Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: Beginning work in process inventory 4,500 items, 1/4 complete Units placed in production Units completed Ending work in process inventory Cost of beginning work in process Direct material costs, current Conversion costs, current 15,000 units 17,500 units 2,000 items, 3/4 complete P5,250 P16,500 P23,945 The company uses FIFO Method Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.

Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: Beginning work in process inventory 4,500 items, 1/4 complete Units placed in production Units completed Ending work in process inventory Cost of beginning work in process Direct material costs, current Conversion costs, current 15,000 units 17,500 units 2,000 items, 3/4 complete P5,250 P16,500 P23,945 The company uses FIFO Method Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: please give me the specific data and numbers only tiped solution

A: The objective of this question is to understand the importance of data visualization and how it can…

Q: Provide the following: Compute and explain the break-even point in sales dollars for 2022. Compute…

A: Computation of BEP for 2022:BEP (in units) = Fixed cost / Contribution per unit…

Q: Use the following data to prepare a model that allocates the support departments using the three…

Q: You are the project manager for a technical implementation project. The customer has requested that…

A: Summary of question:Project manager has been requested by the customer to factor in after the…

Q: Note that the data provided gives lumen hours per hour of labour, not hours of work required to…

A: Cost accounting system:The cost accounting system refers to the method that will be used by the…

Q: None

A: Analyzing Delivery Data with Excel: This guide will walk you through creating an Excel sheet to…

Q: Supporting Calculations-Weighted Average Method Laboratories, Inc., produces one of its products in…

A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…

Q: atch each item with the correct statement below. A process that answers the question "How many…

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

Q: Piscuss 3 uses of a Čost of Production Report. Also dis

A: Definition and explanationThe cost of production report (CPR) may be a document utilized in method…

Q: The Chapter 6 Form worksheet is to be used to create your own worksheet version of the Review…

Q: Greenwood Company manufactures two products-13,000 units of Product Y and 5,000 units of uses a…

A: The activity rate is calculated as estimated activity cost divided by estimated usage for the…

Q: Data Sales price.. $ Variable manufacturing expense per unit ..... $ Sales commission expense per…

A: Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…

Q: Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g.…

A: Process costs It is a method of cost accounting, which is used where the production is continuous,…

Q: IN EXCEKL FORMAT

A: To solve the assignment problem and determine the optimal assignment with the minimum total cost,…

Q: Fill in the blanks in the schedule below for two separate investment centers A and B. Investment…

A: Return on investment helps in measuring the performance by evaluating the profit and efficiency of…

Q: Determine the manufacturing cost per unit for each of the products using the volume-based method.…

A: 1) Volume based method :-Predetermined overhead = estimated overhead / Estimated direct labor…

Q: Prairie Fields Bakery is a bakery specializing in pies. They are exploring options for expanding…

A: Magin of safety refers to the cushion available to a business above a point below which if the sales…

Q: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the…

A: Hi studentSince there are multiple subparts asked, we will answer only first three subparts.The…

Q: please give me the spesific data and numbers only tiped solution

A: The objective of this question is to understand the importance of data visualization and how it can…

Q: Cost-estimating relationships (CER) have been defined that allow design variables (like speed,…

A: a cost estimating relationship (CER) is a technique used to estimate a particular cost or price by…

Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

100%

UPVOTE WILL BE GIVEN! INPUT THE COMPLETE SOLUTIONS. YOU MAY USE EXCEL. BOX THE FINAL ANSWERS. c. Calculate for the total manufacturing cost per unit? d. How much is the total cost for Started and Completed?

Pet Products Company uses an automated process to manufacture its pet replica products. For June,
the company had the following activities:
Beginning work in process inventory 4,500 items, 1/4 complete
Units placed in production
Units completed
Ending work in process inventory
Cost of beginning work in process
Direct material costs, current
Conversion costs, current
15,000 units
17,500 units
2,000 items, 3/4 complete
P5,250
P16,500
P23,945
The company uses FIFO Method
Direct materials are placed into production at the beginning of the process and conversion costs are
incurred evenly throughout the process.

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

None
Please help me with all answers thanku
Answer ALL the questions in this section. Shade the letter that corresponds to the most appropriateanswer on the answer sheet provided.2. Equivalent units of production(A) will always be greater than or equal to the physical units(B) are a measure of the number of complete units that could have been manufacturedfrom start to finish using the costs incurred during the period(C) are calculated for materials but not for conversion costs(D) are units of a new product that are essentially the same as the units of an existingproduct 5. The cash budget is part of the(A) Revenue budget(B) Operating budget(C) Financial budget(D) Budgeted balance sheet 6. Under variable costing, which manufacturing cost is expensed as a period cost?(A) Direct materials(B) Variable manufacturing overhead(C) Fixed manufacturing overhead(D) Direct labour 7. Under variable costing, which of the following costs are assigned to inventory?Variable Selling &Administrative CostsVariable FactoryOverhead Costs(A) Yes…
Please do not give solution in image format thanku
H3. Account
Convert the accompanying database to an Excel table to find: a.The total cost of all orders. b.Thetotal quantity of airframe fasteners purchased. c. The total cost of all orders placed with Manley Valve. Question content area bottom Part 1 a. The total cost of all orders is $?????? enter your response here.
Checklist of evidence required Finally, you should reflect on the results of your activity-based costing exercise, by: a) explaining how costs are categorised. b) identifying those cost areas that have the greatest impact on the profitability of the product that you have investigated. c) evaluating the reasons for producing an activity-based cost model. d) explain how ABC model used to improve profitability. A research and problem solving project to explore the costs associated with engineering activities and to complete an activity-based cost model for a product.
Activity-Based Costing CardioTrainer Equipment Company manufactures stationary bicycles and treadmills. The products are produced in the Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $22 per machine hour (mh) Assembly $12 per direct labor hour (dlh) Setup $40 per setup Inspecting $18 per inspection Production scheduling $8 per production order Purchasing $5 per purchase order The activity-base usage quantities and units produced for each product were as follows: Stationary Bicycle Treadmill Machine hours 1,680 1,070 Direct labor hours 243 131 Setups 45 20 Inspections 158 94 Production orders 60 32 Purchase orders 240 98 Units produced 500 350
The relevant range refers to: Select one: Ⓒa. a particular range of production where cost behavior remains the same. b. a particular range of production wherein fixed costs remain constant. c. a particular range of production where total contribution margin remains the same. d. a particular range of production where no mixed costs are incurred. Q Search with Bing 0 ***
PLEASE ANSWER THIS WITH 5 paragraphs. Write it as if you're a memo. Concepts of Relevant cost.
I have resubmiteted my question. Can you help me to find the solution to these problems?
Please do not give solution in image format thanku