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During May, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 38,900 were in process in the production department at the beginning of May and 164,500 were started and completed in May. May’s beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of May, 52,700 additional units were in process in the production department and were 70% complete with respect to materials and 20% complete with respect to conversion. The production department had $617,874 of direct materials and $485,448 of conversion cost charged to it during May. Its beginning inventory included $75,475 of direct materials cost and $29,893 of conversion cost.
Compute the number of units transferred to finished goods.
How do accounting methods and measurements impact lean practices? What can accounting personnel do to encourage or to discourage lean processes.
Determine an equation for electricity cost (Y) as a function of units produced (X). Assume a linear function and Using your equation, forecast electricity cost at a volume of 29,000 units produced.
If cost of goods manufactured is $960,000, evaluate what is the cost of ending work in process inventory?
In 2014, X Company's profits were $158,000. In 2015, the selling price is expected to be $38.80, the variable cost per unit is expected to be $25.10, and total fixed costs are expected to be $190,000. How many units must X Company sell in 2015 in ord..
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Journalize the entries to record the operations, identifying each entry by letter. Compute the July 31 balances of the inventory accounts. Compute the July 31 balances of the factory overhead accounts.
At the end of 2012, Mathis industries had a deferred tax asset account with a balance of $120 million attributable to a temporary book-tax difference of $300 million in a liability for estimated expenses. At the end of 2013, the temporary difference ..
What financial ratios would you use to measure the ability of a company to pay its liabilities? What would each of the ratios that you identified tell you? Be specific.
The company is in the process of preparing a cash budget and must determine expected cash collections by month. To this end, the following information has been assembled:
In 2010, net income was $900,000 and dividends declared were $250,000. The tax rate is 40%. Prepare a 2010 retained earnings statement for Beidler Company.
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