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Production costs chargeable to the Finishing Department in July in Murdock Company are materials $9,000, labor $23,800, overhead $18,000. Equivalent units of production are materials 20,000 and conversion costs 19,000. Compute the unit costs for materials and conversion costs.
Problem
Data for Murdock Company are given in BE3-8. Production records indicate that 18,000 units were transferred out, and 2,000 units in ending work inprocess were 50% complete as to conversion cost and 100% complete as to materials. Prepare a cost reconciliation schedule.
Calculate the total work done in equivalent units and the unit cost for April. Calculate the cost of units completed and transferred. Also, compute the costs in ending work in process.
I am having to explain and provide detailed example of where activity base costing would be employed. I'm capable to describe ABC in length but can't come up with detailed example.
Make a budget plan for diet chocolate candy bars. Be sure to comperise all revenue sources and expenses associated with this particular product.
Near end of 2011, the management of Simid Sports Co., merchandising company, prepared the following estimated balance sheet for December 31, 2011: Simid Sports' single product is bought for $30 per unit and resold for $60 per unit.
Pacheco, Inc., manufactures two products, overs and unders, in single process. The joint costs of this process were $50,000, and 14,000 units of overs and 36,000 units of unders were produced.
Write down the benefits of standard costs and how do businesses set those standards.
Hannon Company has 1,600 pounds of raw materials in its December 31, 2011, ending inventory. Needed production for January and February of 2012 are 4,000 and 5,500 units, respectively.
Calculate the cost per equivalent unit for each of the 3 cost items and in total. Calculate the cost of items completed in Aug and the cost of ending work in process inventory. Reconcile the sum of the 2 costs in part b to the sum of beginning WIP an..
Summarize the GASB rules that govern an SPE health care organization (like a hospital). Summarize the FASB rules that govern the private not-for-profit health care organization.
Advise managers whether or not this contract is profitable. Evaluate any additional information that managers need to consider before accepting or rejecting this contract
You will complete an industry analysis of a U.S. industry of your choosing. Each student must choose a different industry. The following is a suggested outline.
A firm currently has a 36 day cash cycle. Assume that the firm changes its operations such that it decreases its receivables period by 4 days, increases its inventory period by 1 day and decreases its payable period by 2 days.
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