L Moving to another question will save this response. Question 24 The Rest-a-Lot chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 80,000 chairs, and transferred them to the Finishing Department. There were 15,000 chairs in beginning inventory, 30% complete of the process. The firm ended the month with 10,000 chairs in ending inventory, 80% complete of the process. All direct materials costs are added at the beginning of the process. Conversion costs are added uniformly. REQUIRED: What were the Rest-a-Lot company equivalent units for conversion costs during February? O a. 85,000. O b. 73,000. O C. 79,500. O d. 83,500.

L Moving to another question will save this response. Question 24 The Rest-a-Lot chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 80,000 chairs, and transferred them to the Finishing Department. There were 15,000 chairs in beginning inventory, 30% complete of the process. The firm ended the month with 10,000 chairs in ending inventory, 80% complete of the process. All direct materials costs are added at the beginning of the process. Conversion costs are added uniformly. REQUIRED: What were the Rest-a-Lot company equivalent units for conversion costs during February? O a. 85,000. O b. 73,000. O C. 79,500. O d. 83,500.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Do not give solution in image
Provide answer of this question
5. Lean Accounting Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $869,700 for 2,230 production hours. Each unit requires 12 minutes of cell process time. During March, 990 DVR players were manufactured in the cell. The materials cost per unit is $69. The following summary transactions took place during March: Materials were purchased for March production. Conversion costs were applied to production. 990 DVR players were assembled and placed in finished goods. 940 DVR players were sold for $260 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar.$fill in the blank c00542f5ffcb016_1 per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar.$fill in the blank c00542f5ffcb016_2 per unit c.…
Please avoid images in solutions thank you
A Chair Company manufactures a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 85,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 15,000 chairs in ending inventory. All direct materials are added at the beginning of the production cycle. How many chairs were in inventory at the beginning of the month? Using weighted-average costing, what were the equivalent units for materials for February? Using FIFO costing, what were the equivalent units for direct materials for February? Using weighted average costing, what were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs, and the ending inventory was 40% complete as to conversion costs?
2
4 Gibson Corporation makes a health beverage named Gibson that is manufactured in a two-stage production process. The drink is first created in the Conversion Department where material ingredients (natural juices, supplements, preservatives, etc.) are combined. On July 1. Year 2, the company had a sufficient quantity of partially completed beverage mix in the Conversion Department to make 54,000 containers of Gibson. This beginning inventory had a cost of $59,500. During July, the company added ingredients necessary to make 220,000 containers of Gibson. The cost of these ingredients was $385,000. During July, liquid mix representing 205,000 containers of the beverage was transferred to the Finishing Department. The beverage mix is poured containers and packaged for shipment in the Finishing Department. Beverage that remained in the Conversion Department at the end of July was 25 percent complete. At the beginning of July the Finishing Department had 12,000 containers of beverage mix.…
Lean Accounting Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $706,200 for 2,140 production hours. Each unit requires 12 minutes of cell process time. During March, 960 DVR players were manufacture the cell. The materials cost per unit is $66. The following summary transactions took place during March: 1. Materials were purchased for March production. 2. Conversion costs were applied to production. 3.960 DVR players were assembled and placed in finished goods. 4.910 DVR players were sold for $234 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit
Kenneth Corp. manufactures kitchen appliances and gadgets, like coffee makers and can openers. Recently, the company ramped up production of its iced coffee brewer, anticipating increasing demand in the market. For the month of April, Kenneth reported the following activity and cost information for its only production process dedicated to these coffee brewers. UNITS PLASTIC MESH CONVERSION COSTS Units in beginning WIP Inventory 800 Beginning WIP Inventory degree of completion 100% 100% 70% Costs in beginning WIP Inventory $ 3,205 $ 268 $ 2,343 New units started $ 13,500 Costs added to WIP Inventory this period $ 66,150 $ 6,200 $ 85,602 Units completed $ 13,200 Units in ending WIP Inventory $ 1,100 Ending WIP…
Subject: Acounting