Question
In: Accounting
The Penphen Corporation was recently formed to produce a semiconductor chip that forms an essential part...
The Penphen Corporation was recently formed to produce a semiconductor chip that forms an essential part of the personal computer manufactured by a major corporation. The direct materials are added at the start of the production process while conversion costs are added uniformly throughout the production process. June is Penphen’s first month of operations, and therefore, there was no beginning inventory. Direct materials cost for the month totaled $902,500, while conversion costs equaled $5,400,000. Accounting records indicate that 475,000 chips were started in June and 425,000 chips were completed. The Company uses the weighted average method for costing.
Ending inventory was 50% complete as to conversion costs.
1. Using the 5 steps in process costing and the format and terminology in the textbook, calculate the physical units, equivalent units, total costs, cost per equivalent unit, and assign costs to completed and work in process units. Show all calculations.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Big Band Corporation produces a semiconductor chip used on communications.
Big Band Corporation produces a semiconductor chip used on communications. The direct materials are added at the start of the production process while conversion costs are added uniformly throughout the production process. Big Band had no inventory at the start of June. During the month, it incurred direct materials costs of $935,750 and conversion costs of $4,554,000. Big Band started 475,000 chips and completed 425,000 of them in June. Ending inventory was
50% complete as to conversion costs.
Compute (a)...
big band corporation produces a semiconductor chip used on communications. the direct materials are added at...
big band corporation produces a semiconductor chip used on
communications. the direct materials are added at hte start of the
production process while conversion costs are added uniformly
throughout the production process. big band had no inventory at the
start of june. during the month it incurred direct material cost of
$935,750 and conversion costs of $4,554,000. big band started
475,000 chips and completed 425,000 of them in june. ending
inventory was 50% complete as to conversion costs.
Compute (a)...
A silicon semiconductor crystal called a chip is a small electronic device consisting of the...
A silicon semiconductor crystal called a chip is a small
electronic device consisting of
the necessary electronic
components needed to implement various gates.
T
F
The ____________________ connects the CPU, memory, and all other
internal
components.
A). backplane bus
B). I/O bus
C). expansion bus The
instruction set architecture of a machine does not take into
consideration the
format of an
instruction.T
F. Among other things, assembler directives can
____________________________.A). determine the...
I only need part C completed Part A In late 2017, the Nicklaus Corporation was formed....
I only need part C completed
Part A
In late 2017, the Nicklaus Corporation was formed. The corporate
charter authorizes the issuance of 4,000,000 shares of common stock
carrying a $1 par value, and 1,000,000 shares of $5 par value,
noncumulative, nonparticipating preferred stock. On January 2,
2018, 2,000,000 shares of the common stock are issued in exchange
for cash at an average price of $10 per share. Also on January 2,
all 1,000,000 shares of preferred stock are issued...
Part A In late 2015, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance...
Part A In late 2015, the Nicklaus Corporation was formed. The
corporate charter authorizes the issuance of 6,000,000 shares of
common stock carrying a $1 par value, and 2,000,000 shares of $5
par value, noncumulative, nonparticipating preferred stock. On
January 2, 2016, 4,000,000 shares of the common stock are issued in
exchange for cash at an average price of $15 per share. Also on
January 2, all 2,000,000 shares of preferred stock are issued at
$20 per share.
Part B...
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance...
Part A
In late 2017, the Nicklaus Corporation was formed. The corporate
charter authorizes the issuance of 6,000,000 shares of common stock
carrying a $1 par value, and 2,000,000 shares of $5 par value,
noncumulative, nonparticipating preferred stock. On January 2,
2018, 4,000,000 shares of the common stock are issued in exchange
for cash at an average price of $10 per share. Also on January 2,
all 2,000,000 shares of preferred stock are issued at $20 per
share.
Required:
1....
Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance...
Part A
In late 2020, the Nicklaus Corporation was formed. The corporate
charter authorizes the issuance of 6,000,000 shares of common stock
carrying a $1 par value, and 2,000,000 shares of $5 par value,
noncumulative, nonparticipating preferred stock. On January 2,
2021, 4,000,000 shares of the common stock are issued in exchange
for cash at an average price of $10 per share. Also on January 2,
all 2,000,000 shares of preferred stock are issued at $20 per
share.
Required:
1....
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance...
Part A
In late 2017, the Nicklaus Corporation was formed. The corporate
charter authorizes the issuance of 4,000,000 shares of common stock
carrying a $1 par value, and 1,000,000 shares of $5 par value,
noncumulative, nonparticipating preferred stock. On January 2,
2018, 2,000,000 shares of the common stock are issued in exchange
for cash at an average price of $10 per share. Also on January 2,
all 1,000,000 shares of preferred stock are issued at $20 per
share.
Required:
1....
Part A In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance...
Part A In late 2017, the Nicklaus Corporation was formed. The
corporate charter authorizes the issuance of 6,000,000 shares of
common stock carrying a $1 par value, and 2,000,000 shares of $5
par value, noncumulative, nonparticipating preferred stock. On
January 2, 2018, 4,000,000 shares of the common stock are issued in
exchange for cash at an average price of $15 per share. Also on
January 2, all 2,000,000 shares of preferred stock are issued at
$20 per share. Required:
1....
Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance...
Part A
In late 2020, the Nicklaus Corporation was formed. The corporate
charter authorizes the issuance of 4,000,000 shares of common stock
carrying a $1 par value, and 1,000,000 shares of $5 par value,
noncumulative, nonparticipating preferred stock. On January 2,
2021, 2,000,000 shares of the common stock are issued in exchange
for cash at an average price of $10 per share. Also on January 2,
all 1,000,000 shares of preferred stock are issued at $20 per
share.
Required:
1....
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- A textbook of mass 2.08 kg rests on a frictionless, horizontal surface. A cord attached to...
- Describe a time when someone did not really listen to or understand a point you were...
- Enumerations Create an advanced enumeration to represent months (JANUARY – DECEMBER) called enuMonths Add internal properties...
- What is the minimum size of the automorphism group of a simple directed graph having more...
- The birthday paradox says that the probability (chance) that two people in a room will have...
- #include <iostream> #include "lib.hpp" using namespace std; int main() { // declare the bool bool...
- Why do we compare means instead of individual scores? for comparing average SAT test scores across...
ADVERTISEMENT