Product cost report for the month of January in Churning Department.

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Answer 1

Question

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

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SUBJECT - GENERAL ACCOUNT Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $14,114. Of the $14,114, $8,395 was for material and $5,719 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $25,963. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $33,809 and factory overhead was $19,934. If the average cost method is used what would be the conversion cost per unit? a. $1.91 b. $5.31 c. $3.45 d. $1.73

Answer 2

Question

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Answer 6

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

Answer 7

Chapter 5, Problem 5.42BE

1.

To determine

Product cost report for the month of January in Churning Department.

Answer 8

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

Answer 9

2.

To determine

Cost per unit of a pound of butter produced in the Churning Department.

Answer 10

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Answer 11

3.

To determine

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 5 - (Learning Objective 1) Which of the following is...Ch. 5 - (Learning Objective 2) Conversion costs consist of...Ch. 5 - (Learning Objective 2) Which of the following is...Ch. 5 - (Learning Objective 3) Which of the following is...Ch. 5 - Prob. 5QC Ch. 5 - (Learning Objective 4) The journal entry needed to...Ch. 5 - (Learning Objective 4) A company has two...Ch. 5 - Prob. 8QC Ch. 5 - Prob. 9QC Ch. 5 - Prob. 10QC

Product cost report for the month of January in Churning Department.

Solution Summary: The author explains the product cost report for Churning Department for the month of January.

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Product cost report for the month of January in Churning Department.

Cost per unit of a pound of butter produced in the Churning Department.

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Want to see the full answer?

Chapter 5 Solutions

Product cost report for the month of January in Churning Department.

Solution Summary: The author explains the product cost report for Churning Department for the month of January.

Concept explainers

Videos

Product cost report for the month of January in Churning Department.

Cost per unit of a pound of butter produced in the Churning Department.

The cost per unit of butter in ending inventory in Churning Department. To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.

Want to see the full answer?

Chapter 5 Solutions

The cost per unit of butter in ending inventory in Churning Department.

To conclude: Whether knowing the cost of partially completed butter, lying in the ending inventory, does makes sense or not.