Ibe 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 costs of beginning inventory of P9,800; current period conversion costs of P204,125. The unit conversion cost using weighted average method is: A. 0.86 B. 0.70 C. 0.82 D. none of the choices

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: Cheap Sheep Company developed the following information about its inventories in applying the lower…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

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

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

Q: ibe corporation has an eup of 248,750 units. beginning inventory units of 22,500, 40% incomplete:…

A: unit conversion cost using weighted average method = current period conversion cost / Equivalent…

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

A: Weighted average method: Unit Conversion cost = Total conversion cost / EUP

Q: The following information pertains to one item of inventory of the Simon Company: Cost Per unit $…

A: The LCM technique is an accounting theory that is used to value inventory at the lower of its…

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

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

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: 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: The following information has been extracted from the records of Marie Company about one of its…

A: Inventory is one of the important current asset of the business. Inventory means goods left out at…

Q: Byron Company has five products in its inventory and uses the FIFO cost flow assumption. Specific…

A: NRV is calculated by deducting the projected cost of disposal from the product's selling price. This…

Q: Cost of goods sold per record – 385,800 Inventory at year-end shall be carried at

A: The determination of value of inventory at year end is shown hereunder : We can determine the value…

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

A: Process costing is that method of costing which is used for industries where product has to go…

Q: XYZ 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: Winner Company has two products with cost and selling price as follows:…

A: Solution Concept Under lower of cost or NRV method , The inventory is valued at lower of the cost or…

Q: Total physical units are 39700. Total conversion costs are $168990. There are 800 units in ending…

A: total physical units = 39700 conversion costs = 168990 inventory at the end = 800 units which are…

Q: Production data show 35,820 units were transferred out of a stage of production and 6,200 units…

A: Equivalent Units: Equivalent units of production (EUP) is a managerial accounting calculation that…

Q: The VARCOST2 worksheet is capable of calculating variable and absorption income when unit sales are…

A: The question is based on the concept of Cost Accounting.

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

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

Q: ibe corporation has an eup of 248,750 units. beginning inventory units of 22,500, 40% incomplete:…

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

Q: NUBD Co. has the following information for October: Unts started Beginning Work in Process: (35%…

A: Process costing is a method of cost accounting, which is used where there is continuous production…

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

A: Weighted average method: Unit Conversion cost = Total conversion cost / EUP

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.