How many liters were started and completed during the period

Assignment Help Financial Accounting
Reference no: EM131211215

The Mountain Springs Water Company has two departments, purifying and bottling. The bottling department received 67,000 liters from the purifying department. During the period, the bottling department completed 65,000 liters, including 3,000 liters of work in process at the beginning of the period. The ending work in process was 5,000 liters. Determine how many liters were started and completed during the period.

Reference no: EM131211215

Questions Cloud

Lower cost or market application to inventory : Which statement is true concerning the LCM (lower cost or market) application to inventory?
Net long term capital gain : In the current year, Norris, an individual, has $52,000 of ordinary income, a Net Short Term Capital Loss (NSTCL) of $9,800 and a Net Long Term Capital Gain (NLTCG) of $2,900. From his capital gains and losses, Norris reports:
Credit sale with our customer using a bank credit card : We make a credit sale with our customer using a bank credit card which allows for immediate payment to us. The sale was for $10,000 and carried a 2 percent fee. To record this sale we will:
What was out net income or loss for the year : On January 1, 2011 we started a new business by investing cash of $10,000 and equipment of $9,000. During the year we withdraw $2,000. When we prepare of Statement of Owners Equity we note a final balance of $21,000. Based on this information, what w..
How many liters were started and completed during the period : The Mountain Springs Water Company has two departments, purifying and bottling. The bottling department received 67,000 liters from the purifying department. During the period, the bottling department completed 65,000 liters, including 3,000 liters o..
What price per unit would have been charged to the customer : Jb 412 was one of the many jobs started and completed during the year. The job required $9,500 in direct materials and 35 hours of direct labor time at a total direct labor cost of $10,400. If the job contained four units and the company billed at 70..
Depreciation expense during first year-sole proprietorship : Bonnie Jo purchased a used computer (5-year property) for use in her sole proprietorship. The basis of the computer was $2,600. Bonnie Jo used the computer in her business 60 percent of the time and used it for personal purposes the rest of the time ..
Harrison received qualified dividend : Harrison received a qualified dividend. Without knowing any additional facts, which of the following statements is true regarding the rate at which the dividend will be taxed to Harrison?
Assuming that the corporation had no insurance coverage : Wallace Company lost of its inventory in a fire in December just before the year-end physical inventory was taken. Merchandise with a selling price of $ 21,000 remained undamaged after the fire. Damaged merchandise with original selling price of $15,..

Reviews

Write a Review

Financial Accounting Questions & Answers

  How much money you should set aside for short-term needs

scribe the three factors that determine how much money you should set aside for short-term needs. How many months of living expenses does the article suggest to set aside?

  Financial accounting standards board

Everyone on the bus! It's time for a field trip. Travel to the site of the Financial Accounting Standards Board (FASB) and search for the Generally Accepted Accounting Principles (GAAP). What are some of the responsibilities of the FASB? What is the ..

  Prepare an income statement and a balance sheet

Record journal entries for all of the above adjustments and show that the suspense account is cleared and prepare an income statement and a balance sheet

  Prepare entries to reflect correct land and buildings

Spitfire Company was incorporated on January 2, 2015, but was unable to begin manufacturing activities until July 1, 2015, because new factory facilities were not completed until that date. The Land and Buildings account reported the following items ..

  Prepare a net operating loss schedule

Prepare a net operating loss schedule. Prepare the journal entries for the years 2013-2015 to record income tax expense, income tax payable (refundable), and the tax effects of the loss carry back and loss carry forward.

  Determine the safety stock level

Using the expected value approach, determine the safety stock level.

  Determining variables and state parameters

Plot on graph - define variables and state parameters. What type of function models the behavior of the graph? Why Create an equation(model) that fits the graph. on a new set of axes draw your model and comment on differences

  What is the cost per equivalent unit for transferred-in cost

The Mixing Department is the third department in the MZS Inc. factory. During January, there were 4,000 units of beginning inventory in the Mixing Department, and 80,000 units were transferred in from the prior process. There were 8,000 units in endi..

  Assume that direct labor is a variable cost

Harris Corporation produces a single product. Last year, Harris manufactured 29,010 units and sold 23,900 units. Production costs for the year were as follows: Assume that direct labor is a variable cost

  What total amount should the net assets acquired be record

All costs associated with consummating the combination totaled $65,000. Included in that amount were stock issue costs of $8,000, legal fees of $52,000, and secretarial costs of $3,000. At what total amount should the net assets acquired be record..

  Determine the balances and reconcile with the balances

Journalize the above transactions. Open the customer's and supplier's cards - Post to T accounts the accounts receivable and accounts payable entries.

  How to record the adjustment on a journal

How to record the adjustment on a journal: Employee salaries in the amount of $55,000 were incurred for the year. Of that amount $50,000 had been paid in cash, the remainder was still owed to employees at the end of the year. Record the journal entry..

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