Units started 100,000 Work in process, beginning (35% complete) Work in process, end (70% complete) Transferred out Work in process beginning costs: Materials Conversion 20,000 14,500 97,000 60,000 40,000 All materials are added at the start of the process. The company inspect goods at as to conversion. The cost per EUP for the current month are P4 and P6 fo conversion costs, respectively. Normal spoilage is 3.5% of the current month average method is used. How much is the cost assigned to the transferred-out units?
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
25. The following information pertains to the production of Beautiful Company for the month of January 2022: SHOWN IN PICTURE
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