The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows: 3,800 units, 80% completed ($25,000 materials, $35,400 conversion) $ 60,400 Direct materials, 32,000 units 368,000 Direct labor 244,000 Factory overhead 188,000 Total cost to be accounted for $860,400 During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1. On June 30, the inventory of work in process consisted of 4,600 units which were 40% completed. Inventories are costed by the average cost method and all materials are added at the beginning of the process. Determine the following, presenting your computations: (20-176)
(a) Equivalent units of production for conversion cost
(b) Conversion cost per equivalent unit and material cost per equivalent unit.
(c) Total and unit cost of finished goods completed in the current period
(d) Total cost of work in process inventory at June 30
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows: 3,800 units, 80% completed ($25,000 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
At the beginning of the year, managers at King Industries estimated $400,000 in manufacturing overhead, 20,000 direct labor hours, and 30,000 machine hours. Actual manufacturing costs at the end of the year were $425,000 in manufacturing overhead.
Answers (1)
Which best explains what happens to the money that a consumer deposits into a bank account? The bank saves some of the money for independent loans and pays some to the Federal Reserve.
Answers (1)
The specifications for a plastic liner for a concrete highway project calls for thickness of 4.0 mmplus or minus0.08 mm. The standard deviation of the process is estimated to be 0.02 mm. a) The standard deviation of the process is estimated to be 0.
Answers (1)
which of the following is true? A. A firm with low anticipated profit will likely take on a high level of debt. B. A successful firm will probably take on zero debt. C. Rational firms raise debt levels when profits are expected to decline. D.
Answers (1)
Suppose a consumer's income doubles. At the same time, the prices for all goods and services also double. What will happen to the consumer's optimal consumption bundle? The consumer will consume twice as much.
Answers (1)
New Questions in Business
What does this quote mean to you: "the head swells, when the mind stops growing"
Answers (2)
When responding to behavioral interview questions, you should briefly explain the situation and describe the problem or task, your action, and its results. True or false?
Answers (1)
Which of the following accounts neither increases nor decreases the fund balance of the General Fund during the fiscal year? A. Deferred revenues. B. Revenues. C. Expenditures. D. Other financing sources.
Answers (1)
At Afterbadge, a chain of stores that sells computer accessories, all the marketing activities are planned at the company headquarters. These plans are required to be carried out by the employees without any deviation.
Answers (1)
A teacher writes the results of a test on the board: 7 students received a's, 10 students received b's, 18 students received c's, 4 students received d's and 1 student received an f.
Answers (1)