Using the same information as in Question 2, assume that the beginning Work in Process inventory for the Mixing Department had $12,000 in conversion costs; and that $30,000 in conversion costs were added during the month. What is the cost per equivalent unit for conversion costs? A. $3.50 B. $4.20 C. $5.00 D. $7.00

Q: Relevant examples of direct and indirect costs

A: Relevant examples of direct and indirect costs.

Q: Understand thedifferences between directand indirect costs

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: ustomizing cost

A: Cost accounting is one of the accounting system that is used by the businesses. The main purpose of…

Q: benefits of costing system

A: A costing system is prepared to analyze the costs incurred in a business organization. The system…

Q: What are some factors that affect variable costs?

A: Variable costs: A variable cost is a business expenditure that varies in proportion to manufacturing…

Q: Examples of transaction costs

A: Transaction costs are the costs which occur during buying or selling of services and goods. They are…

Q: what is period costs?

A:

Q: how to compute quantity/efficiency variance

A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…

Q: What is opportunity cost rate?

A: The opportunity cost is the cost of the option or alternative missed due to the acceptance of the…

Q: Discuss relevant cost.

A: Relevant cost term is used in making decision whether to buy or not.Whether to produce a goods or…

Q: What is the correlation between fixed, variable, and semi-variable costs??

A: Introduction:- Fixed Costs – Costs are same irrespective of the number of output produced Variable…

Q: Which costs make up “prime” costs？

A: Prime cost is that cost, which is directly concerned with the product such as direct material,…

Q: What is a relationship between fixed, variable and semi-variable cost?

A: Cost can be defined as the amount incurred upon the production of goods and services for the final…

Q: Define Cost recovery method

A: Cost recovery is a method in accounting wherein a business only records the revenue it earns from a…

Q: How is contribution margin calculated?

A: Contribution margin means sales revenue over and above the variable costs of production and selling…

Q: What is the difference between total costs and marginal costs?

A: Total cost is the total economic cost of production. Variable cost changes according to the quantity…

Q: Define Joint costs?

A: Joint Products: When two are more products are produced in a process using the same basic raw…

Q: How to calculate total prime cost

A: Meaning of Prime Cost: Prime costs are a firm's expenses directly related to the materials and labor…

Q: Define sunk cost

A: Companies when making crucial decisions about their operations consider relevant costs i.e. costs…