Question
In: Accounting
Use below information for Questions 1 to 4: The smelting department of Company X has following...
Use below information for Questions 1 to 4:
The smelting department of Company X has following production and cost data for September:
- Production: Beginning work in process 200 units that are 100% complete as to materials and 85% complete as to conversion costs; units started into production 1,000 units; units transferred out to next department
980 units; ending work in process are 100% complete as to materials and 41% complete as to conversion costs.
-
- Manufacturing costs: Beginning work in process TL8,100 materials, TL9,270 labor and TL2,100 manufacturing overhead costs. In current period, TL50,800 worth of materials, TL25,700 worth of labor and TL35,000 worth of manufacturing overhead costs are incurred.
- Compute the material cost portion of the ending inventory if the company uses WA method to compute equivalent units.
- Compute the conversion cost portion of the ending inventory if the company uses FIFO method to compute equivalent units. method to compute equivalent units.
- Compute the material cost portion of the transferred out inventory if the company uses FIFO method to compute equivalent units.
- Compute the conversion cost portion of the transferred out inventory if the company uses WA method to compute equivalent units.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Use below information for Questions 10 to 13: The smelting department of Company X has following...
Use below information for Questions 10 to 13:
The smelting department of Company X has following production
and cost data for September:
Production: Beginning work in process 200 units that are 100%
complete as to materials and 71% complete as to conversion costs;
units started into production 1,000 units; ending work in process
250 in units that are 100% complete as to materials and 57%
complete to conversion costs.
Manufacturing costs: Beginning work in process TL8,100
materials, TL9,270 labor and...
Use below information for Questions 10 to 13: The smelting department of Company X has following...
Use below information for Questions 10 to 13:
The smelting department of Company X has following production
and cost data for September:
Production: Beginning work in process 200 units that are 100%
complete as to materials and 77% complete as to conversion costs;
units started into production 1,000 units; ending work in process
250 in units that are 100% complete as to materials and 50%
complete to conversion costs.
Manufacturing costs: Beginning work in process TL8,700
materials, TL9,200 labor and...
The smelting department of Company X has the following production and cost data for September: •...
The smelting department of Company X has the following
production and cost data for September:
• Production: Beginning work in process 200 units that are 100%
complete as to materials and 82% complete as to conversion costs;
units started into production 1,000 units; units transferred out to
next department 950 units; ending work in process are 100% complete
as to materials and 42% complete as to conversion costs.
• Manufacturing costs: Beginning work in process TL8,200
materials, TL9,270 labor, and...
The smelting department of Company X has the following production and cost data for September: •...
The smelting department of Company X has the following
production and cost data for September:
• Production: Beginning work in process 200 units that are 100%
complete as to materials and 82% complete as to conversion costs;
units started into production 1,000 units; units transferred out to
next department 950 units; ending work in process are 100% complete
as to materials and 42% complete as to conversion costs.
• Manufacturing costs: Beginning work in process TL8,200
materials, TL9,270 labor, and...
The smelting department of Company X has following production and cost data for September: Production: No...
The smelting department of Company X has following production
and cost data for September:
Production: No beginning work in process; units started into
production 1,000 units; units transferred out to next department
900 units; ending work in process 100 units that are 100% complete
as to materials and 4z% complete as to conversion costs.
Manufacturing costs: In current period, TL50,x00 worth of
materials, TL25,y00 worth of labor and TL3t,000 worth of
manufacturing overhead costs are incurred.
(a) (15 points) Assuming...
Use below information for Questions 18 to 20: Company X has collected the following information after...
Use below information for Questions 18 to 20:
Company X has collected the following information after its
first year of sales. Sales were TL1,650,000 on 170,000 units.
Selling expenses were TL215,000 of which 45% was variable. Direct
materials were TL490,000 and direct labor were TL290,000.
Administrative expenses were TL270,000 of which 27% was variable.
MOH was TL381,000 of which 75% was variable.
Q-18) Compute contribution margin.
Q-19) Calculate breakeven point in TL.
Q-20) Calculate units to be sold to achieve...
Q-2) The smelting department of Company X has following production and cost data for September: Production:...
Q-2) The smelting department of Company X has following
production and cost data for September:
Production: Beginning work in process 200 units that are 100%
complete as to materials and 85% complete as to conversion costs;
units started into production 1,000 units; units transferred out to
next department 900 units; ending work in process 300 units that
are 100% complete as to materials and 46% complete as to conversion
costs.
Manufacturing costs: Beginning work in process TL8,600
materials, TL9,230 labor...
Use below information for Questions 1 to 3: Company X manufactures cosmetic products that are sold...
Use below information for Questions
1 to 3:
Company X manufactures cosmetic
products that are sold through a network of sales agents. The
agents are paid a commission at a percent of sales basis. Partial
income statement for the year ending Dec 31, 2017, is as
follows:
Item
Amount (TL)
Sales
COGS
77,000,000
Variable
31,530,000
Fixed
Selling and marketing expenses
8,610,000
Commissions
13,570,000
Fixed costs
10,260,000
The company is considering hiring its
own sales staff to replace the network...
Use below information for Questions 1 to 3: For June 30th of 2017, Company X reported...
Use below information for Questions 1 to 3: For June 30th of
2017, Company X reported raw materials balance of TL20,500 and WIP
balance of TL25,000 in its balance sheet. During July;
• Direct labor of TL250,000 was used.
• TL360,000 worth of raw materials was purchased.
• Manufacturing overhead used (exclusive of indirect materials)
was equal to 67% of direct labor costs. At the end of July, ending
work in process inventory was worth TL59,500. Totol cost of work...
The Smelting Department of Kiner Company has the following production data for November. Production: Beginning work...
The Smelting Department of Kiner Company has the following
production data for November.
Production: Beginning work in process 3,800 units that are
100% complete as to materials and 25% complete as to conversion
costs; units transferred out 9,700 units; and ending work in
process 8,300 units that are 100% complete as to materials and 46%
complete as to conversion costs.
Compute the equivalent units of production for (a) materials and
(b) conversion costs for the month of November.
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