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!
Finding the equivalent units for materials and conversion.
Bell Computers, Ltd., located in Liverpool, England, assembles a standardized personal computer from parts it purchases from various suppliers. The production process consists of several steps, starting with assembly of the \"mother\" circuit board, which contains the central processing unit. This assembly takes place in the CPU Assembly Department. The company recently hired a new accountant who prepared the following report for the department for May using the weighted-average method:
Quantity Schedule
Units to be accounted for:
Work in process, May 1 (materials 90% complete; conversion 80% compete)
5,000
Started into production
29,000
Total units
34,000
Units to be accounted for as follows:
Trasferred to next department
30
Work in process, May 31 (materials 75% complete; conversion 50% compete)
4,000
Cost Reconciliation
Cost to be accounted for:
Work in process, May 1
£ 13,400
Cost added in the department
87,800
Total cost to be accounted for
£101,200
Cost accounted for as follows:
Work in process, May 31
£ 8,200
93,000
Total cost accounted for
The company\'s management would like some additional information about May\'s operation in the CPU Assembly Department. (The currency in England is the pound, which is denoted by the symbol £.)
Materials
Conversion
Total
£9,000
£4,400
£13,400
Costs added during May
£57,000
£30,800
£87,800
The new manager of the CPU Assembly Department was asked to estimate the incremental cost of processing an additional 1,000 units through the department. He took the unit cost for an equivalent whole unit you completed in (3) above and multiplied this figure by 1,000. Will this method yield a valid estimate of incremental cost? Explain.
Explain why adjusting entries are necessary. Describe the 4 types of adjusting entries, and provide a manufacturing industry example of each.
Make a tabular analysis of the transactions using these column headings: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, and Retained Earnings. Include margin explanations for any changes in Retained Earnings..
The contract required 5 equal annual payments with the first payment due on 1 st December, 2012, the date of the sale. Find what present value concept is appropriate for this situation?
Illustrate what factors must Sam and SBT consider in determining the tax treatment of this distribution?
Use the horizontal model (or write the journal entry) to show the effect of the sale of the season tickets, use the horizontal model (or write the journal entry) to show the effect of presenting an event.
Identify one of the gross income inclusions. Why or why not? You can approach this question from an economic, social, revenue, or political perspective.
Evaluate the net present value of this investment opportunity. Determine the internal rate of return of this investment opportunity.
What is appropriate journal entry if direct materials of $50,000 and indirect materials of $3000 are sent to the manufacturing plant floor?
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance and Prepare the general journal entry or entries to correct the Cash account
Identify the core functions of each department, their strengths and weaknesses, and make recommendations for improvement, as appropriate and identify and describe the underlying problem or conflict
Which ratios would external users be most interested in? Why? Which ratios would best help internal users manage the business? Why? Beyond the basic financial statements what other information would you want to fully analyze a company's performa..
the following information is available for pension plan of kiley company for the year 2010.actual and expected return
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