The following additional facts relate to production and costs are shown: Assembly department Finishing | department Units Beginning units (Jan 1, 2019) Units started or transferred in Completed units Ending units (Jan 31, 2019) 500 units (30%) 5,500 400 units (20%) 300 units (50%) 600 units (60%) Cost of beginning inventory Transferred in costs Material costs Conversion costs 57,700 98,000 74,950 5,280 Costs incurred in January Material costs Conversion costs 394,000 2,000,000 18,300 100,200

The following additional facts relate to production and costs are shown: Assembly department Finishing | department Units Beginning units (Jan 1, 2019) Units started or transferred in Completed units Ending units (Jan 31, 2019) 500 units (30%) 5,500 400 units (20%) 300 units (50%) 600 units (60%) Cost of beginning inventory Transferred in costs Material costs Conversion costs 57,700 98,000 74,950 5,280 Costs incurred in January Material costs Conversion costs 394,000 2,000,000 18,300 100,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Time let XYZ Co. has the following information: Inventory at 1st Inventory at 31st Dec 2020 Jan 2020 Raw Materials Inventory OMR 20,000 OMR 30,000 Work in Process Inventory OMR 18,000 OMR 15,000 Finished Goods Inventory OMR 30,000 OMR 20,000 Additional information for the year is as follows: Raw materials purchases OMR 100,000 OMR 75,000 Direct labor OMR 85,000 Manufacturing overhead applied Manufacturing overhead Actual Indirect materials OMR 80,000 OMR ACCT2121 Ggeneral-chat. gin
In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Cruz Company presented the following costs on three processes: what is the unit cost of inventory transferred out from Department C? P19.80 P19.83 P28.70 P28.77
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In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Cruz Company presented the following costs on three processes: what is the cost of inventory transferred out from Department B? P1,943,390 P2,002,830 P2,061,122 None of the above
Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.For December,2022. CBA Company presented the following costs on processes: In December, under FIFO method, what is average unit cost of inventory transferred from Process 1 to Process 2? P13.20 P13.33 P13.32 P13.21
The following information relates to Jarden Industries for fiscal 2020, the company's first year of operation: Units produced Units sold Units in ending inventory Fixed manufacturing overhead Calculate the amount of fixed manufacturing overhead that would be expensed in 2020 using full costing. (Round fixed manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and final answer to O decimal places, e.g. 125.) Fixed manufacturing overhead expensed $ Calculate the amount of fixed manufacturing overhead that would be expensed in 2020 using variable costing. 150,000 120,000 30,000 $900,000 Fixed manufacturing overhead expensed $ Calculate the amount of fixed manufacturing overhead that would be included in ending inventory under full costing and reconcile it to the difference between parts a and b. Fixed manufacturing overhead in ending inventory $ FMOH expensed under variable costing FMOH expensed under full costing Difference 1
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Star Plastic company produces plastic cups. table below are the data for April 2019. Star Plastic uses the weighted average method for inventory calculations. raw materials are added at the beginning of the production process while conversion costs are added evenly throughout the process.calculate equivalent units (EU) for DIRECT MATERIALScalculate COST per equivalent units for DIRECT MATERIALcalculate equivalent units (EU) for CONVERSION COSTS