Production Report, Weighted Average

Manzer Inc. manufactures bicycle frames in two departments: cutting and welding. Manzer uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the cutting department for October:

Required:

Prepare a production report for the cutting department. Round cost per equivalent unit to the nearest cent. Use this rounded amount for further calculations. If an amount box does not require an entry, leave it blank or enter "0".

Problem 16-6A (Part Level Submission) Hamilton Processing Company uses a weighted-average process cost system and manufactures a single product—an industrial carpet shampoo and cleaner used by many universities. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the Mixing and Cooking department is as follows. Collapse question part (a) Prepare a schedule that shows how the equivalent units were computed so that you can complete the “Quantities: Units accounted for” equivalent units section shown in the production cost report, and compute October unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) HAMILTON PROCESSING COMPANY Mixing and Cooking Department Production Cost Report For the Month Ended October 31 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, October 1 (all materials, 70% conversion costs) 24,600 Started into production 184,500 Total units 209,100 Units accounted for Transferred out 147,600 Work in process, October 31 (60% materials, 40% conversion costs) 61,500 Total units accounted for 209,100 Costs Materials Conversion Costs Total Unit costs Total Costs $295,200 $129,150 $424,350 Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, October 1 $36,900 Started into production 387,450 Total costs

Production Report, Weighted Average Manzer Inc. manufactures bicycle frames in two departments: cutting and welding. Manzer uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the cutting department for October: Production: Units in process, October 1, 40% complete 4,800 Units completed and transferred out 32,640 Units in process, October 31, 60% complete 9,600 Costs: WIP, October 1 $ 38,400 Costs added during October 729,600 Required: Prepare a production report for the cutting department. Round cost per equivalent unit to the nearest cent. Use this rounded amount for further calculations. If an amount box does not require an entry, leave it blank or enter "0". Manzer Inc. Cutting Department Production Report For the Month of October (Weighted Average Method) Unit Information Physical flow: Units in beginning WIP Units started Total units to account for Equivalent units: Units completed Units in ending WIP Total units accounted for: Equivalent units: Units completed Units in ending WIP Total equivalent units Cost Information Costs to account for: Beginning WIP $ Incurred during October Total costs to account for $ Cost per equivalent unit $ Costs accounted for: Transferred Out Ending Work in Process Total Goods transferred out $ $ $ Goods in ending WIP Total costs accounted for $ $ $ Check My Work

Production Report, Weighted Average

Manzer Inc. manufactures bicycle frames in two departments: cutting and welding. Manzer uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the cutting department for October:

Required:

Prepare a production report for the cutting department. If an amount box does not require an entry, leave it blank or enter "0".

A poll conducted in 2013 surveyed a random sample of 2003 American adults, and 18% of them said that they have seen a ghost. Construct a 95% confidence interval for the proportion of American adults who have seen a ghost.

Why these four options' premiums are higher than others and why some are equal. (European put, American put, European put is a down-and-out barrier option and American put is a down-and-out barrier option. )

On October 1, 2017, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company’s first set of financial statements on December 31, 2017. The company’s initial chart of accounts follows.

Required:

1. Prepare journal entries to record each of the above transactions for Business Solutions.
2. Prepare ledger accounts (in balance column format) and post the journal entries from requirement 1 to them.
3. Prepare a trial balance as of the end of November.

On October 1, 2018, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. Rey adopts the calendar year for reporting purposes and expects to prepare the company’s first set of financial statements on December 31, 2018. The company’s initial chart of accounts follows.

Required:

1. Prepare journal entries to record each of the above transactions for Business Solutions.
2. Post journal entries from requirement 1 to the general ledger accounts.
3. Prepare a trial balance as of the end of November.

Case #1: Tom is an avid collector of sports memorabilia and he has a collection worth $125,000. His cost basis in his collection is $115,000. Tom is a supporter of the American Cancer Society as his wife was afflicted with the disease and passed away 3 years ago. Tom is looking to gift to the American Cancer Society his sports memorabilia collection, and he has asked you the best way to do so for him to earn the largest deduction for tax purposes.

What are the issues he should consider in giving the collection (or value of his collection) to the American Cancer Society? What recommendations do you give Tom regarding getting the value of his collection to the American Cancer Society that will benefit both Tom and the charity?

Tower Company owned a service truck that was purchased at the beginning of 2018 for $31,000. It had an estimated life of three years and an estimated salvage value of $4,000. Tower company uses straight-line depreciation. Its financial condition as of January 1, 2020, is shown in the following financial statements model.

In 2020, Tower Company spent the following amounts on the truck:

Record the 2020 transactions in a statements model like the preceding one. (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change and NA for not affected. Round your answers to the nearest dollar amount. Enter any decreases to account balances with a minus sign.)