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Kimbeth Manufacturing makes Dust Density Sensors (DDS), a safety device for the mining industry. The company uses a process costing system and has only a single processing department. The following information pertains to operations for the month of May:
The beginning work in process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs. The ending work in process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs. The costs were as follows:
Using the FIFO method, the cost per equivalent unit of materials for May is closest to:
Answer $4.12 $4.50 $4.60 $4.80
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On June 1, 200X, Ben's accounts receivable had a fair value of $ 140,000. Additionally, Ben's capitalized software costs were estimated to have a fair value of $ 200,000 and liabilities were valued at $30,000. All other items were stated at their ..
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Hepworth company has implemented a JIT system and is considering the use of backflush costing. Hepworth had the following transactions for the current fiscal year.
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