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On May 1, Dandy 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. Dandy uses the weighted-average method (like we did in class). During the month, 150,000 units were completed and transferred to finished goods. The May 31 ending work-in-process inventory consisted of 10,000 units that were 100% complete with respect to materials and 80% complete with respect to conversion. Costs added during the month were $330,000 for materials and $503,750 for conversion.
a. What is the cost per equivalent unit for material and conversion. b. What is the cost transferred to finished goods during May.
c. What is the cost of ending work in process on May31.
Norm did not file a claim against the insurance policy because of a fear that reporting the accident would result in a substantial increase in his insurance rates. His adjusted gross income was $14,000 (before considering the loss). What is Norm's..
evaluate the opportunity costs for Damien Chrysler for failure to accept a proposal from within to manufacture a vehicle for the Indian market and suggest ways that opportunity cost can be minimized.
What are at least two International Accounting Standards (IASs)? Are these standards the same as U.S. standards? Why or why not?
Slagle Corporation is a large manufacturing organization. Over the past several years, it has obtained an important component used in its production process exclusively from Harrison, Inc., a relatively small company in Topeka, Kansas. Harrison ch..
Jarret's interest payments on the loan this year are $4000,and his principal payments are $900. a. Should Jarret report any interest income this year? b. Can Jarret deduct any interest expense this year?
which of the following accounts ordinarily appears in the post-closing trial balance?a accumulated depreciationb
Product-cost cross-subsidization is more likely to occur when:
the industry average is about 75 days. the firm has also experienced an increase in its business in the last 2 years
Liabilities incurred, such as for accrued payroll, but still unpaid at year-end, should be recorded in the General Fund by a debit to which of the following accounts?
The column of the income statement show the debits are equal to $56,899 and credits are $60,333. What do this information mean to the accountant?
Not all benefits have monetary value. Companies are in business to make money, therefore the benefits should generate revenues whether directly or indirectly. As CFO of a company, what technical analysis would you do to determine the cost/benefit ..
At the date of transfer, Demers records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively.
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