Sunset Inc. Plastics Company uses process costing and provided the following information for 2020: Units Percent Complete Percent Complete Direct Materials Conversion Costs    Work-in-process at January 1 18,000 30% 70%   Units started during the year 190,000   Work-in-process at December 31 30,000 80% 30% The cost of the beginning work-in-process included $103,750 for direct materials used and $54,380 for direct labor. Production costs during year were $603,250 for direct materials and $110,180 for direct labor. The company applies manufacturing overhead using direct labor costs. The manufacturing overhead rate for all years is 50% of direct labor. The cost transferred to finished goods inventory is:   Multiple Choice   $ 775,260   $ 862,600   $ 1,089,000 $ 857,960   Please don't provide answer in image format thank you

Q: Gena Company has several processing departments. Costs charged to Department     A or January 2020…

A: * As per Bartleby policy, we are supposed to answer first 3 sub parts in case question is having…

Q: Sheridan Company has the following equivalent units of production for July: materials 20000 and…

A: Production cost includes material cost and conversion cost. The equivalent cost can be calculated…

Q: Data table Beginning work in process (May 1)ª Started in May 2020 Reference Physical Units (Watches)…

A: Process Costing : Operation costing method employed to determine the value of a product at each…

Q: The sanding department of Blossom Furniture Company has the following production and manufacturing…

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

Q: ACC Inc is working on calculating cost information for September.       The beginning and ending…

A: The total manufacturing costs comprise the costs incurred during the period including direct…

Q: The Cowboy Company had the following department information for the month: Total materials costs…

A: Direct material cost per unit = Total Material Cost Equivalent units of materials = $60,00010,000…

Q: In Ramirez Company, materials are entered at the beginning of each process. Work in process…

A: Computation of equivalent units of production for materials and conversion cost for September is as…

Q: At the start of production, McKenzie Company adds all the raw materials that will be needed for…

A: Units completed are those units which are completed by an entity during a period. It represents the…

Q: X company follows weighted-average process costing. The company provided the following information…

A: WEIGHTED AVERAGE METHOD:— Under this method, equivalent units are calculated by adding equivalent…

Q: Prepare a production cost report for The Bottling department for the month of June? (You can use…

A: Process costing is one of important system of costing under which products needs to go through…

Q: Production Data-Basketballs Work in process units, July 1 Units started into production Work in…

A: Weighted average method: In the weighted-average method of process costing, the average cost of the…

Q: Equivalent Units of Materials Cost The Rolling Department of Kraus Steel Company had 4,200 tons in…

A: Equivalent units is generally used in Process Costing .  In Process type…

Q: The Scranton Processing Company had work in process at the beginning and end of March 2020 in its…

A: Two commonly used methods in process costing is Weighted Average and FIFO method.Equivalent units…

Q: 7. What is the equivalent units of production for materials? a. 42,000 b. 45,000 c. 48,000 d. 60,000

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Summer Company makes a single product in two departments. The production data for Department B for…

A: Inventory refers to the stock that is held by the company or is not sold yet which is expected to be…

Q: Production costs of the Finishing Department in June in Ivanhoe Company are materials $9,600, labor…

A: Cost per equivalent units :— It is calculated by dividing total costs by total equivalent units of…

Q: urrent Attempt in Progress Production costs of the Finishing Department in June in Oriole Company…

A: Equivalent units are calculated on the basis of percentage of work completed on the physical units.…

Q: Marigold Company has the following equivalent units of production for July: materials 23240 and…

A: The following formula used to calculate as follows under:-Cost per equivalent unit = (Beginning cost…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.