2. Cheese Please Ltd produces cheese topping for the fast pizza industry. At the beginning of...

2. Cheese Please Ltd produces cheese topping for the fast pizza industry. At the beginning of April 60,000 kilograms of cheese topping was in process, 100% complete as to raw materials and 50% complete as to conversion costs. During the month, the company started 300,000 kilograms of cheese topping in production. At the end of the month, 40,000 kilograms of cheese topping was in work in process inventory, 100% completed as to raw materials and 40% completed in terms of conversion costs. Assume that the following costs were recorded by Cheese Please Ltd for the beginning work in process and the production performance for April: Beginning inventory: Raw materials costs $ 60,000 Conversion costs 36,000 October production costs: Raw materials costs 300,000 Conversion costs 284,200 Required: a)Prepare a schedule analysing the physical flow of units and calculating the equivalent units of both direct material and conversion for April. Use weighted average process costing. b)Calculate the unit cost for each kilogram of cheese topping. c)Determine the total costs of the kilogram of cheese topping finished during April. What is the balance of the ending work in process inventory?

Expert Solution

The answer has been presented in the supporting sheets. All the parts has been solved with detailed explanation and format. For detailed answers refer to the supporting sheets.

ekkarill92 answered 2 hours ago

There is a small place that makes pizza produces three goods (bread, cheese, and pizza), each...

There is a small place that makes pizza produces three goods (bread, cheese, and pizza), each produced by a separate company. The bread and cheese companies produce all the inputs they need to make bread and cheese, respectively. The pizza company uses the bread and cheese from the other companies to make its pizzas. All three companies employ labour to help produce their goods, and the difference between the value of goods sold and the sum of labour and input...

Assume the Ricardian model where the marginal product of labor in the home country is 3 in the cheese industry and 2 in the wine industry.

1)Assume the Ricardian model where the marginal product of labor in the home country is 3 in the cheese industry and 2 in the wine industry. The home country has 10 workers. The relative price of wine (Pw/Pc) is 2 after trade. After trade the home country consumes 12 units of wine. Use this information to calculatea. The relative price of wine before tradeb. The slope of the production possibilities frontier, where wine is on the horizontal axis and cheese...

Please answer these questions in depth in relation to the fast food industry in Japan (1)...

Please answer these questions in depth in relation to the fast food industry in Japan (1) Size of the market, its growth rate, and its long-term potential. (2) Major product types to be found in the chosen market.

Question 2 Westel Ltd uses a job costing system. At the beginning of...

Question 2 Westel Ltd uses a job costing system. At the beginning of the month of June, two orders were process as follows: Order 88 Order 105 Direct Materials $1,000 $900 Direct Labour $1,200 $200 Overhead allocation $1,800 $300 There was no inventory in finished goods on June 01. During the month of June orders numbered 106 through 120, inclusive were put into process. Direct materials requirements amounted to...

Please answer all in microsoft word 1.For the fast food industry analyze the industry’s production process...

Please answer all in microsoft word 1.For the fast food industry analyze the industry’s production process and technologies used 2. For the shoe and boot industry analyze the industry’s production process and technologies used

Question 2 Hydropure Ltd commenced operations at the beginning of the current year. One of the...

Question 2 Hydropure Ltd commenced operations at the beginning of the current year. One of the company’s products, an alkaline antioxidant water filter, sells for $299 per unit. Information related to the current year’s activities are as follows: $ Variable costs per unit: Direct materials 40 Direct labour 74 Manufacturing overhead 96 Annual fixed costs: Manufacturing overhead 700,000 Selling and administrative 880,000 Production and sales activity: Production (units) 25,000 Sales (units) 20,000 Hydropure Ltd carries its finished goods inventory...

Analyze the Structure of the Industry- Biogen ( 2 page non plagarised please)

A 2 page assignment of Defining the Industry - Biogen (non plagarised please)

2. Suppose an industry consists of two firms that compete in prices. Each firm produces one...

2. Suppose an industry consists of two firms that compete in prices. Each firm produces one product. The demand for each product is as follows: q1 = 25 − 5p1 + 2p2 q2 = 25 − 5p2 + 2p1 The cost functions are C(qi) = 2 + qi for i = 1, 2. The Nash equilibrium price is 3.75 (e) What is the percentage markup of price over marginal cost here (this is called the Lerner index)? Do the firms...

2. Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a...

2. Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.30 per micron Direct labor: 1.1 hours per toy at $7.00 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials: 80,000 microns were purchased at a cost...

Question