Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer all and please show work sembly Departments beginning inventory consisted of 50.000 units, three-fourths complete with respect to direct epartment staned and finished 127,500

answer all and please show work
image text in transcribed
sembly Departments beginning inventory consisted of 50.000 units, three-fourths complete with respect to direct epartment staned and finished 127,500 units this period. The ending inventory consists of uses a process cost accounting system and the weighted-average inventory valuation method. Ins 40,000 the beginning of the process. Goods in Process included direct laber 340,000 for the period. The averhead cost per equivalent unit is: units that are one-fourth complete with respect to direct labor and overhead. All direct materials are added at costs of $30,000 and overhead costs of A $0.373 $0.178 . $0.126 D. $0.213 E. $0.160 The Machining Department started the current month with beginning goods in process inventory of $10,000. During the month, E was assigned the following costs: direct materials, $76,000: droct labor, $24,000; and factory overhead 50% of direct labor cost. Also, inventory with a cost of $108000 was transferred out of the department to the next phase in the process. The ending balance of the Goods in Process laventory account for the Machining Department A $3,000 C. $1,000 E. $49,000 B. $13,000 D. $110,000 in the ratio of 5:3. Fixed costs are $105,000, and the contribution margin per composite unit is $125. What number of smart phones is sold at the break-even point? 49. The extent, or relative size, of foxed costs in the total cost structure is known as operating leverage. True False Kinetic Company estimates that overhead costs for the next year will be $1,600,000 for indirect labor and $400,000 for factory ublties. The company uses drect labor hours as ts overhead allocation base. If 50,000 direct labor hours are planned for this next year, then the plantwide overhead rate is $.025 per direct labor hour True False 51. If Department J uses $40,000 of direct materials and Department K uses $70,000 of direct materials, the following jounal entry would be reoorded by the prooess cost accounting system Raw Materials Inventory 70,000 Goods in Process Inventory, Department Goods in Process Inventory, Department K 40,000 30,000 True False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Advances In Behavioral Research

Authors: Lawrence A. Ponemon, David R.L. Gabhart

1st Edition

0387976191, 978-0387976198

More Books

Students also viewed these Accounting questions

Question

What are some similarities in the world's financial systems?

Answered: 1 week ago

Question

3. Why do people in teams often tolerate social loafers?

Answered: 1 week ago

Question

Define Management by exception

Answered: 1 week ago

Question

Explain the importance of staffing in business organisations

Answered: 1 week ago

Question

What are the types of forms of communication ?

Answered: 1 week ago

Question

Identify three types of physicians and their roles in health care.

Answered: 1 week ago

Question

Compare the types of managed care organizations (MCOs).

Answered: 1 week ago