Business, 07.03.2020 01:41 rosetoheart2

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 46,000 90 % 55 % Work in process, October 31 31,000 68 % 52 % The department started 390,000 units into production during the month and transferred 405,000 completed units to the next department. Required: Compute the equivalent units of production for October.

Answers: 2

Show answers

Answers

Answer from: teamroper35

Equivalent units:

Equivalent units refer to quantity of incomplete units manufactured by the company that is expressed in terms of quantity of completed units. It is a term used to describe the work in progress units of production of the company which is also known as incomplete units of production.

Weighted average process costing method:

The weighted average method is method used in the process costing to calculate the cost per unit of equivalent units produced and assigns such cost to the equivalent units completed and transferred out of the process and to the equivalents units of ending work-in process inventory.

Under weighted average method, total of all costs including the beginning, work started units and ending inventory is divided by the total equal units of work done to date.

Compute Equivalent units of production for October assuming that the company uses the weighted-average method of accounting for units and costs as follows:

The calculation can be done using the following formula:

Equivalent units of production (Material) = (Units completed during October x100%) + (Ending WIP x' % of completion)

Equivalent units of production (Conversion) = (Units completed during October x 100%) + (Ending WIP x % of completion)

The Computation of Equivalent Units is as follows:

Given,

The department transferred 405,000 units to the next department.

Equivalent units of production (Materials) = (405,000 + 68% x 31,000)

Equivalent units of production (Materials) = 405,000 + 21,080

Equivalent units of production (Materials) = 426,080 units

Equivalent units of production (Conversion) = (405,000 + 52% x 31,000)

Equivalent units of production (Conversion) = 405,000 + 16,120

Equivalent units of production (Conversion) = 421,120 units

Answer from: Quest

Many things could be possible

Answer from: Quest

The answer would be b.

Another question on Business

Business, 21.06.2019 17:00

Problems and applications q3 suppose the demand for french bread falls. illustrate the effect this has on the market for french bread. demand supply price of french bread quantity of french bread d 1 d 2 supply producer surplus in the market for french breadincreases . illustrate the effect the quantity change in french bread has on the market for flour. demand supply price of flour quantity of flour d 1 d 2 s 1 s 2 producer surplus in the market for flour .

Answers: 1

Answer

Business, 22.06.2019 08:40

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

Answers: 3

Answer

Business, 22.06.2019 13:40

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)

Answers: 1

Answer

Business, 22.06.2019 15:30

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times

Answers: 2

Answer

You know the right answer?

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following dat...

Questions