of financial statements specifically looks at the increases and decreases in the…
A: Horizontal analysis is used in financial statement analysis to compare historical data, such as…
Q: the end of the current year, the accounts receivable account has a debit balance of $1,184,000 and…
A: Answer to (A) Calculation of doubtful account amount : = Sales x 1% x (1/2) =13,420,000 x 1% x (1/2)…
Q: Please Solve In 20mins
A: These are the accounting transactions that are having a monetary impact on the financial statement…
Q: Sage Company is operating at 90% of capacity and is currently purchasir a part used in its…
A: Differential costs is the difference between costs of two alternatives. Costs and revenues should be…
Q: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired…
A: Equivalent units signifies the units fully and partially completed by the end of a period.
Q: On Sept. 1, the entity signed a contract, effective immediately, with Lei Hospital to dry clean, for…
A: Unearned revenues are those revenues which are received in advance by the business but not yet…
Q: The balance sheet of Tampa Company included the following shareholders quity accounts at December…
A: A cash dividend is declared and paid on the number of shares outstanding on the date of dividend…
Q: Nichols Enterprises has an investment in 27,000 bonds of Elliott Electronics that Nichols accounts…
A: Investment: Investment definition is an item that is purchased or invested in in order to accumulate…
Q: On January 1, Power House Co. prepaid the annual rent of $19,100. Journalize this transaction. If an…
A: Lets understand the basics. Adjustment entry is required to prepared to record correct amount of…
Q: Marigold Corp. wants to sell a sufficient quantity of products to earna profit of $100000, If the…
A: Formula: Units sell to earn desired profit = (Fixed costs + Desired income) /contribution margin…
Q: On April 1, Anita Strods created a new travel agency, Strods Travel. The following transactions…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: Your friend Harold is trying to decide whether to buy or lease his next vehicle. He has gathered…
A: Net Present Value=(Present Value of Cash Inflows-Present Value of Cash Outflows)
Q: 17. Which of the following contracts is not governed by the rule on double sale? Group of answer…
A: Double Sale: The rule on double sale as provided in Article 1544 of the Civil Code states that: If…
Q: The following data were accumulated for use in reconciling the bank account of Creative Design Co.…
A: Introduction:- Bank statement is regularly prepared and sent by bank. The company maintains its own…
Q: Question 52 Voluntary dissolution of a cooperative requires the approval of: Group of answer choices…
A: Note: As per the norms of the Barleby, in case of multiple sub parts been asked, only answer to 3…
Q: The policies in the states of USA to protect high school athletes from heat illness.
A: The given statement is True...... The policies in the states of USA to protect high school athletes…
Q: X Company prepares monthly financial statements. The following transactions occurred on October 1:…
A: Adjusting entries are those journal entries which are passed at the end of the period for the…
Q: Explain whether this situation presents any threats to independence and if so, explain the threats…
A: Auditing is done by the auditor which examines the financial statements of the company for which the…
Q: Company Alpha has been constructing a new piece of plant over the past 18 months which is due to…
A:
Q: ario had AGI of $90,000 and will iter e hurricane was a federally declare • The plane had a value of…
A: Casualty Loss is deductible in the year in which it occured losses i.e generally in the year loss…
Q: Which of the following is an example of an adjusting entry? Recording the billing of customers for…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: 12. Leyland Realty Company received a check for $18,000 on July 1, which represents a6-Ma advance…
A: Lets understand the basics. Adjustment entry is required to prepare to record correct amount of…
Q: The inventory data for an item for November are: Nov. 1 Inventory 25 units at $23 4 Sold 9 units 10…
A: The perpetual inventory system is the system where the company counts the inventory on regular…
Q: Using the percentage method, what is the amount of Oklahoma income tax withheld under each of these…
A: The amount of income tax withholding under the percentage method is calculated by looking for the…
Q: Firm X sold 1,000 units of their product last month at a p what is their gross margin for the month?
A: Gross Margin Gross profit is the financial gain of a company after deduction of the costs necessary…
Q: equired: Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year…
A:
Q: A building with an appraisal value of $132,331 is made available at an offer price of $151,729. The…
A: Note payable is a liability posted to the balance sheet of the company that has to be repaid within…
Q: June 2 Commenced business with a capital of 1,000,000 June 4 Purchased 2,000 vape at a cost of Php…
A: Post Closing Trial Balance: It is listing of all monetary record accounts containing non-zero…
Question Content Area
There were 2,200 units in ending work in process inventory that were 100% complete with regard to material and 20% complete with regard to conversion costs. Ending work in process inventory had a cost of $6,600 and a per-unit material cost of $2. What was the conversion cost per unit using the weighted-average method?
Conversion cost per unit $fill in the blank 1
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- CengageNOWv2 | Online teaching and learning resource from Cengage Learni еBook There were 2,600 units in ending work in process inventory that were 100% complete with regard to material and 30% complete with regard to conversion costs. Ending work in process inventory had a cost of $8,060 and a per-unit material cost of $1. What was the conversion cost per unit using the weighted-average method? Conversion cost per unit $eBook Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $5,000 Beginning work in process 3,000 Beginning inventory: conversion 1,100 Units started into production 85,000 Direct material 25,620 Transferred out 83,000 Direct labor 35,000 Applied overhead 12,500 Transferred-in materials 8,100 Transferred-in conversion 10,200 Total costs to account for $97,520 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 20% Material Units…eBook Show Me How Question Content Area Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 7,943 tons in beginning work in process inventory (20% complete) on October 1. During October, 61,100 tons were completed. The ending work in process inventory on October 31 was 5,499 tons (20% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.fill in the blank 1 units
- Costs in beginning work in process inventory was $4,500 and $37,800 in costs were added during the period. If there a equivalent unit under the weighted-average method is $ (Enter your answer as a whole number) Need help? Review these concept resources. Read About the Concept 4 7,050 equivalent units, the cost perUse the following data from a company using a process costing system to answer the question below. Conversion cost per equivalent unit for materials $2.50 Cost per equivalent unit for conversion $3.75 Beginning inventory costs $1, 200 Equivalent units for beginning inventory conversion 2, 400 Equivalent Units started and completed for both materials and conversion 10,000 Compute cost of good manufactured A. $10, 200 B. $72, 700 C. $71,500 D. $62, 500eBook Show Me How Question Content Area There were 1,500 units in beginning inventory that were 40% complete with regard to conversion. During the month, 8,550 units were started and 8,800 were transferred to finished goods. The ending work in process was 80% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method? Equivalent units of Materials fill in the blank 1 Equivalent units of Conversion fill in the blank 2
- eBook Show Me How Question Content Area Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 4,400 tons in beginning work in process inventory (90% complete) on October 1. During October, 44,000 tons were completed. The ending work in process inventory on October 31 was 3,960 tons (30% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.1/1 CengageNOWv2 | Online teachirn X now.com/ilrn/takeAssignment/takeAssignmentMaruo?invoker=&itakeAssignmentSessionLocator=&inprogress3Dfalse eBook Prepare the journal entry to record the transfer of 2,500 units from the packaging department to finished goods if the material cost per unit is $2 and the conversion cost per unit is $5.60. If an amount box does not require an entry, leave it blank. 88eBook Question Content Area Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 20% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $5,000 Beginning work in process 3,500 Beginning inventory: conversion 900 Units started into production 85,000 Direct material 27,810 Transferred out 84,500 Direct labor 44,540 Applied overhead 12,500 Transferred-in materials 7,900 Transferred-in conversion 10,300 Total costs to account for $108,950 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 20%…
- Question Content Area Carmelita, Inc., has the following information available: Line Item Description Costs from Beginning Inventory Costs from Current Period Direct materials $2,000 $22, 252 Conversion costs 6, 200 150, 536 At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4, 500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process costing method. Round cost per unit figure to the nearest cent when calculating total costs. The total costs that will be transferred to Finished Goods for units started and completed were a. $156,960 b. $161,775 c. $162,855 d. $161, 505* My Home /ilrn/takeAssignment/takeAssignmentMa.uo?inprogress=true 1/1 CengageNOWv2| Online te X eBook D 28) Migos- Straightenin (C x+ There were 2,600 units in ending work in process inventory that were 100% complete with regard to material and 20% complete with regard to conversion costs. Ending work in process inventory had a cost of $5,720 and a per-unit material cost of $1. What was the conversion cost per unit using the weighted-average method? 电 |0 ... Conversion cost per unit $ Previous Next Check My Work Submit Assignment for Grading Save and Exit 1:08 PM 3/4/2022 37°F Sunny A O dyCost per equivalent unit this period Cost in beginning work-in-process inventory Equivalent units to complete beginning inventory Direct Materials $3.00 $24,000 0 Conversion $5.00 $29,400 2,400 Units started and completed this period 26,000 26,000 Equivalent units in completed ending inventory 12,000 4,800 Materials are added at the beginning of the production process. Conversion costs are added uniformly throughout the production process. Assuming a FIFO flow of costs, what is this company's computed total production cost transferred out during the period?