The equivalent units and cost assign to equivalent units for direct material and conversion costs. Given information: Beginning: Degree of completion: direct material 100%; conversion costs; 25%. Ending: Degree of completion: direct material 100%; conversion costs; 70%. Beginning cost of work-process is $61,500. Total cost added during July 2014 is $301,380. Beginning cost of conversion is $43,200. Total conversion cost added during July 2014 is $498,624.

Question

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Answer 1

Question

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

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Answer 2

Question

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

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Answer 3

Question

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

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Answer 4

Question

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

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Answer 5

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

Answer 6

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

Answer 7

Chapter 17, Problem 17.25E

1.

To determine

To compute: The equivalent units and cost assign to equivalent units for direct material and conversion costs.

Given information:

Beginning: Degree of completion: direct material 100%; conversion costs; 25%.

Ending: Degree of completion: direct material 100%; conversion costs; 70%.

Beginning cost of work-process is $61,500.

Total cost added during July 2014 is $301,380.

Beginning cost of conversion is $43,200.

Total conversion cost added during July 2014 is $498,624.

Answer 8

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

Answer 9

2.

To determine

To explain: The method of process costing which is beneficial for the company with reason.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 17 - Give three examples of industries that use...Ch. 17 - In process costing, why are costs often divided...Ch. 17 - Explain equivalent units. Why are equivalent-unit...Ch. 17 - What problems might arise in estimating the degree...Ch. 17 - Name the five steps in process costing when...Ch. 17 - Name the three inventory methods commonly...Ch. 17 - Describe the distinctive characteristic of...Ch. 17 - Describe the distinctive characteristic of FIFO...Ch. 17 - Prob. 17.9Q Ch. 17 - Identify a major advantage of the FIFO method for...

To explain: The method of process costing which is beneficial for the company with reason.

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Chapter 17 Solutions