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: none of the choices O 0.82 0.86 O 0.70

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: none of the choices O 0.82 0.86 O 0.70

Name: Ibe Corporation has an EUP of 248,750 units. Beginning inventory unit
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Description: 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 ofbeginning inventory of P9,800; current period conversion costs of P204,125.The unit co

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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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: 0.70 none of the choices 0.86 0.82
Production data show 27,626 units were transferred out of a stage of production and 7,834 units remained in ending WIP inventory that was 100% complete to material and 47% complete to conversion. The unit material cost is $8 for material and $4 for conversion. What is the amount of inventory transferred out? Round to the nearest whole dollar, no decimals.
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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. Using FIFO method, the unit cost is: none of the choices 0.0.82 0 0.70 0 0.86
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 total EUP of completed and transferred units is:
Total physical units are 39500. Total conversion costs are $97250. There are 1200 units in ending inventory which are 50% complete as to conversion costs. What is the unit conversion cost? $4.93. $2.50. $2.39. $2.46.
The following information regarding fixed production costs from a manufacturing firm is available for the current year: Fixed costs in the beginning inventory - P16,000; Fixed costs incurred this period - P100,000. Which of the following statements is not true? * a. The maximum amount of fixed production costs that this firm could deduct using absorption costs in the current year is P116,000. b. The maximum difference between this firm's the current year income based on absorption costing and its income based on variable costing is P16,000. c. Using variable costing, this firm will deduct no more than P16,000 for fixed production costs. d. If this firm produced substantially more units than it sold in the current year, variable costing will probably yield a lower income than absorption costing.
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. Using FIFO method, the unit cost is: Group of answer choices 0.86 0.70 none of the choices 0.82