In December, one of the processing departments at Bonine Corporation had ending work in process inventory of $32,000. During the month, $264,000 of costs were added to production and the cost of units transferred out from the department was $257,000. The company uses the FIFO method in its process costing system. Required: Construct a cost reconciliation report for the department for the month of December. Essay Toolbar navigation BIVS 1 !!! Þ A

In December, one of the processing departments at Bonine Corporation had ending work in process inventory of $32,000. During the month, $264,000 of costs were added to production and the cost of units transferred out from the department was $257,000. The company uses the FIFO method in its process costing system. Required: Construct a cost reconciliation report for the department for the month of December. Essay Toolbar navigation BIVS 1 !!! Þ A

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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Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 work in process, April 1 costs added during April total costs % complete DM 60% DM $ 25,310 $190,720 $216,030 70% The cost of beginning work in process and the costs added during April were as follows: % complete conversion 85% Conversion $191,175 $208,985 $400,160 40% Total cost $216,485 $399,705 $616,190 Calculate the total cost of the handling department's work in process inventory at April 30 using the weighted average process costing method.
QUESTION: In September, one of the processing departments at Farquer Corporation had beginning work in process inventory of $34,000. During the month, $342,000 of costs were added to production and the cost of units transferred out of the department was $357,000. Required: Construct a cost reconciliation report for the department for the month of September.
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some answers I am having trouble with if any of my answers are wrong could you help me correct them INSTRUCTIONS: The following are the actual numbers for January: Materials Purchased $5,000 of Materials Consumed 40% of those purchased materials Direct Labor Direct Labor was $6,240 Overhead Overhead was $2,800 Bark & Bath Grooming Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work in Process Inventory 0 Direct Materials: Materials - Beginning 0 Add: Purchases for month of January $ 5,000 Materials Available for Use 5,000 Deduct: Ending Materials 3,000 Materials Used $ 2,000 Direct Labor 6,240…
Question: Materials are added at the beginning of the production process at Santiago Company, which uses a FIFO process costing system. The following information on the physical flow of units is available for the month of April. Beginning work in process (40% complete) $22,500 10,000 units Started in April 50,000 units $255,000 Completed in April and transferred out $240,000 55,000 units Ending work in process 5,000 units (70% $37,500 complete) Compute the equivalent units for the conversion cost calculation. Equivalent units total:
A company has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total Activity Assembly Processing orders $70,578.60 $1,586,690 66,500 machine-hours 2,370 orders Inspection $124,500 1,660 inspection- hours The company makes 600 units of product A a year, requiring a total of 2,030 machine- hours, 108 orders, and 33 inspection-hours per year. The product's direct materials cost is $52.59 per unit and its direct labor cost is $19.32 per unit. The product sells for $175.60 per unit. According to the activity-based costing system, the product margin for product A is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $10,561.96 $8.086.96 $11,303.20 $62.214.00
AirQual Test Corporation provides on-site air quality testing services. The company provided the following cost formulas and actual results for the month of February: Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Fixed Component per Month Variable Component per Job $ 276 Actual Total for February $ 30,370 $8,150 $ 8,540 $ 8,300 $ 4,500 $ 35 $2,700 $3 $2,910 $1,550 $ 2,860 $940 $ 1,620 $2,860 $1 $ 365 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,500 plus $35 per job, and the actual mobile lab operating expenses for February were $8,540. The company expected to work 120 jobs in February but actually worked 122 jobs. Required: Prepare a flexible budget performance report for February. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all…
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Revenue Technician wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses Fixed Component per Month $ 8,300 $ 4,600 $ 2,200 $ 1,590 $ 2,860 $ 960 Variable Component per Job $ 279 $ 32 $ 3 $ 1 Actual Total for February $ 30,730 $ 8,150 $ 8,280 $ 2,410 $ 1,660 $ 2,860 $ 385 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,600 plus $32 per job, and the actual mobile lab operating expenses for February were $8,280. The company expected to work 120 jobs in February, but actually worked 128 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting…
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You have collected the following information about activity and costs - Activity - Machine Cost - Utilities Month Hours 2,400 2,600 $18,500 $19,750 March April May 2,900 $23,740 $25,500 $18,350 $17,290 $17,150 $25,200 $24,100 June 3,100 July August September 1,950 3,150 2,100 1,900 October November 3,000 Using the High-Low method, calculate the variable cost per machine hour to the nearest penny.
1 AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component Revenue ts per Job $ 360 Actual Total for February $ 18,950 Technician wages $ 6,400 $ 6,450 Mobile lab operating expenses $ 2,900 $ 35 $ 4,530 Office expenses $ 2,600 $ 2 $ 3,050 Advertising expenses Insurance $ 970 $ 1,680 $ 995 $ 1,680 eBook Miscellaneous expenses $ 500 $ 3 $ 465 Ask eferences The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $2,900 plus $35 per job, and the actual mobile lab operating expenses for February were $4,530. The company expected to work 50 jobs in February, but actually worked 52 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (Indicate the effect of each…