b) Determine the equivalent units of production for materials and conversion costs.

c) Compute the unit costs of production.

Unit Costs: Materials $_____Conversion Costs$______ Total Unit Cost $______

d) Determine the costs to be assigned to the units transferred out and in process for June.

Transferred out $________

Work in process, June 30 $_______

e) Prepare a production cost report for the Molding Department for the month of June.

                                         Craft COMPANY
                                     Molding Department
                                   Production Cost Report
                           For the Month Ended June 30, 2020
                                                                      Equivalent Units

Quantities                   Physical Units          Materials          Conversion Costs

Thank you

Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:

Required:

1. Compute the plantwide predetermined overhead rate.

2. During the year, Job 400 was started and completed. The following information was available with respect to this job:

Compute the total manufacturing cost assigned to Job 400.

3. If Job 400 includes 60 units, what is the unit product cost for this job?

4. If Moody uses a markup percentage of 110% of its total manufacturing cost, then what selling price per unit would it have established for Job 400?

-Predetermined overhead rateper MH?

If Job 400 includes 60 units, what is the unit product cost for this job?

total manufacturing costs?

If Moody uses a markup percentage of 110% of its total manufacturing cost, then what selling price per unit would it have established for Job 400?

What is selling price per unit?

A local Chevrolet dealership carries the following types of vehicles:

Because of recent increases in gasoline prices, the car dealership has noticed a reduced demand for its SUVs, vans, and trucks.

1. Compute the total cost of the entire inventory.

2. Determine whether each inventory item would be reported at cost or net realizable value (NRV). Enter the Cost per Unit for the "Lower of Cost or net realizable value" and then multiply the quantity of each inventory item by the appropriate cost or NRV amount and enter it in the Total column.

3. Prepare necessary entry to write down inventory from cost to net realizable value. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

4. The write-down of inventory from cost to net realizable value reduces total assets and increases total expenses, leading to lower net income and lower retained earnings.

Walton Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 4,000 and 10,000 trophies per year. The following cost data apply to various activity levels:

Required

Complete the preceding table by filling in the missing amounts for the levels of activity shown in the first row of the table. (Round "Cost per unit" answers to 2 decimal places.)

Lou supplier sells High quality-brand batteries to fishing supplies. The annual demand is approximately 1,200 batteries. The supplier pays $28 for each battery and estimates that the annual holding cost is 30 percent of the battery’s value. It costs approximately $20 to place an order (managerial and clerical costs). The supplier currently orders 100 batteries per month.

1. Determine the ordering, holding, and total inventory costs for the current order quantity.

2. Determine the economic order quantity (EOQ).
3. How many orders will be placed per year using the EOQ?
4. Determine the ordering, holding, and total inventory costs for the EOQ. How has ordering cost changed? Holding cost? Total inventory cost?

You are the producer of ice-cold drinks. The more you produce, the more it costs you to produce. Below is your production schedule. Cost to produce one bottle $1 Cost to produce a second bottle $3 Cost to produce a third bottle $5 Cost to produce 1 fourth bottle $7

a) If the price of an ice-cold drink is $2, how many bottles would be produced and consumed, and what is the total surplus?

b) If the price of an ice-cold drink is $4, how many bottles would be produced and consumed, and what is the total surplus?

c) If the price of an ice-cold drink is $6, how many bottles would be produced and consumed, and what is the total surplus?

queston 1 On “Taco Tuesday” a local Mexican restaurant offers gourmet tacos for $2 each. The following table describes the relationship between the number of tacos you eat per visit with your total cost and benefit.

Fill in the blanks for marginal benefit and marginal cost in the above table. Please enter your answers as whole numbers with no decimal places (ie. 4 not 4.00 or "Four").

How many tacos should you eat?

A cost accountant has derived the following data on the weekly output of standard size boxes from a factory.

(a) Determine the regression equation from which we can predict the total cost in terms of the weekly production. (4%)

(b) In the following week it is planned to produce 15,000 standard size boxes. Estimate the total cost of producing this quantity. (1%)

(c) Compute the linear correlation coefficient. Interpret the result.

WEIGHTED AVERAGE METHOD