Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Hello! Can you please help me to understand the 5 questions in the attached document? I am struggling with them. Thank you so much in

Hello! Can you please help me to understand the 5 questions in the attached document? I am struggling with them. Thank you so much in advance for your assistance!

image text in transcribed
1. Jonas Company had no beginning inventory and adds all b) $1.00 if total conversion cost is $17,500 month's sales. If units cost $8 each to produce, how much is materials at the very beginning of its only process. Assume February's total cost of production? 40,000 units were started, and 50% complete at month's end. c) $1.00 if total conversion cost is $10,000 Total costs were $10,000 for material and $20,000 for Question 4 options: conversion. The cost per equivalent unit of conversion is d) none of these a) $0 e) $1.00 if total conversion cost is $15,000 b) $60,800 Question 1 options: a) $0.48 C) $57,600 b) $1.00 3. Mendes Company makes units, and each unit requires 3 d) $59,200 c) none of these pounds of material at $2 per pound. 600 and 700 units will be e) none of these built in May and June, respectively. Mendes keeps material on d) $2.00 hand at 10% of the next month's production needs. How much is the material cost for May's output? 5. Total production of 1,000 units of finished goods required Question 3 options: 2,000 actual hours at $14 per hour. The standard is 3 hours per e) $0.5 unit of finished goods, at a standard rate of $11.50 per hour. a) $3,500 Which of the following statements is true? b) $2,400 Question 5 options: a) The labor rate variance is $5,000 unfavorable. 2. Swift Company had no beginning inventory and adds all C) $3,660 b) The labor efficiency variance is $4,500 unfavorable. materials at the very beginning of its only process. Assume d) $3,060 20,000 units were started, and 10,000 units completed. Ending c) The labor rate variance is $4,500 favorable. work in process is 75% complete. The cost per equivalent unit of e) none of these conversion is d) none of these Question 2 options: 4. Anticipated unit sales for January are 6,000; sales for e) The labor efficiency variance is $5,000 favorable. a) $1.00 if total conversion cost is $8, 750 February are 7,000; and sales for March are 8,000. Finished goods are consistently maintained at 60% of the following

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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 Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

9781266566899

Students also viewed these Accounting questions