Calculate the cost of items completed during november

Assignment Help Accounting Basics

Reference no: EM131977451

Problem

At the start of November, Penco Refinery had Work in Process inventory consisting of 4,900 units that were 90 percent complete with respect to materials and 60 percent complete with respect to conversion costs. The cost of the units was $43,100 ($29,300 of material cost and $13,800 of labor and overhead). During November, the company started 45,300 units and incurred $407,900 of material cost and $395,100 of labor and overhead. The company completed 47,600 units during the month, and 2,600 units were in process at the end of November. The units in ending Work in Process were 90 percent complete with respect to materials and 40 percent complete with respect to conversion costs.

Cost Per Equivalent Unit for Materials and Conversion Costs.

Calculate the cost of items completed during November.

Calculate the cost of ending Work in Process.

Reference no: EM131977451

Questions Cloud

Prepare a bond amortization schedule up : Prepare a bond amortization schedule up to and including January 1, 2017, using the effective-interest method.

What were you duties and responsibilities : What did you learn from the experience? Did it change your ideas or beliefs about the population you worked with?

What effect would a decreased number of ribosomes : What effect would a decreased number of ribosomes have on the rate of protein synthesis? What is different about transcription and translation in prokaryotes

Providing a description of the standards movement : Providing a description of the standards movement as is exists today as well as the main tenets of developmentally appropriate practice (DAP).

Calculate the cost of items completed during november : Cost Per Equivalent Unit for Materials and Conversion Costs. Calculate the cost of items completed during November. Calculate cost of ending Work in Process.

Discuss about the environmental analysis : Create a 1,050-word strategic plan for your place of employment or a company with which you are familiar.

What is the total material variance : The standard materials cost to produce 1 unit of Product M is 6 pounds of material at standard price of $50 per pound. What is the total material variance?

What are the signs and symptoms-pathogen and virulence : What are the signs and symptoms, Pathogen and Virulence Factors, Pathogenesis, Epidemiology, Diagnosis, Treatment and Prevention of a Urinary Tract Infection?

Explain the advantages of utilizing these research firms : Discuss why a company might decide to save the money and utilize its in-house team as opposed to one of these firms.

User Account

All Pages