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Glorgious Company's assembly department had 6,000 units in beginning inventory. Associated with these units were $25,000 in direct materials and $45,000 in conversion costs. During the period, the department incurred $122,840 in direct materials and $74,880 in conversion costs and started 40,000 units. Ending inventory consisted of 4,000 units which were 70% complete with respect to materials and 60% complete with respect to conversion costs.
a. Calculate the number of units completed. (2) b. Calculate the equivalent units for materials. (2)c. Calculate the equivalent units for conversion costs. (2)d. Calculate the cost per equivalent unit for materials. (2)e. Calculate the cost per equivalent unit for conversion costs. (2)f. Calculate the cost of units completed. (2)g. Calculate the cost of the ending work in p
A physical inventory showed that only $369.00 worth of general office supplies remained on hand as of June 30. This did not include any of the Super RoutePro. There were 5 units of Super RoutePro on hand. We use FIFO to determine the valuation of ..
The deferred income tax liability: a. Represents income tax payments that are deferred until future years because of temporary differences between GAAP rules and tax accounting rules. b. Is a contingent liability.
plunkett co.herring co.assetscash128100327700receivables222300303600inventories575100512400nbspnbspnbsptotal current
1.loom inc. has outstanding a 1000 face value bond with a 5 contract interest rate. the bond has 10 years remaining
What are the steps in completing the accounting cycle? How do the different steps impact the financial statements? What is the impact on the financial statements of missing a step when completing the accounting cycle?
1.the costs assigned to units in inventory are typically lower under absorption costing than under variable
Setting discount rates are too high due to fear of future rates tends to bias decisions against making strategic investments.
to pay for her college education gina is saving 2000 at the beginning of each year for the next eight years in a bank
powerdyne companys cost of goods sold is consistently 60 of sales.nbspnbspthe company plans to carry ending
You own a restaurant and just negotiated a decrease in the cost of steaks by25 cents a steak. You normally sell 300,000 steak dinners ayear. Your business pays an average of 30 percent in income taxes. What is the annual tax cost of this increase ..
koffee express operates a number of espresso coffee stands in busy suburban malls. nbspthe fixed weekly expense of a
What do you think is George Bush's desired conclusion? Make sure to include the computations of income. How can the discrepancies in parts (a) and (b), and the motivation difficulties in part (c) be diminished?
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