Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need the answers today. Thanks if you can help. 8. A department had 12,500 units which were 20% complete in beginning Goods in Process

I need the answers today. Thanks if you can help. 8. A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period 60,000 units were transferred in. Ending Goods in Process Inventory was 15,000 units which were 70% complete. Assume this company uses the FIFO method of process costing and direct material is added uniformly throughout the process. What are the equivalent units produced of direct material? (Points: 6) 65,500 57,000 37,000 47,500 25,000 9. A company uses a process cost accounting system. Its Sewing Department's beginning inventory consisted of 50,000 units (1/4 complete with respect to direct labor and overhead). The Sewing Department started and finished 120,000 units this period. Its ending inventory consists of 40,000 units (1/4 complete with respect to direct labor and overhead). All direct materials are added at the beginning of the process. What are the equivalent units of production for the Sewing Department for direct materials and for direct labor and overhead, respectively? (Points: 6) 160,000; 120,000 120,000; 157,500 167,500; 167,500 160,000; 162,500 160,000; 167,500 10. A company uses a process cost accounting system. Its Assembly Department's beginning inventory consisted of 50,000 units, 3/4 complete with respect to direct labor and overhead. The department started and finished 127,500 units this period. The ending inventory consists of 40,000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $24,000 and overhead costs of $32,000 for the period. The direct labor cost per equivalent unit is: (Points: 6) $0.126 $0.160 $0.178 $0.295 $0.373

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

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

13th Edition

8120335643, 136126634, 978-0136126638

Students also viewed these Accounting questions