Suppose that a final assembly is produced byassembling two components. The first component,component A, is produced in-house and proceededthough three process steps, blanking, forging, andmachining, with scrap estimates of 5%, 8%, and 5%,respectively. Two units of component A are used ineach final assembly. The second component,component B, is inspected upon arrival; 10% failinspection. One unit of the purchased componentis required for each final assembly. The finalassembly process produces 5% scrap. The demandfor the spare parts of component A and the finalassembly are 500 and 5,000 units, respectively.How many units of component B need to bepurchased?Group of answer choices6148594860485848None of them is correct.

Here in this question, we are required to determine how many unit of component B needs to purchased.…

Answered: Suppose that a final assembly is…

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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Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 65,000 units. ● Transferred out, 62,000 units. Ending inventory, 36,000 units (materials are 100 percent complete; conversion costs are 65 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. a. Materials b. Conversion costs Equivalent Units
The Molding Department of Swifty Company has the following production data: beginning work in process 24600 units (60% complete), started into production 470400 units, completed and transferred out 444600 units, and ending work in process 50400 units (40% complete). Assuming all materials are entered at the beginning of the process, equivalent units of production for materials are: 444600. 420000. 520800. 495000.
The Refining Department of Crystal Cane Sugar, Inc. had 65,000 tons of sugar to account for in December. Of the 65,000 tons, 45,000 tons were completed and transferred to the Boiling Department, and the remaining 20,000 tons were 70% complete. The materials required for production are added at the beginning of the process. Conversion costs are added equally throughout the refining process. The weighted−average method is used. Calculate the total equivalent units of production for conversion costs. A. 65,000 units B. 45,000 units C. 59,000 units D. 14,000 units
Bhojraj Fabricators Inc. machines metal parts for the automotive industry. Under the traditional manufacturing approach, the parts are machined through two processes: milling and finishing. Parts are produced in batch sizes of 70 parts. A part requires 3 minutes in milling and 8 minutes in finishing. The move time between the two operations for a complete batch is 9 minutes. Under the lean philosophy, the part is produced in a cell that includes both the milling and finishing operations. The operating time is unchanged; however, the batch size is reduced to 3 parts and the move time is eliminated. Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the traditional and lean manufacturing methods. If required, round percentages to one decimal place. Line Item Description Traditional Philosophy Lean Manufacturing Philosophy Value-added time Non-value-added time Total lead time 779 33 Value-added ratio (as a percent)
North Company designs and manufactures machines that facilitate DNA sequencing. Depending on the intended purpose of each machine and its functions, each machine is likely to be unique. The job costing system in its Norfolk plant has five activity cost pools, in addition to direct materials and direct labor. Job TPY-2306 requires 1,000 printed-circuit boards. The cost per board that passes the final inspection is $240. On average, only 50% of the completed units pass the final inspection. The prime costs per completed board include $25 for direct materials and $7 for direct labor. Required: Information pertaining to manufacturing overhead for printed-circuit boards follows: Fill in the missing amount. (Round your answers to 2 decimal places.) Activity Axial insertion Hardware insertion Hand load Masking Final test Cost Driver Number of axial insertions Number of hardware insertions Boothroyd time Number of points masked Test time 60.40 60.64 10.00 ( G 3 Help A 112 Save & Ch
Mobil Manufacturing purchases a liqid raw material. The material was refined into 3 complete products; neon, argon, and xenon. In the manufacturing process, the 3 products undergo a joint process that has a total cost of $160,000, which includes the cost of the liquid raw material. We learn that 25,000 gallonw of argon can be sold for $45,000 immediately after the completion of the joint production process, without any further processing. 30,000 gallons of xenon are processed in a second department for an extra cost of $66,000 and was sold for $120,000. 60,000 gallons of neon was processed in a third department at an extra cost of $119,000 and was sold for $175,000. Both xenon and neon can be sold at the split-off point for $40,000 and $60,000. Question: Show the allocation of the joint costs among the 3 products using physical unit method, sales value at split-off method, and constant gross margin method.
Crane's woodworking business produces two products from its joint process: one main product (sanded and finished trim pieces) and one by-product (sawdust/shavings). The joint process has a cost of $31,000, which results in trim pieces worth $47,000 and sawdust/shavings that can be sold for $2,800. If Crane uses the production method to account for by-products, determine how much of the joint process cost will be allocated to each product. In other words, how much inventory cost will be recorded for each product? Main product By-product Allocated joint costs $
Solve all the parts within 30 mins.
Klassen Toy Company, Inc., assembles two parts (parts 1 and 2): Part 1 is first processed at workstation A for 10 minutes per unit and then processed at workstation B for 15 minutes per unit. Part 2 is simultaneously processed at workstation C for 12 minutes per unit. Work stations B and C feed the parts to an assembler at workstation D, where the two parts are assembled. The time at workstation D is 20 minutes. a) The bottleneck of this process is workstation D at 20 minutes per unit (enter your response as a whole number). b) The hourly capacity of the process is units (enter your response as a whole number).
Douglass Minerals mines ore and then processes it into other products. At the end of the mining process, the ore splits off into three products: Metal-A, Metal-B, and Metal-C. Douglass sells Metal-C at the split-off point, with no further processing. Metal-A is processed in Plant A, and Metal-B is processed in Plant B. The following is a summary of costs and other related data for the period ended December 31: Process: Mining Plant A Plant B Labor $ 470,000 $ 406,000 $ 278,000 Manufacturing overhead $ 386,000 $ 338,800 $ 134,000 Products Metal-A Metal-B Metal-C Units sold 224,000 176,000 76,000 Units in ending inventory (December 31) 76,000 0 64,000 Sales revenue $ 1,120,000 $ 584,000 $ 190,000 Douglass Minerals had no beginning inventories on hand at the beginning of the period. Douglass Minerals uses the net realizable value method to allocate joint costs. Required: Compute the following: The net realizable value of Metal-C for the period ended December…
The Converting Department of Comfy Touch Towel and Tissue Company had 1,040 units in work in process at the beginning of the period, which were 60% complete. During the period, 21,600 units were completed and transferred to the Packing Department. There were 1,160 units in process at the end of the period, which were 30% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank. Comfy Touch Towel and Tissue Company Number of Equivalent Units of Production Direct Units Materials Conversion Whole Equivalent Units Equivalent Units Inventory in process, beginning 00000 Started and completed Transferred to Packing Department Inventory in process, ending Total
Dura-Conduit Corporation manufactures plastic conduit that is used in the cable industry.A conduit is a tube that encircles and protects the underground cable. In the process for making the plastic conduit, called extrnsio11, the melted plastic (resin) is pressed through a die to form a tube.Scrap is produced in this process. Information from the cost of production reports for three months is as follows, assuming that inventory remains constant: Assume that there is one-half pound of 1·esin per foot of the finished product. Determine the resin materials cost per foot of finished product for each Round to the nearest whole cent. Determine the ratio of the number of resin pounds output in conduit by the number of pounds input into the process for each month. Round percentages to one decimal pl Interpret the resin materials cost per foot for the three months.Use the information in (a) and (b) to explain what is happening. Determine the conversion cost per foot of finished product…

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