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Old Victrola, Inc., produces top-quality stereos and uses process costing. The manufacture of ste- reos is such that direct materials, labor, and overhead are all added evenly throughout the pro- duction process. Due to the smooth production process, only one cost category-manufacturing costs-is used for equivalent unit calculations. Old Victrola had the following cost and production information available for the months of March and April:
March
April
Direct materials costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 978,460
$1,168,310
Direct labor costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,562,260
3,041,940
Manufacturing overhead applied . . . . . . . . . . . . . . . . . . . . . . . . . .
3,438,640
3,571,030
Total manufacturing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$6,979,360
$7,781,280
Units in beginning work in process . . . . . . . . . . . . . . . . . . . . . . . .
7,000
4,800
Units transferred to finished goods . . . . . . . . . . . . . . . . . . . . . . . .
18,500
23,000
Units in ending work in process . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,400
Beginning work in process was 30 percent complete in March and 60 percent complete in April. Ending work in process was 60 percent complete in March and 35 percent complete in April.
a. For each of the two months, calculate the equivalent units of production.
b. Based on equivalent units produced, did total manufacturing costs per unit increase or decrease between March and April?
c. Did the direct materials cost per equivalent unit increase or decrease between March and April?
The unadjusted trial balance as of December 31, 2013, for the Bagley Consulting Company appears below.December 31 is the company's fiscal year end.
Management at Kudler Fine Foods has reviewed the flowcharts prepared in Week Two and is requesting information on controls that will be required.
department g had 3600 units 13 completed at the beginning of the period 12000 units were completed during the period
Assume that the auditors find serious weaknesses in the internal control of Black Oil, Inc., a producer and distributor of fine wines. Would these internal control weaknesses cause the auditors to rely more or less upon each of the following types..
What information is provided by this note?
Are acquisitions of capital assets always accounted for through Capital Projects Funds? Explain.
based on the data presented in exercise 25-15 assume that sirrus phone company uses the variable cost concept of
Determine the net present value of the investment in the service center. Should Munster invest in the service center and calculate the internal rate of return of the investment to the nearest A?
1. Make summary journal entries to record the store's transactions for the year ended January 31, 2012. Best Way uses a perpetual inventory system.
Estimate amounts used in the calculation of a break-even analysis for each alternative in #1. Calculate break-even for each alternative
taos company purchased merchandise for resale from tuscon company with an invoice price of 19300 and credit terms of
Complete federal income tax forms for a married couple (information provided in Appendix A under the Appendix and Forms section below). It is up to you which forms are used from the following list. Upon completing the return, you will be describing w..
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