User Account

All Pages

What is the unit materials cost for may

Assignment Help Accounting Basics
Reference no: EM131810541

Exercise

The ledger of American Company has the following work in process account.

Work in Process-Painting

5/1

Balance

3,890

5/31

Transferred out

?

5/31

Materials

6,590


5/31

Labor

3,230


5/31

Overhead

1,380


5/31

Balance

?


Production records show that there were 460 units in the beginning inventory, 30% complete, 1,690 units started, and 1,400 units transferred out. The beginning work in process had materials cost of $2,940 and conversion costs of $950. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

How many units are in process at May 31?
What is the unit materials cost for May?
What is the unit conversion cost for May?
What is the total cost of units transferred out in May?
What is the cost of the May 31 inventory?

Reference no: EM131810541

Questions Cloud

How and what possibly happened to both the species : In an aquarium two herbivorous species of fish are living together and feeding on phytoplanktons. How? And what possibly happened to both the species?
Analyze a budget estimate : Categorize the estimate and compare its accuracy with the AACE International standards. How did your account for "change orders?"
Identify the issues that gold corporation should consider : In 2015, Gold incurs a Net operating loss. Identify the issues that Gold corporation should consider regarding its NOL carryback and carry forward options.
Cost advantage of the best system : What is the cost advantage of the best system? A potential new system costs $12,000 and has the following salvage values and lost productivity for each year.
What is the unit materials cost for may : What is the unit materials cost for May? What is the unit conversion cost for May? What is the total cost of units transferred out in May?
What will be the effect on the companys monthly income : If the president is right, what will be the effect on the company's monthly net operating income or loss?
Determining the salvage values and lost productivity : A potential new system costs $12,000 and has the following salvage values and lost productivity for each year.
How much can she consume in mid-january : FIN700 - Financial Management ASSIGNMENT. ow much can she consume in mid-January, 2018 if the capital market offers an interest rate of 8% per year
Result in the lowest equivalent uniform annual cost : He estimates that the annual maintenance cost will be constant at $2500 per year. What service life will result in the lowest equivalent uniform annual cost?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd