Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments:

The cost of beginning inventory according to the company’s costing system was $7,805 of which $4,801 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $180,096. The costs per equivalent unit for the month were:

Required:

1. Compute the total cost per equivalent unit for the month.

2. Compute the equivalent units of material and conversion in the ending inventory.

3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

4. Compute the number of units started and completed during the month.

5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.

6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month.

Suppose a farmer is growing corn. The farmer's total variable and fixed costs of growing corn are shown below. A portion of the N fertilizer the farmer applies also runoff into the local stream, but the farmer faces no requirement to control the N runoff from the farm.

What is the farmer's marginal cost to produce corn when producing 140,000 bushels?

$3.21

$3.50

$3.57

$3.75

$4.00

Question 2

Suppose a farmer is growing corn. The farmer's total variable and fixed costs of growing corn are shown below. A portion of the N fertilizer the farmer applies also runoff into the local stream, but the farmer faces no requirement to control the N runoff from the farm.

What is the average total cost to produce corn when producing 140,000 bushels?

$3.21/bu

$3.50/bu

$3.57/bu

$4.00/bu

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments:

The cost of beginning inventory according to the company’s costing system was $7,814 of which $4,883 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $177,672. The costs per equivalent unit for the month were:

Required:

1. Compute the total cost per equivalent unit for the month.

2. Compute the equivalent units of material and conversion in the ending inventory.

3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

4. Compute the number of units started and completed during the month.

5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.

6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month.

arvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments:

The cost of beginning inventory according to the company’s costing system was $7,835 of which $4,830 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $178,861. The costs per equivalent unit for the month were:

Required:

1. Compute the total cost per equivalent unit for the month.

2. Compute the equivalent units of material and conversion in the ending inventory.

3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

4. Compute the number of units started and completed during the month.

5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.

6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month.

Statement of cost of goods manufactured for a manufacturing company

Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

1. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar.

   Johnstone Manufacturing Company
   Statement of Cost of Goods Manufactured
   For the Month Ended March 31
   Machinery depreciation					$
   Direct materials:
   	$
   	$
   			$
   Factory overhead:
   	$
   Total factory overhead
   Total manufacturing costs incurred during March
   Total manufacturing costs					$
   Cost of goods manufactured					$

2. Determine the cost of goods sold for March. Round your answer to the nearest dollar.

Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Enter all amounts as positive numbers. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 $ Direct Materials: $ $ Cost of direct materials used $ Total manufacturing costs incurred Total manufacturing costs $ Cost of goods manufactured $ b. Prepare an income statement for the month ended March 31. Enter all amounts as positive numbers. Zoe Corporation Income Statement For the Month Ended March 31 $ Cost of goods sold: $ $ Cost of goods sold Gross Profit $ Operating expenses: $ c. Prepare only the Inventory section of the balance sheet. Zoe Corporation Inventory Section of the Balance Sheet Inventories: Finished goods $ Work in process Materials Total inventories $

PART III: PROCESS COSTING      /22 MARKS

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Easy Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month:

Work in process, beginning:

Units in process​300

Stage of completion with respect to materials​60%

Stage of completion with respect to conversion​80%

Costs in the beginning inventory:

Materials cost​$594

Conversion cost​$8,256

Units started into production during the month​26,000

Units completed and transferred out​25,500

Costs added to production during the month:

Materials cost​$79,732

Conversion cost​$887,626

Work in process, ending:

Units in process​800

Stage of completion with respect to materials​50%

Stage of completion with respect to conversion​40%

Required:

Prepare a production report for the department using the FIFO method:

Include the following:

a. Quantity schedule that shows total units accounted for and equivalent units (material, conversion).

b. Total costs to be accounted for: cost per equivalent unit for material, conversion and total. You should also complete the dollar reconciliation either as part of section b and c or separately.

c. Costs accounted for: cost of units transferred out and work-in-process

4. The I-75 Carpet Discount Store has an annual demand of 10,000 yards of Super Shag carpet. The annual carrying cost for a yard of this carpet is $0.75, and the ordering cost is $150. The carpet manufacturer normally charges the store $8 per yard for the carpet; however, the manufacturer has offered a discount price of $6.50 per yard if the store will order 5,000 yards. How much should the store order, and what will be the total annual inventory cost for that order quantity?
5. The office manager for the Gotham Life Insurance Company orders letterhead stationery from an office products firm in boxes of 500 sheets. The company uses 6,500 boxes per year. Annual carrying costs are $3 per box, and ordering costs are $28. The following discount price schedule is provided by the office supply company:

a. Determine the optimal order quantity and the total annual inventory cost.
b. Determine the optimal order quantity and total annual inventory cost for boxes of stationery if the carrying cost is 20% of the price of a box of stationery.

1a You now need to calculate the cost of debt for Tesla. Consider the following four bonds issued by Tesla: What is the weighted average cost of debt for Tesla using the book value weights and the market value weights? Does it make a difference in this case if you use book value weights or market value weights? 04/20/2020

Why is my book value weights and market value weights percentage the same amount but the total is different? Did I input the formula wrong? Please help

Am I doing the formula wrong because I'm getting the same market and book value?