Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PLEASE ANSWER THE FOLLOWING PLEASE I PROMISE TO LIKE YOUR ANSWER: 2. The equivalent units of production for conversion. 7. The unit cost for materials
PLEASE ANSWER THE FOLLOWING PLEASE I PROMISE TO LIKE YOUR ANSWER:
1. Peter Senen Manufacturing Company has just completed its production activities for February 2019. The production manager furnished you their data for this month: Department X Department Y Quantity units: In process, February 1 16,000 10,000 Stage of completion 4/5 40% Started in process 64,000 Received from prior dept. 70,000 In process, February 28 ? 12,000 Stage of completion 2/5 2/3 Costs data: In process, February 1 P 21,020 P20,300 Current costs Materials 28,350 46,800 Labor 15,300 25,200 Manufacturing Overhead 9,180 14,400 In Department X, material application is described to you as follows: 10% is applied at the start of the process: 25% when the process reaches the mid-point; and the remainder, when the process reaches 85% completion. Labor and Overhead are applied evenly throughout the process. In Department Y, the application of material is described as follows: 20% when the process is '1/4 completed: 30% when the process is 1/2 completed and the balance, at the end of the process. Both departments use the FIFO method 2. The equivalent units of production for conversion.
7. The unit cost for materials in Department Y is
8. The unit cost for conversion cost in Department Y is
9. Total unit cost for materials in department x is
10. total unit costs in department y is
11. total unit cost in department Y is
12. total cost of completed and transferred out units in department y
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started