User Account

All Pages

Determine the equivalent units of production

Assignment Help Accounting Basics
Reference no: EM13172271

Fairfax Company uses weighted-average process costing to account for its production costs. Direct labor is added evenly throughout the process. Direct materials are added at the beginning of the process. During September, the company transferred 735,000 units of product to finished goods. At the end of September, the goods in process inventory consists of 207,000 units that are 90% complete with respect to labor. Beginning inventory had $244,920 of direct materials and $69,098 of direct labor cost. The direct labor cost added in September is $1,312,852, and the direct materials cost added is $1,639,080.

Required

 1.  Determine the equivalent units of production with respect to (a) direct labor and (b) direct materials.

 2.  Compute both the direct labor cost and the direct materials cost per equivalent unit.

 3.  Compute both direct labor cost and direct materials cost assigned

Shaw, Ken; Wild, John; Chiappetta, Barbara (2011-12-01).Fundamental Accounting Principles (Page 846). Business And Economics. Kindle Edition.

Reference no: EM13172271

Questions Cloud

Critical reasoning and the author is by jerry cederblom : This assignment is based on critical reasoning and the author is by Jerry Cederblom and David W. Paulsen.This book is the seventh edition.
Use a diagram to illustrate how economic growth is shown : Suppose that the nation with the initial  PPF  given in the table enjoys a technological breakthrough that enables it to double the production of tractors at each level of food production. Use a diagram to illustrate how economic growth is shown usin..
Draw an rea diagram-data modeling and database design : Data modeling and database design,  Draw an REA Diagram,  Draw an REA diagram for Sparky’s revenue cycle only. Be sure to include cardinalities. State any assumptions you had to make.
Tic-tac-toe game assignment : Assignment 1(Java): Tic-Tac-Toe Game (Assignment 1 is attached),  Use the concepts and scenario from Assignment 1 and continue with the tic-tac-toe game design and development.  Section 1: Java Program File, The following method, numPaths, is suppos..
Determine the equivalent units of production : Determine the equivalent units of production with respect to (a) direct labor and (b) direct materials. Compute both the direct labor cost and the direct materials cost per equivalent unit.
State the column required for the best purification : Give the steps to prepare the column required for the best purification of 0.40g of crude product using silica
Compute the rate of water removal from the condenser : Calculate the rate of water removal from the condenser, the rate of dehumidified (1.50% water) air delivered to the house, and the flow rate and composition of the humid air entering the condenser
State what is the approximate ph at the equivalence point : What is the approximate pH at the equivalence point of a weak acid-strong base titration if 25 mL of aqueous formic acid requires
State decreased to one-third of its original pressure : The pressure of 4.57 L of an ideal gas in a flexible continer is decreased to one-third of its original pressure, and its kelvin temperature is decreased by one half

Reviews

Write a Review

Accounting Basics Questions & Answers

  Aount of bond interest expense

A company issued 300,000 of 20-year, 8 percent bonds at 96. If interest is paid semiannually, what is the amount of bond interest expense recorded on any interest date?

  Sales and collection patterns

Compare the sales and collection patterns before and after the arrival of the new sales manager. Have things improved or deteriorated? Explain. On the basis of the information presented, determine what likely caused the improvement or deterioratio..

  Liquidity and profitability

Distinguish between liquidity and profitability.

  Financial statement fraud

Is there a difference between financial statement fraud and other types of fraud? How does the definitions differ (if they do)? Should there be a distinction between the two or not?

  Comprehensive income with example

Determine how the authoritative literature addresses comprehensive income and illustrate with an example.

  Total amount of the credit sales

If the collection period of a company is 31 days, and average receivables is $70,060, what is the total amount of the credit sales?

  Ending finished-goods inventory cost under variable costing

What is the ending finished-goods inventory cost under absorption costing? What is the ending finished-goods inventory cost under variable costing?

  Find gain in the year the involuntary conversion occurred

on an involuntary conversion in which the taxpayer does not buy replacement property within the replacement period the gain on the involuntary conversion and any tax due must be reported.

  Sec 79 personal property deduction

Tommy purchases and places in service in 2011 personal property costing $900,000. What is the maximum Sec. 179 deduction that Tommy can deduct, ignoring any taxable income limitation?

  Preparing an appropriate journal entry

Prepare an appropriate journal entry to indicate the impact of the transactions on the city's fund financial statements for the year ending December 31, 2011.

  Determining the economic value of us division

Bella Vista’s U.S. Division reported sales of $300,000-The economic value added of the U.S. Division is

  First payment from an annuity

This year Larry received the first payment from an annuity that promises to pay him $3,000 per month for the rest of his life. The IRS tables indicate that given Larry's age, he should expect to receive 310 monthly payments.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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