+1-415-670-9189
info@expertsmind.com
Prepare the department equivalent units of production
Course:- Accounting Basics
Reference No.:- EM132048584




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Accounting Basics

Problem - The production department in a process manufacturing system completed 302,000 units of product and transferred them to finished goods during a recent period. Of these units, 72,000 were in process at the beginning of the period. The other 230,000 units were started and completed during the period. At period end, 40,000 units were in process.

Prepare the department's equivalent units of production with respect to direct materials under each of three separate assumptions using the weighted average method for process costing.

1. All direct materials are added to products when processing begins.

2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs.

3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending inventory is 30% complete as to materials and 60% complete as to conversion costs.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
An analysis of Gill Co.'s December 31, 2016, accounts receivable suggests that the allowance for uncollectible accounts should be 3% of accounts receivable. Bad debt expense f
An asset purchased by A Corporation for $15,000 ON 01/01/1997 also incurred freight charges of $200 and installation cost of $1,000.The asset had a life expectancy of eight
The total increase or decrease in net income by replacing the current machine with the new machine (ignoring the time value of money) is:$19,000 increase$73,600 decrease$15,60
Harry Smith, 70 years of age, is a male patient who is admitted to the medical-surgical unit with acute community-acquired pneumonia. He was diagnosed with paraseptal emphys
The market price of a bond issued at a discount is the present value of its principal (face) amount at the market (effective) rate of interest:
In addition to the direct acquisition costs such as the price paid and transportation costs to obtain inventory, what other expenditures might be necessary to bring the invent
Mary and Jane, unrelated taxpayers, hold Gray Corporation's stock equally. One year before the complete liquidation of Gray, Mary transfers land (basis of $600,000, fair mar
The beginning inventory of merchandise is $10,000, and an ending inventory of $12,000 is desired. Beginning accounts payable is $76,000. What is the cost of goods sold for n