Please help me with all answers and do not give solution in image format thanku Nash Corp. manufactures kitchen appliances and gadgets, like coffee makers and can openers. Recently, the company ramped upproduction of its iced coffee brewer, anticipating increasing demand in the market. For the month of April, Nash reported the followingactivity and cost information for its only production process dedicated to these coffee brewers.Units in beginning WIP InventoryBeginning WIP Inventory degree of completionCosts in beginning WIP InventoryNew units startedCosts added to WIP Inventory this periodUnits completedUnits in ending WIP InventoryEnding WIP Inventory degree of completion(a)Total cost of units completedUnitsCost of units in ending WIP Inventory80014,300Account Titles and Explanation14,200900Plastic100%$3,547$71,500The conversion costs are added evenly throughout this manufacturing process.100%Mesh100%$7,370$298Debit0%Conversion Costs70%Assuming Nash Corp. uses the FIFO method of process costing, complete Steps 1 to 5 in the template to determine the cost ofunits completed in April as well as the cost of units in ending WIP Inventory in April. (Round cost per equivalent unit to 2 decimalplaces, e.g. 15.25 and final answers to O decimal places, e.g. 5,125.)$2,305$93,19730%Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter O for the amounts. List debit entry before credit entry.)Credit (b)At approximately what stage of processing is the plastic material added to the units?At approximately what stage of processing is the mesh material added to the units?Assuming instead that Nash Corp. uses the weighted-average method of process costing, complete Steps 1 to 5 in the template todetermine the cost of units completed in April as well as the cost of units in ending WIP Inventory in April. (Round cost perequivalent unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,125.)Total cost of units completed$Cost of units in ending WIP Inventory $Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter O for the amounts. List debit entry before credit entry)Account Titles and ExplanationDebitCredit

The First-in-First-out is the inventory valuation technique according to which assets created or…

Nash 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, Nash reported the following activity and cost information for its only production process dedicated to these coffee brewers. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion Units 800 14,300 14,200 900 Plastic 100% $3,547 Mesh 100% 100% $71,500 $7,370 The conversion costs are added evenly throughout this manufacturing process. $298 0% Conversion Costs 70% $2,305 $93,197 30%

Nash 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, Nash reported the following activity and cost information for its only production process dedicated to these coffee brewers. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion Units 800 14,300 14,200 900 Plastic 100% $3,547 Mesh 100% 100% $71,500 $7,370 The conversion costs are added evenly throughout this manufacturing process. $298 0% Conversion Costs 70% $2,305 $93,197 30%

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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