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Kali Manufacturing Inc. began the year with the following.Units Beginning work-in-process 20,000 20% completeTransferred to finished goods 60,000 Ending inventory 10,000 70% completeMaterials are added at the beginning of the processRequiredCalculate the equivalent units fora. material costs under the weighted average process cost method;b. conversion costs under the weighted average process cost method;c. material costs under the FIFO process cost method; andd. conversion costs under the FIFO process cost method.Problem 2: Glass Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows.Production Data unitsIn process, beginning of month (20% converted) 2000Started during current month 8000Completed and transferred to finished goods 5500In process, end of month (60% converted) 4500Manufacturing Costs Work in process, beginning -Materials $15,000-Conversion $6,450Production Costs Added -Materials $54,000 -Direct labor cost $105,000 -Factory overhead cost $36,150 RequiredPrepare a cost of production report for current month. Use Weighted-Ave process costing.
how accounts receivables and cash go together. Beyond just cash showing when funds are collected how is the timing of receivables different than the timing of cash and how can the company make sure they are on top of collecting the funds due them.
Indicate the effect of each transaction on accounting equation by listing the numbers identifying the transactions, (1)through (10), in a vertical colum.
What is the payout ratio for Winger Corporation
As a senior staff member of Major's accounting department, you have been asked to prepare a memo to the chief accountant that includes the computations needed to determine primary and diluted earnings per share for the consolidated entity.
Compute the net cash inflow (cash receipts less yearly cash operating expenses) anticipated from the sale of the device for each of the 12 years.
describes GASB requirements for accounting for Investment Trust Funds. Include a discussion of when the use of investment trust funds is appropriate;the investments to be included and excluded; the basis at which investments are to be reported;rep..
For consolidation purposes, does the direction of the transfers (upstream or downstream) affect the balances to be reported here? Prepare a consolidated income statement for the year ending December 31, 2004.
Identifies price variances at the earliest possible point in time.
Describe the amortization of unrecognized prior service costs
How much should the National Credit Union invest in municipal bondsso as to maximize its return on investment? What is the maximal return on investment?
What are the advantages and disadvantages of the primary types of auditor? Please explain the advantages and disadvantages of each one.
Identify factors employers should consider when choosing the discount rate to be used in accounting for pension plans of the enterprise.
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