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At the start of July classic car wax company had beginning Work in Process of 2,500 units that were 90% completed with respect to matherial and 45% completed with respect to conversion costs. The cost of the units was $7,000($5,000 material and 2,000 of conversion costs.) During the month the company started production of 40,000 units and incurred $224,500 of material cost and $91,750 of labor and overheade. Costs per equivalent unit were $6.00 for material and $2.50 for labor and overhead (conversion cost.) The cost of items completed was $314,500 ($222,000 for materials and $92,500 for labor and overhead. Units in ending work in process are 25% complete with respect to material and 10% complete with respect to conversion costs.
a. Prepare a reconciliation of units
b. What is the cost of ending Work in Process?
Multiple choice questions on Inflation, EOQ and Basic accounts - Rocky Mountain Utilities then uses the coals to generate electricity, which it makes to its customers
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What debt-equity ratio is needed for the firm to achieve its targeted weighted average cost of capital?
Would an increase in the volatility of long-term interest rates cause a bond investor to pay more or less for a non-callable bond that had high convexity? Briefly explain your answer.
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Last year, Blakely's Fashions earned net income of $68,400 and had 12,000 shares of stock outstanding. The dividends per share were $2.20. What is the dividend payout ratio?
Carmens president, Lacy, expects an annual profit of $260,000. How many games must be sold to attain this profit?
What is the difference between the present value of the settlement at 5 percent and 11 percent? Compute each one separately. Use Appendix D.
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