The cost per equivalent unit for conversion costs

Assignment Help Financial Accounting
Reference no: EM131260932

The following informaiton is used for Questions 2-5 Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process…………………………………….. 40,000 Percent complete with respect to materials………. 70% Percent complete with respect to conversion………. 60% Costs in the beginning inventory: Materials cost…………………………………… $8,600 Conversion cost………………………………… $4,800 Units started into production during the month…………… 750,000 Units completed and transferred out during the month…… 760,000 Costs added to production during the month: Materials cost……………………………………… $223,000 Conversion cost…………………………………… $149,000 Work in process, ending: Units in process…………………………………… 30,000 Percent complete with respect to materials……..... 40% Percent complete with respect to conversion…….. 30% What was the cost per equivalent unit for conversion costs during the month?

Reference no: EM131260932

Questions Cloud

Shares of common stock outstanding throughout the year : DiCenta Corporation reported net income of $286,000 in 2014 and had 59,900 shares of common stock outstanding throughout the year. Also outstanding all year were 6,450 shares of cumulative preferred stock, each convertible into 2 shares of common. Th..
Forthcoming guidance on revenue recognition : Under the FASB’s and IASB’s forthcoming guidance on revenue recognition, a contract must have which of the following characteristics in order to be judged as persuasive?
The expected change in variable expenses takes place : Northwood Company manufactures basketballs. The company has a ball that sells for $30. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $21.00 per ball, of w..
The cost per equivalent unit for conversion costs : The following informaiton is used for Questions 2-5 Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: What was the cost pe..
Calculate the inventory cost : On January 15, 20 times 4, Violet Muir valued her inventory at cost. $41,000. Her statements are based on the calendar year, so you find it necessary to establish an inventory figure as of January 1.20 times 4. Calculate the inventory cost as of Janu..
What amount of net gain from discontinued operations : During January 2015, Doe Corp. agreed to sell the assests and product line of its hart division. the sale was completed on January 15, 2016, on that date, Doe recognized a fain on disposal of 900,000. Harts operating losses were 600,000 for 2015 and ..
Process costing system rather than job-order costing system : For which situation(s) below would an organization be more likely to use a process costing system rather than a job-order costing system? a) a paper mill that processes wood pulp into large rolls of paper. b) a shop that restores old cars to "showroo..
Lump-sum purchase of assets and subsequent events : Carter Development Company purchased, for cash, a large tract of land that was immediately platted and deeded into the following smaller sections: Why would Carter be concerned with the value assigned to each section? Would Carter be more concerned w..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the company profit margin

A company reported sales of $100,000; cost of goods sold of $60,000; selling, gerneral, and administrative expenses of $15,000; and income tax expense of $10,000. Compute the company's profit margin. what is the percent?

  Calculate their expected payments from a proposed fee

The HMO projects its hospital budget at 465 patient days per 1,000 members, with a payment rate of $1,000 per, patient day. The covered population is 25,000 members which produces a hospital budget of $11,625,000 (465 x 25x $1,000). The HMO proposes ..

  How will acquirer record as goodwill upon acquiring target

Target Inc. has 30 million shares outstanding and trades at $50 per share. Target has net identifiable assets with a book value of $1 billion and a fair value of $1.2 billion. Acquirer Corporation purchases all of Target Inc. stock for $60 per sh..

  Impairment of intangibles

Multiple Choice Questions Amortization, impairment of intangibles - what amount should be reported as amortization expense

  What is the potential conflict company evaluation

What is the potential conflict between the company’s evaluation/compensation system and Delamr's focus on the NPV of the investment in product development?

  Purchased goodwill may arise in the individual accounts

Ovett acquires the following during the year ended 30 June 20x6: Purchased goodwill may arise in the individual accounts of Ovett in respect of: During the year ended 20x4 Garden made the following acquisitions: Purchased goodwill may arise in the in..

  Recorded cost of the completed factory building should be

On February 12 2015, Laker Company purchased a tract of land as a factory site for $175,000. An existing building on the property was razed and construction was begun on a new factory building in March of the same year. The recorded cost of the compl..

  Budgets types and steps involved in financial budgeting

Explain Budgets, its types and steps involved in financial Budgeting in a company. - Describe the main areas of taxation legislation that applies in the areas of financial management.

  Calculate the equivalent units for conversion costs

Compute the equivalent units for materials using the weighted- average method. Calculate the equivalent units for conversion costs using the weighted-average method.

  The cost per equivalent unit for material and conversion

On May 1, Dawdle Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion, with respective costs of $30,000 and $1,850. During the month, 150,000 units were completed and trans..

  1 chapters 15 stockholders equityreview your sec 10-k

1. chapters 15 stockholders equityreview your sec 10-k report and analyze the balance sheet statement of owners equity

  Activity based costingroche city has 2 major sources of

activity based costing.roche city has 2 major sources of revenues property tax and sales tax which are billed according

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