At current production volume of 100 units, fixed costs are $10 per unit andvariable costs are $4 per unit. Production is expected to increase to 120 unitsin the next period. This is a short-term change within the relevant range.Predict total costs for the next period.$1,680$1,480O $1,400$1,600$480

The variable cost is fixed per unit but varies as per change in production.…

Answered: Volume of 100 units, on vo

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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please read the first picture and answer questions on the second page. Thanks for your time
A company purchased inventory as follows: 160 units at $8 320 units at $5 The average unit cost for inventory is Select one: a. $6.00. b. $7.50. C. S7.00. d. $6.70. Previous
Required information Use the following information for the Quick Study below. (Static) [The following information applies to the questions displayed below.] A process manufacturer reports the following: Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Total Units 150,000 310,000 340,000 120,000 Conversion Percent Complete 80% QS 16-5 (Static) Weighted average: Computing equivalent units of production LO P1 25% Compute the total equivalent units of production for conversion. The company uses the weighted average method. Units Equivalent units of production: Weighted average method Conversion Percent Complete EUP
Accounting Subject
5. Develop an MRP spreadsheet record for six periods using the following parameters for the item: Period 1 2 3 4 5 Gross requirements 20 20 40 30 30 30 Lead time 1 period Lot size 50 units Safety stock Inventory Scheduled receipt O units 2 units 50 units in period 1 a. In what periods are there planned order releases? b. What happens to the timing, number of planned order releases, and average inventory (for periods 1 through 6) if 15 units of safety stock are required? c. What happens to the timing, number of planned order releases, and average inventory (for periods 1 through 6) if a one-week safety lead time is used instead of the safety stock?
EQUIVALENT UNITS—WEIGHTED AVERAGE METHODThe following data are for four independent process-costing departments. Inputs areadded continuously.ABCDBeginning inventory 3,000 2,000 — 25,000Percent completion 30% 75% — 60%Units started 19,000 20,000 48,000 35,000Ending inventory 4,000 — 8,000 10,000Percent completion 20% — 25% 10%Required:Compute the equivalent units of production for each of the preceding departments using the weighted average method.
Question 3: Process Costing Cannondale Bicycle Company manufactures various lines of bicycles. Because of the high volume of each type of product, the company employs a process cost system to determine unit costs. Bicycle parts are manufactured in the Moulding Department and transferred to the Assembly Department where they are assembled. After assembly, the bicycles are sent to the Packing Department. Cost and production figures for the Assembly Department are presented below for the month of June: Production Data (in unit) 70,000 Beginning WIP Inventory (70% complete as to material; 40% complete as to conversion) Started in June Completed and transferred out Ending WIP Inventory (75% complete as to material; 25% complete as to conversion) 460,000 450,000 80,000 Cost Data (in dollar) Material Conversion $36,550 $391,850 $13,500 Beginning WIP Inventory Current period $287,300 Required: (a) Determine the cost per equivalent unit for the Assembly Department's direct materials and…
two questions
! Required information Use the following information for the Exercises below. (Algo) 1 [The following information applies to the questions displayed below.] The first production department in a process manufacturing system reports the following unit data. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory 29,400 units 68,600 units 98,000 units 16,900 units Exercise 3-4 (Algo) Weighted average: Computing equivalent units LO P1 Prepare the production department's equivalent units of production for direct materials under each of the following three separate assumptions using the weighted average method for process costing.
Describe the events that correspond to the following two journal entries: 1. Inventory .. Accounts payable 2. Accounts receivable ... 20,000 20,000 .... 30,000 30,000 Sales revenue. Cost of goods sold Inventory .. 18,000 18,000
The following data show the units in beginning work in process inventory, the number of snits started, the number of units transferred, and the penant completion of the beginning of the process. Beginning Transferred Conversion Quarter WIP Started Out (1) 134,200 133,400 132,591 132,490 25 24 20 133,245 133,464 480 134,843 134,132 22 What are the equivalent units for material and conversion costs for each quarter using the weighted average method Assume that the quarters are Quarter 2 Quarter 3 Quarter 4 2 3 524 339 Units for material costs Units for conversion costs Quarter 1

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