Business, 11.10.2020 23:01 mackdoolittle1

Angerstein Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. In the Assembly Department, the material received from Printing is assembled into individual calendars and bound. Each department maintains its own Work in Process Inventory, and costs are assigned using FIFO process costing. In Assembly, conversion costs are incurred evenly throughout the process; direct material is added at the end of the process. For September, the following production and cost information is available for the Assembly Department: • Beginning WIP Inventory: 5,000 calendars (30 percent complete as to conversion); transferred in cost, $7,550; conversion cost, $1,093
• Transferred in during September: 80,000 calendars
• Current period costs: transferred in, $80,000; direct material, $10,270, conversion, $13,991
• Ending WIP Inventory: 6,000 calendars (80 percent complete as to conversion) For the Assembly Department, compute the following:
a. Equivalent units of production for each cost component EU for transferred in 85,000 x EU for direct materials 79,000 EU for conversion 83,800 x
b. Cost per EUP for each cost component Note: Round your answers to two decimal places. Transferred in cost per EUP $ 87.550 X Material cost per EUP Conversion cost per EUP $ 0 x
c. Cost transferred to Finished Goods Inventory Note: Round your final answer to the nearest whole dollar. $ 105,860
d. Cost of ending WIP Inventory Note: Round your final answer to the nearest whole dollar. $ $ 7,044

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 03:00

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Answers: 3

Answer

Business, 22.06.2019 09:00

Asap describe three different expenses associated with restaurants. choose one of these expenses, and discuss how a manager could handle this expense.

Answers: 1

Answer

Business, 22.06.2019 15:20

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u.s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is

Answers: 2

Answer

Business, 22.06.2019 19:20

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

Answers: 1

Answer

You know the right answer?

Angerstein Inc. produces calendars in a two-process, two-department operation. In the Printing Depar...

Questions