Determine the total cost of the products transferred

Assignment Help Accounting Basics
Reference no: EM133130567

Question - Chavez Concrete Inc. has two production departments. Blending had 1,000 units in process at the beginning of the period, two-fifths complete. During the period 7,800 units were received form Mixing, 8,200 units were transferred to the finished goods storeroom, and 600 units were in process at the end of the period, 1/3 complete. The cost of the beginning work in process was:

Cost in Mixing $10,000

Cost in Blending:

Materials 200

Labor 500

Factory Overhead: 300

The costs during the month were:

Cost of goods received from Mixing: $78,000

Cost in Blending:

Materials $3,328

Labor: $10,000

Factory Overhead: $6,672

Required -

a. Determine the total cost of the products transferred to finished goods.

b. Determine the total cost of the ending work in process inventory in Blending.

Reference no: EM133130567

Questions Cloud

Explain the production condition : Ques1: Explain the production condition for the following conditions:
Pass journal entries to record the amortized excess value : Subsidiary's fair value of net assets was SR 460,000. Pass journal entries to record the amortized excess value reclassification entry
What is the current real estate marketplace : 1.) What is the current Real Estate Marketplace? 2.) In your view what segment of that marketplace is going to expand?
What is the export product in community : 1.) What economic activity do you observe as predominant in your community?
Determine the total cost of the products transferred : Blending had 1,000 units in process at the beginning of the period, two-fifths complete. Determine the total cost of the products transferred
Equilibrium in the ascending price auction : Consider the keyword auction for three slots with 50, 20, 10 clicks respectively. Suppose that five bidders i = 1, 2, 3, 4, 5 that have per-click values of 10,
Americans with disabilities : What are the legal issues presented in this case? Did the plaintiff establish a valid claim of failure to reasonably accommodate?
Leadership paradox and inter-team relations : What is the leadership paradox? Have you ever encountered the leadership paradox?
Kuwait labor law interpretation : Mohammed runs a furniture store in Kuwait. He needs a carpenter and advertises a position. Omar, aged 16, applies to this position.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd