All materials are added at the beginning of the production
Course:- Accounting Basics
Reference No.:- EM13601500

Assignment Help
Assignment Help >> Accounting Basics

Beginning Inventory: units=3,000; material costs=$4,500; conversion costs=$4,800

Started During the
Current Period : units=20,000; material costs=$48,000; conversion costs=$72,100
Ending Inventory : units=2,500

All materials are added at the beginning of the production process. The beginning inventory was 30% complete as to conversion, while the ending inventory was 40% completed for conversion purposes.FIFO Aluminum uses FIFO system of product costing.
Calculate the cost of goods completed and transferred out and the dollar amount in End Work-In-Process.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Compute the new break-even point. What strategies might Boing use to help assure profitable operations in light of increases in variable costs?
Smart Cookie International Expansion -Apply SWOT, Porter's Five Forces, or the BCG Matrix to analyze Kraft's strategic plan to expand into international markets. How would y
Construct a correct, flexible and documented spreadsheet model that will allow varying inputs and resulting revenue, costs and profit. Check the base case above to see if th
Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the tot
Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at Dec 31. Year 2 would be reduced by ?
Assume that you are the controller of a small, growing sporting-goods company. The prospects for your firm in the future are quite good, but like many other firms, it has be
The authorized stock of a corporation: a. only reflects the initial capital needs of the company. b. is indicated in its by-laws. c. must be recorded in a formal accounting en
What is the effective borrowing cost on the loan if the lender charges 3 points at origination and the loan goes to maturity and what is the effective borrowing cost on the l