1.Waterway Company had the following department information for the month: Total materials costs $52000 Equivalent units of production - materials 10000 Total conversion costs $99000 Equivalent units of production - conversion costs 25000 What is the total manufacturing cost per unit?
2.Vaughn Industries has 8100 equivalent units of production for both materials and for conversion costs. Total manufacturing costs are $140930. Total materials costs are $98000. How much is the conversion cost per unit?
3. Bonita Industrieshas beginning and ending work in process
inventories of $160000 and $175000 respectively. If total
manufacturing costs are $680000, what is the total cost of goods
manufactured?
In: Accounting
In: Economics
Inventory Costing Methods—Perpetual Method
Arrow Company is a retailer that uses the perpetual inventory system.
| August | 1 | Beginning inventory | 80 | units of Product A @ | $1,600 | total cost |
| 5 | Purchased | 100 | units of Product A @ | $2,116 | total cost | |
| 8 | Purchased | 200 | units of Product A @ | $4,416 | total cost | |
| 11 | Sold | 170 | units of Product A @ | $4,800 | total sale |
Calculate the inventory cost of item A on August 11 (after the sale) using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.
Do not round until your final answers. Round your final answers to the nearest dollar.
In: Accounting
a. The market price is determined by:
multiple choice 1
marginal revenue and marginal cost.
market demand and market supply.
marginal revenue and average total cost
b. To determine the firm's profit-maximizing output, the firm will set its marginal revenue equal to:
multiple choice 2
marginal cost.
average variable cost.
average total cost.
market price.
c. A firm is making an economic profit if, at the profit-maximizing output, the market price is:
multiple choice 3
less than average total cost.
less than average variable cost.
greater than average total cost.
greater than average variable cost.
d. If firms are earning economic profits, the market price will:
multiple choice 4
fall as some existing firms exit the market.
increase as some existing firms exit the market.
fall as new firms enter the market.
increase as new firms enter the market.
In: Economics
|
Percentage of Completion |
||||
|
Units |
Direct Materials |
Conversion Costs |
||
|
Work-in-process beg, May 1st |
5,000 |
30% |
65% |
|
|
Units Completed and Transferred out |
9,000 |
|||
|
Work-in-process end, May 30th |
6,000 |
50% |
10% |
|
|
Costs in the WIP, May 1st |
Amount |
|
Materials Cost |
$5,300 |
|
Conversion Cost |
$10,200 |
|
Total Cost |
$15,500 |
|
Costs added during May 30th |
|
|
Materials Cost |
$250,000 |
|
Conversion Cost |
$430,000 |
|
Total Cost |
$680,000 |
Required:
a. Determine the equivalent units of production for materials and
conversion
b. Determine the cost per equivalent unit for materials and
conversion costs (consider two decimals ) .
c. Determine the total cost of completed & transferred out
units and total cost of work in process ending .
In: Accounting
I have a table to fill out for a Healthcare Finance class and I'm really struggling with the TOTAL UNITS column of the first table and the other colums of the tables after that. Help?
| Activity | Annual Costs | Total Units1 | Unit | Alloc Rate | Cost Driver | Test A | Test B | Test C | Test D | |
| Receive specimen | 10,000 | 5000 | Tests | 2.00 | No. Tests | 2,000 | 1,500 | 1,000 | 500 | |
| Equipment setup | 25,000 | Minutes | 8.33 | Minutes per test | 5 | 5 | 10 | 10 | ||
| Run test | 100,000 | Minutes | 2777.78 | Mminutes per test | 1 | 5 | 10 | 20 | ||
| Record results | 10,000 | Minutes | 1000.00 | Minutes per test | 2 | 2 | 2 | 4 | ||
| Transmit results | 5,000 | Minutes | 416.67 | Minutes per test | 3 | 3 | 3 | 3 | ||
| Total annual costs | 150,000 | |||||||||
| 1Determine total number of units per activity. | ||||||||||
| b. Calculate cost per test - allocation rate x units per test (20 points) | ||||||||||
| Test | A | Test | B | Test | C | Test | D | |||
| Activity | Alloc Rate | Units | Cost | Units | Cost | Units | Cost | Units | Cost | |
| Receive specimen | 1 | 1 | 1 | 1 | ||||||
| Equipment setup | 5 | 5 | 10 | 10 | ||||||
| Run test | 1 | 5 | 10 | 20 | ||||||
| Record results | 2 | 2 | 2 | 4 | ||||||
| Transmit results | 3 | 3 | 3 | 3 | ||||||
| Total cost per test | ||||||||||
| c. Confirm accounting for Total annual cost. (16 points) | ||||||||||
| Test | Total # | Cost per | Annual Cost | |||||||
| A | 2000 | |||||||||
| B | 1500 | |||||||||
| C | 1000 | |||||||||
| D | 500 | |||||||||
| Total annual costs | ||||||||||
In: Accounting
Silver City Paints provides the following information for the MixingDepartment for the month of September2018
|
Units |
Costs |
|
|
Beginning Work-in-Process Inventory |
0 |
$0 |
|
Started in Production in September |
21,000 |
40,550* |
|
Total to Account For |
21,000 |
40,550 |
|
Completed and Transferred to Finishing Department |
||
|
during September |
11,000 |
? |
|
Ending Work-in-Process Inventory (15% complete for |
||
|
direct materials; 50% complete for conversion costs) |
10,000 |
? |
|
Total Accounted For |
21,000 |
$40,550 |
|
*Includes $3,750 direct materials and $36,800 conversion costs |
||
Complete a production cost report for the Mixing Department for the month of September 2018 to determine the cost of the units completed and transferred out and the cost of the ending Work-in-Process Inventory-dashMixing. Assume Silver City Paints uses the weighted-average method.
Begin by completing a production cost report for the Mixing Department for the month of September 2018
(Complete all answer boxes. Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent. Abbreviation used: EUP = equivalent units of production.)
|
Silver City Paints |
|||||||||
|
Production Cost Report-Mixing Department |
|||||||||
|
Month Ended September 30, 2018 |
|||||||||
|
Physical |
Direct |
Conversion |
|||||||
|
UNITS |
Units |
Materials |
Costs |
||||||
|
Units to account for: |
|||||||||
|
_________________________________ |
_______ |
||||||||
|
_________________________________ |
_______ |
||||||||
|
Total units to account for |
_______ |
||||||||
|
Units accounted for: |
|||||||||
|
_________________________________ |
________ |
________ |
________ |
||||||
|
_________________________________ |
________ |
________ |
________ |
||||||
|
Total units accounted for |
________ |
________ |
________ |
||||||
|
Direct |
Conversion |
Total |
|||||||
|
COSTS |
Materials |
Costs |
Costs |
||||||
|
Costs to account for: |
|||||||||
|
______________________ |
________ |
________ |
________ |
||||||
|
______________________ |
________ |
________ |
________ |
||||||
|
Total costs to account for |
|||||||||
|
______________________ |
________ |
________ |
________ |
||||||
|
Cost per equivalent unit |
________ |
________ |
________ |
||||||
|
Costs accounted for: |
Direct Materials |
Conversion Cost |
Total Cost |
||||||
|
______________________ |
________ |
________ |
__________ |
||||||
|
______________________ |
________ |
________ |
__________ |
||||||
|
Total costs accounted for |
________ |
________ |
__________ |
||||||
The mixing department transferred _________ units with a cost of $______________ to the Finishing department in September. The ending balance in the Work-in-Process Inventory- Mixing is $_______________
In: Accounting
PA6-1 Calculating Contribution Margin, Contribution Margin Ratio, Break-Even Point [LO 6-1, 6-2]
Hermosa, Inc., produces one model of mountain bike. Partial
information for the company follows:
| Number of bikes produced and sold | 520 | 820 | 1,000 | |||
| Total costs | ||||||
| Variable costs | $ | 123,240 | $ | ? | $ | ? |
| Fixed costs per year | ? | ? | ? | |||
| Total costs | ? | ? | ? | |||
| Cost per unit | ||||||
| Variable cost per unit | ? | ? | ? | |||
| Fixed cost per unit | ? | ? | ? | |||
| Total cost per unit | ? | $ | 524.75 | ? | ||
Required:
1. Complete the table. (Round
your "Cost per Unit" answers to 2 decimal
places.)
| Number of bikes produced and sold | 520 units | 820 units | 1000 units |
| Total Costs | |||
| Variable Costs | $123,340 | ||
| Fixed Costs per year | |||
|
Total Cost |
$123,240 | $0 | $0 |
| Cost per unit | |||
| Variable cost per unit | |||
| Fixed cost per unit |
| Total cost per unit | $0.00 | $574.75 | $0.0 |
2. Calculate Hermosa’s contribution margin ratio
and its total contribution margin at each sales level indicated in
the table assuming the company sells each bike for $800.
(Round your percentage answers to 2 decimal places. (i.e.
.1234 should be entered as 12.34%.))
| 520 units | 820 units | 1000 units | ||||
| Contribution Margin Unit | % | % | % | |||
| Total Contribution margin ratio |
4. Calculate Hermosa’s break-even point in units and sales revenue. (Round your answers to the nearest whole number.)
| Break-even units | Bikes | |
| Break-Even Sales Revenue |
In: Accounting
Sailplanes use updrafts to stay aloft for hours at a time. Near one particular airfield, a stone quarry (with very dark rocks) surrounded by a wooden area provides a particularly regular source for updrafts on hot days. With your knowledge of heat transfer, explain the processes that create the updraft
In: Mechanical Engineering
What happens to the light [energy] after it enters an eye and hits the rods and cones? I presume the energy becomes electrical, and it must be near 100% perfect, else our eyes would heat up? Or am I missing something?
The motivation of this question is solar panel technology.
In: Physics