Fairfax company uses weighted -average process costing to

Assignment Help Accounting Basics
Reference no: EM13581014

Fairfax company uses weighted -average process costing to account for it productio cost. Direct labor is added evenly thourghout the process. Direct material are added at the beginning of the process. During September , the company transferred 735,000 units of product of finished goods. At the end of September, the goods in process inventory consists of 207,000 units that are 90% complete with repect to labor. Begining inventory had 244,920 of direct material s and 69,098 of direct labor cost. The direct labot cost added in September is 1,312,852 and the direct material cost added is 1,639,080.

Reference no: EM13581014

Questions Cloud

The cost to produce part a was 20 per unit in 2014 during : variable costs................................180000fixed costs.......................................2400001.martin
Naui industries manufacture flowered shirts which normally : naui industries manufacture flowered shirts which normally sell for 24 each. the current unit cost to manufacture each
On january 1 2013 piper co issued ten-year bonds with a : on january 1 2013 piper co. issued ten-year bonds with a face value of 4500000 and a stated interest rate of 10 payable
A manufacturing company prepays its insurance coverage for : a manufacturing company prepays its insurance coverage for a three-year period. the premium for the three years is 4500
Fairfax company uses weighted -average process costing to : fairfax company uses weighted -average process costing to account for it productio cost. direct labor is added evenly
Prepare journal entries to record the above merchandising : july1nbspnbsppurchased merchandise from boden company for 6000 under credit terms of 115 n30 fob shipping point invoice
Rogers co had a sheet metal cutter that cost 110000 on : rogers co. had a sheet metal cutter that cost 110000 on january 5 2010. this old cutter had an estimated life of ten
During the current year the united states files criminal : during the current year the united states files criminal and civil actions against joe the ceo of box corporation and
Atlantic company produces a single product for the most : atlantic company produces a single product. for the most recent year the companys net operating income computed by the

Reviews

Write a Review

Accounting Basics Questions & Answers

  What might a declining balance of long term debt

1. If you won $1,000,000 in the state lottery and had a choice between receiving $50,000 a year for 20 years or getting a one-time payment of $560,000, which would you take?

  Bond value-semiannual payment

Assume that you wish to purchase a 25-year bond that has a maturity value of $1,000 and makes semiannual interest payments of $45.

  Disadvantages of job order costing-procss costing

What are the advantages and disadvantages of job order costing, procss costing, andactivity based costing systems.

  Fullerton wine company is a retailer which sells vintage

fullerton wine company is a retailer which sells vintage wines. the company has established a policy of reordering

  Basics of accumulated depreciation account

Explain what must have happened to account for the remainder of the change in the accumulated depreciation account during 2007.

  How information affect her taxable income

Norma, the proprietor of Hyacinth Enterprises, withdrew $50,000 from Hyacinth during the year. Assuming Norma has no other capital gains or losses, how does this information affect her taxable income for 2009?

  Shares authorized-issued and outstanding

Orchard Corporation"s capital stock at December 31 consisted of the following: (a) (b) Common stock, $2 par value; 100,000 shares authorized, issued, and outstanding.

  Prepare an income statement for the year 2013prepare a

karise repairs adjusted trial balance december 31 2013no.account titledebitcredit101cash16000124office

  Percentage-of-completion method of accounting

Calculate the income recognized by Parcell under the percentage-of-completion method of accounting in each of the years 2007, 2008, and 2009.

  Which of the following lists the components of master

which of the following lists the components of the master budget in correct chronological order?a. direct labor budget

  Proper accounting for cash receipts

The gift shop uses an online e-cash processing company, which deposits cash receipts to the gift shop's bank account automatically. What strategies should the gift shop implement to ensure proper accounting for cash receipts generate from online s..

  Determining profit margin of burger company

Burger Corp has $500,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $600,000, and its net income after taxes was $25,000.

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