Reference no: EM131102178
Hobart Beverage Company uses the weighted-average method in its process costing system. Materials are included at the start of the production process but conversion costs are uniformly applied throughout the production process.
The following data about the Packaging Department were taken from the company's accounting records:
- In 1 January 2016, there were 20,000 units in the work in process inventory that were 40% completed and 150,000 units in the finished goods inventory.
- The company sold 300,000 units during January.
- There were 32,000 units, which were 75% complete as to conversion costs, in the work in process inventory and 120,000 units in the finished goods inventory at the end of January.
- Cost data are summarized below: WIP 1 January 2016 Cost per equivalent unit Direct Materials $ 34,900 Materials $2.45 Conversion costs $ 41,500 Conversion $3.15
Required:
1. How many units were transferred from the Packaging Department to the Finished Goods Department during the month?
2. What were the equivalent units of production for direct materials and conversion costs for the month of January?
3. Compute the total costs incurred in January for (a) materials and (b) conversion
Increased government purchases of goods and services
: Assume that capital is perfectly mobile, the price level is fixed, and the exchange rate is flexible. Now let the government increase purchases. Explain first why the equilibrium levels of output and the interest rate are unaffected. Then show whethe..
|
Procedure results in a binomial distribution
: Determine whether or not the given procedure results in a binomial distribution. For those that are not binomial, identify at least one requirement that is not satisfied.
|
Explain the various versions of social contract theory
: Explain the various versions of social contract theory with supporting citations to the textbook and online lectures in correct APA format. Use this APA Citation Helper as a convenient reference for properly citing resources. Explain some human right..
|
Learning hypothesis testing methods
: After learning hypothesis testing methods from Stat 200, you can try to answer those questionsusing the data we collected in the very beginningof our class. The questions are list as follows,
|
How many units were transferred from packaging department
: How many units were transferred from the Packaging Department to the Finished Goods Department during the month and what were the equivalent units of production for direct materials and conversion costs for the month of January?
|
What is the price elasticity of demand
: Suppose Mr Masaki operates a newspaper stand in japan. He sells the Japan Times and English newspaper published in Japan, at the same price as all other newspaper stands do. What is the price elasticity of demand for the Japan Times sold by Mr Masaki..
|
Period model of household production
: Suppose that the wage of an individual increases. Using a One period model of household production, explain the effect this would have on the full price of household produced commodities and the effect on the households supply of worktime.
|
The combustion of propane produces carbon dioxide and steam
: 1) The combustion of propane produces carbon dioxide and steam. C3H8(g) + 5 O2(g) → 3 CO2(g) + 4 H2O(g) All of the following statements concerning this reaction are correct EXCEPTa. three molecule of carbon dioxide are formed per one molecule of pro..
|
Calculate the arc price elasticity of demand
: For each of the following cases, calculate the arc price elasticity of demand and state Wethersfield demand is elastic, inelastic or unit elastic
|