Ferdon inc. company started job #4 with 32 units. 7 units were rejected upon inspection. normal spoilage is 5 units. costs prior to inspection amount to $1,450 per unit and the spoiled units have a salvage value of $520 per unit. what is the cost per unit of the good units in job #4

Ferdon inc. company started job #4 with 32 units. 7 units were rejected upon inspection. normal spoilage is 5 units. costs prior to inspection amount to $1,450 per unit and the spoiled units have a salvage value of $520 per unit. what is the cost per unit of the good units in job #4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: State the journal entries necessary to record the assignment of direct materials, direct…

A: Journal entries should not be used to record routine transactions such as customer billings and…

Q: J Crockery received an order for 50 units of a product. In anticipation of spoilage production of 52…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: units. Seven (7) units were rejected upon inspection. Normal spoilage, attributable to the job, is 5…

A: Abnormal Spoilage = Total Spoilage - Normal Spoilage Total Spoilage = 7 UnitsNormal Spoilage = 5…

Q: Norman has a factory that operates a production process called finishing. The normal loss of the…

A: Process costing refers to the costing technique for ascertaining the cost of large scale industries…

Q: A company produces 12,000 units of which 300 are spoiled units because the process, even though…

A: Step 1: The 300 spoiled units are normal spoilage and the 50 spoiled units are abnormal spoilage so…

Q: Required: 1. Calculate the cost of the Tramel job. 2. Make any needed journal entry to the overhead…

A: When the spoilage is normal and is identifiable with a particular job, the amount of additional…

Q: Galaviz Company's quality cost report is to be based on the following data: Net cost of spoilage $…

A: 1. Identify the Types of Quality Costs:Quality costs are typically categorized into four main…

Q: Units Amounts in £ Input materials 20500 70000 Transferred to Finished Inventory 17000…

A: Normal loss is type of loss which is incurred due to normal business used and that can not be…

Q: 5. The materials purchasing manager purchased 11,000 units of component K2X from a new source at a…

A: Lets understand the basics. Material price variance is a variance between the rate at which material…

Q: ) Galvin Company's quality cost report is to be based on the following data: Net cost of spoilage $…

A: A Quality Cost Report is a tool used by businesses to identify, analyze, and reduce the costs…

Q: Norman has a factory that operates a production process called finishing. The normal loss of the…

A: Normal Scarp loss Normal scrap loss which was incurred while in the production process some of the…

Q: Norman has a factory that operates a production process called finishing. The normal loss of the…

A: Process costing is a technique for estimating the costs involved in the large scale industrial…

Q: Southwest toys manufacturers gloves at its San Francisco facility. The company uses job costing and…

A: Journal Entry is the primary step to record the transaction in the books of accounts. The increase…

Question

what is the cost per unit of the good units in job #4

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

The abnormal spoilage is 300 units and the cost per equivalent unit is $2 for direct materials and $3 for conversion. The inspection point is at the end of processing. There are 600 units in ending Work-in-Process and normal spoilage is 200 units. What are the equivalent units for material and conversion using the weighted -average method and the FIFO method? Please provide an explanation of the calculation.
The president of Mission Inc. has been concerned about the growth in costs over the last several years. The president asked the controller to perform an activity analysis to gain a better insight into these costs. The activity analysis revealed the following: Activities Activity Cost Correcting invoice errors $8,500 Disposing of income materials with poor quality 16,000 Disposing of scrap 28,500 Expediting late production 21,500 Final inspection 19,000 Inspecting incoming materials 5,000 Inspecting work in process 25,000 Preventive machine maintenance 15,000 Producing product 95,500 Responding to customer quality complaints 15,000 Total 249,000 The production process is complicated by quality problems, requiring the production manager to expedite production and dispose of scrap. Prepare a Pareto chart of the company activities. Classify the activities into prevention, appraisal, internal failure,…
Prawitt Company incurred an activity cost of $103,500 for inspecting 30,000 units of production. Management determined that the inspecting objectives could be met without inspecting every unit. Therefore, rather than inspecting 30,000 units of production, the inspection activity was limited to a random selection of 4,000 units out of the 30,000 units of production. Determine the inspection activity cost per unit on 30,000 units of total production both before and after the improvement. If required, round per unit amounts to the nearest cent.Inspection activity before improvement fill in the blank 1 of 2$ per unitInspection activity after improvement fill in the blank 2 of 2$ per unit
Galaviz Company's quality cost report is to be based on the following data: Net cost of spoilage Test and inspection of in-process goods Supplies used in testing and inspection Quality engineering Downtime caused by quality problems Systems development Supervision of testing and inspection activities Cost of field servicing and handling complaints Lost sales due to poor quality Required: Complete the following Quality Cost Report. $ 103,000 $ 49,000 $ 111,000 $ 117,000 $ 75,000 $ 30,000 $ 77,000 $ 66,000 $ 42,000 Galaviz Company Quality Cost Report Prevention costs Total prevention cost Appraisal costs
Cost of Normal Spoilage Frieling Company installs granite countertops in customers' homes. First, the customer chooses the particular granite slab, and then Frieling measures the countertop area at the customer's home, cuts the granite to that shape, and installs it. The Tramel job calls for direct materials of $2,100 and direct labor of $1,100. Overhead is applied at the rate of 110 percent of direct labor cost. Unfortunately, one small countertop breaks during installation and Frieling must cut another piece and install it to properly complete the job. The additional rework required direct materials costing $600 and direct labor costing $300. Assume that the spoilage was due to carelessness by a Frieling worker and it is considered to be normal spoilage. Required: 1. Calculate the cost of the Tramel job. $ 2. Make any needed journal entry to the overhead control account. If an amount box does not require an entry, leave it blank. 3. What if the additional rework required $600 of…
Roen Company incurred an activity cost of $117,300 for inspecting 46,000 units of production. Management determined that the inspecting objectives could be met without inspecting every unit. Therefore, rather than inspecting 46,000 units of production, the inspection activity was limited to a random selection of 4,600 units out of the 46,000 units of production. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Determine the inspection activity cost per unit on 46,000 units of total production both before and after the improvement. Do not round intermediate calculations. If required, round per unit amounts to the nearest cent. Inspection activity before improvement: $ per unit Inspection activity after improvement: $ per unit