Compute the costs per equivalent unit of materials

Assignment Help Accounting Basics
Reference no: EM132182043

Question - At the beginning of the month, the Painting Department of Skye Manufacturing had 35,000 units in inventory, 70% to materials, and 20% to conversion. The cost of the beginning inventory, $43,650, consisted of $37,400 of material costs and $6,250 of conversion costs. During the month the department started 130,000 units and transferred 142,500 units to the next manufacturing department. Costs added in the current month consisted of $302,800 of materials costs and $651,050 of conversion costs. At the end of the month, the department had 22,500 units in inventory, 30% to materials and 10% to conversion. If Skye Manufacturing uses the weighted average method of process costing, compute the costs per equivalent unit of materials and conversion respectively for the Painting Department.

$2.28; $4.54.

$1.94; $4.47.

$2.31; $4.60.

$2.31; $4.47.

$2.73; $4.77.

Reference no: EM132182043

Questions Cloud

What is the amount of gain or loss on redemption : Premium on Bonds Payable has a balance of $9,526. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption
Determine the bond interest expense for the year ended : Queen records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31
What is the purpose of the declaration of helsinki : What specific OB concepts or principles do you think are directly related to manager KPI success?
Calculate the equivalent units of production : A total of 91,000 were finished during the period, Using the weighted-average method, the equivalent units of production with regard to direct labor were
Compute the costs per equivalent unit of materials : If Skye Manufacturing uses the weighted average method of process costing, compute the costs per equivalent unit of materials
Customers from a different culture : What factors should I consider in evaluating managers, employees, and customers from a different culture?
Compute cash payments to suppliers : The income statement for Glazed Ham shows cost of goods sold $840,000, Compute cash payments to suppliers and cash payments for operating expenses
What does this mean and why is it important : A team leader's behavior and actions serve as a role model for other members of the team. What does this mean and why is it important?
Roles in budgeting for company : Which components of the organization should play which roles in budgeting for that company?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the company margin of safety percentage

The Grant Company has sales of sales of $300,000, and the break-even point in sales dollars if $210,000. Determine the company's margin of safety percentage

  Determine how many units the company should produce

Use the information to determine how many units the company should produce to generate highest income from operations using variable costing income statements

  Prepare the journal entry to record this transaction

Accumulated depreciation is $16,000. The furniture was sold for $3,800. Prepare the journal entry to record this transaction

  Determine how much cash will increase

Use this information to determine how much cash will increase (decrease) during the month of October

  Roles of accountants and auditors

What is the differences and similarities between the roles of accountants and auditors. What additional expertise must an auditor possess beyond that of an accountant?

  How much overhead cost will be charged to the two products

Scoresby Co. uses 6 machine hours and 2 direct labor hours to produce Product X. How much overhead cost will be charged to the two products?

  Record the valuation account

(Deferred Tax Asset with and without Valuation Account) Jennifer Capriati Corp. has a deferred tax asset account with a balance of $150,000 at the end of 2013.

  What profit or loss would security brokers incur

Security Brokers Inc. specializes in underwriting new issues by small firms. On a recent offering of Beedles Inc., the terms were as follows.

  The boston culinary institute is evaluating a classroom

the boston culinary institute is evaluating a classroom remodeling project. the cost of the remodel will be 300000 and

  How much would dart industries total income

If a transfer price of $145 per unit is established and 40,000 units of materials are transferred, how much would Dart Industries' total income

  Multiple irr problems

1. When does the multiple IRR problems occur? Heinrich, Inc. is considering building a new manufacturing facility on a plot of land they bought ten years ago for $2,000,000. The land currently has a market value of $1,500,000. What is the appropria..

  Describe the characteristics of these managers

What type of management is generally needed to run a portfolio company owned by a private equity firm? Describe the characteristics of these managers.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd