Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ivanhoe Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are added at the beginning, and conversion costs are incurred uniformly. Production

Ivanhoe Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are added at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows.

Cutting Department

Production DataJuly

T12-Tables

Work in process units, July 1

0

Units started into production

21,600

Work in process units, July 31

3,240

Work in process percent complete as to conversion, July 31

60%

Cost DataJuly

Work in process, July 1

$0

Direct materials used in July

410,400

Direct labor incurred in July

253,152

Manufacturing overhead assigned in July

112,320

Total

$775,872

(a1)

Correct answer icon

Your answer is correct.

Compute the physical units of production.

T12 Tables

Units to be accounted for

enter the number of units

eTextbook and Media

Assistance Used

Attempts: 1 of 3 used

(a2)

  • Your Answer
  • Correct Answer (Used)

Partially correct answer icon

Your answer is partially correct.

Compute equivalent units of production for materials and for conversion costs.

Materials

Conversion Costs

Total equivalent units

enter a number of units

enter a number of units

eTextbook and Media

Solution

Attempts: 3 of 3 used

(a3)

Incorrect answer icon

Your answer is incorrect.

Determine the unit costs of production for July.

Materials

Conversion Costs

Total Costs

Unit costs-T12 Tables

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

eTextbook and Media

Assistance Used

Save for Later

Attempts: 1 of 3 used

Submit Answer

(a4)

The parts of this question must be completed in order. This part will be available when you complete the part above.

(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.

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_2

Step: 3

blur-text-image_step3

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

More Books

Students also viewed these Accounting questions