The following data reports on the July production activities of the Molding department at Ash Company. Prepare
Question:
The following data reports on the July production activities of the Molding department at Ash Company. Prepare the Molding department’s production cost report using the weighted average method.
Transcribed Image Text:
Beginning work in process Direct Materials Conversion Direct materials. $ 18,550 Units Percent Complete Percent Complete Conversion. 2,280 $ 20,830 Beginning work in process inventory ... 2,000 100% 20% Costs added this period Units started this period. 32,500 Direct materials 357,500 Completed and transferred out.. 32,000 Conversion 188,670 546,170 Ending work in process inventory...... 2,500 100% 60% Total costs to account for.. $567,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
ASH COMPANYMolding Department Production Cost Report Weighted Average Method For Month Ended July 31 ...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Using the weighted average method of perpetual inventory costing and the information presented in E, compute the cost of materials used and the cost of the July 31 inventory. (Round unit prices to...
-
Redo Problem 11.6 using the weighted average method [Eq. (11.68)] to calculate the stress increase in the clay layer. In problem 11.6 Refer to Figure 11.43. Considering the soil to be a uniform clay...
-
Prepare a cost of production report for the Cutting Department of Perma-Wear Carpet Company for October 2010, using the following data and assuming that all materials are added at the beginning of...
-
A companys retained earnings on December 31, 2018 was $2,190,000 and its shareholders equity was $8,760,000. During 2019 the company reported the following: Net income $225,000 A sale of treasury...
-
Ammonia at 0C, quality 60% is contained in a rigid 200-L tank. The tank and ammonia is now heated to a final pressure of 1 MPa. Determine the heat transfer for the process.
-
You find email evidence that your boss is having an affair with a graduate trainee. What do you do?
-
Discuss differences between private inurement and private benefit. Why do nonprofit organizations need to differentiate between these two concepts?
-
Japanese automakers have long been known for the quality of their products, and especially for the efciency of their stream-lined manufacturing and supply processes. Thus, few people could have...
-
Discuss three major religious values (such as Islam, Christianity and Judaism ) impact relate to the differences in accounting systems and reporting?
-
You have planned for a project to write a software application to take 1 year. The costs on this project are budgeted at $12,500 per month. Six months into the project you find that the software...
-
Refer to the information in QS 20-10. Calculate the Assembly departments cost per equivalent unit of production for materials and for conversion for November. Use the FIFO method. Data From QS 20-10...
-
Refer to the information in QS 20-10. For the Assembly department: (a) Compute the number of units started and completed this period. (b) Compute the equivalent units of production for materials and...
-
A local citizen gives the City of Salem a painting by Picasso to display in city hall. Under what condition will the city not report this painting as a capital asset on its government-wide financial...
-
White Company has two departments, Cutting and Finishing. The company uses job-order costing and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on...
-
Suppose you have two stocks in your portfolio, Max and Min. The expected return of Max is 20% and the expected return of Min is 10%. The standard deviation of Max is 40% and the standard deviation of...
-
Trying to prepare a budget, Grant has done research and found that he spends an average of $ 1 8 9 on his phone / internet / cable service, $ 2 2 0 on his electric bill, and $ 2 8 7 on his health...
-
Question: should Alex rent or buy? Please provide your work detail for full credit! Alex is deciding between renting and buying. He is able to save enough for a 20% down payment for a mortgage loan....
-
Timothy is currently pursuing a financial planning degree with a 100% performance scholarship at Campbellsville University. After graduation, if he expects to earn the following (cash flows)...
-
Ortiz Company produced 10,000 units during the past year but sold only 8,500 of the units. The following additional information is also available: Direct materials used...
-
Question 2 For an n x n matrix A = form) via (aij)
-
On July 1, 2006, Sweetman Company signed a contract to lease space in a building for 15 years. The lease contract calls for annual (prepaid) rental payments of $70,000 on each July 1 throughout the...
-
Racerback Company negotiates a lump-sum purchase of several assets from a contractor who is relocating. The purchase is completed on January 1, 2011, at a total cash price of $1,610,000 for a...
-
In January 2011, InTech Co. pays $1,350,000 for a tract of land with two buildings. It plans to demolish Building A and build a new shop in its place. Building B will be a company office; it is...
-
6-4 6-5 securities? DEFAULT RISK PREMIUM A Treasury bond that matures in 10 years has a yield of 6%. A 10-year corporate bond has a yield of 8%. Assume that the liquidity premium on the cor- porate...
-
In 2023, Adam Sandler invested $75,000 for a 40% interest in a partnership conducting a passive activity. The partnership reported losses of $185,000 in 2023 and $105,000 in 2024, Adam's share being...
-
ABC had equipment stolen from its premises in September 20X8. ABC has made a claim to its insurance company, but the insurance company is disputing the claim based on insufficient security at the...
Study smarter with the SolutionInn App