Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem
Vaasa Chemicals makes a product by way of two processes - Mixing & Refining. Its process costing system in the Mixing Department has two direct cost categories (Chemical P & Chemical Q) and one conversion costs pool. Chemical P is introduced at the start of the operations in the Mixing Department and Chemical Q is added when the product is three-fourths (75%) completed in the Mixing Department.
The following information pertains to the Mixing department for July:
Units
Work in process inventory, July 1
0
Started production
50,000
Completed and transferred to Refining Department
35,000
Ending work in process inventory [two-thirds (66?%)of the way through the Mixing process]
15,000
Costs
Beginning WIP inventory
$0
Costs added during July:
Chemical P
250,000
Chemical Q
70,000
Direct Labour
32,000
Manufacturing Overhead
103,000
Required:
i) Compute the equivalent units in the Mixing Department for direct materials and for conversion costs.
ii) Compute:
a) the cost of the units completed and transferred out to the Refining Department.b) the cost of work in process inventory as of July 31.
iii) Prepare the journal entry to record the cost of the units completed and transferred out to the Refining Department.
iv) Post the journal entries to the Work in Process Inventory - Mixing T-account. What is the ending balance?
popper co. acquired 80 of the common stock of cocker co. on january 1 2009 when cocker had the following stockholders
stock a has a beta of .5 and investors expect it to return 5. stock b has a beta of 1.5 and investors expect it to
What is the effect of the transaction on the accounting equation - Reported as "Revenues" on Phil's income statement
Outline and briefly explain the two phase process for executing machine level instructions.
Chapter 5 of the course textbook proposes a four-stage creative process to resolve problems and issues (pages 99-101). Apply the four-stage process to the following scenario:
a company issued 7 4-year bonds with a par value of 200000. the market rate when the bonds were issued was 7.5. the
anne inc. is considering the purchase of a machine that would cost 200000 and would last for 8 years. at the end of 8
memofax inc. produces memory enhancement kits for fax machines. sales have been very erratic with some months showing
Over the years there has been many organizations
A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $30,000.
Hunter Company purchased merchandise inventory with an invoice price of $6,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Hunter Company pays within the discount period?
Present value long dash -Mixed streams Consider the mixed streams of cash flows shown in the following?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd