Information for the Hi-Test company’s production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost and $56.320 conversion cost). = $101,320 Costs incurred in September Direct materials = $375,000 Conversion. = $341.000 Work in process inventory, September 30 (7.000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) = $___? Units started in September = 28.000 Units completed and transferred to finished goods inventory. = 23.000 < Question > The number of equivalent units for materials for the month. The number of equivalent units for conversion for the month.
Information for the Hi-Test company’s production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost and $56.320 conversion cost). = $101,320 Costs incurred in September Direct materials = $375,000 Conversion. = $341.000 Work in process inventory, September 30 (7.000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) = $___? Units started in September = 28.000 Units completed and transferred to finished goods inventory. = 23.000 < Question > The number of equivalent units for materials for the month. The number of equivalent units for conversion for the month.
Chapter5: Process Costing
Section: Chapter Questions
Problem 3EA: Given the following information, determine the equivalent units of ending work in process for...
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- Choose a major publicly traded corporation, then go to the corporation's site and retrieve the information needed for this assignment.
- Provide information about the history of the corporation and its current product offerings.
- Provide a screenshot of the corporate’s latest reported income statement.
- Organize the income statement in an Excel file to enable you to verify the arithmetic in the income statement, and explain your verifications.
- Also, explain the nature of each item in the income statement.
Information for the Hi-Test company’s production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process.
- Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost and $56.320 conversion cost). = $101,320
- Costs incurred in September
Direct materials = $375,000
Conversion. = $341.000
- Work in process inventory, September 30 (7.000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) = $___?
Units started in September = 28.000
Units completed and transferred to finished goods inventory. = 23.000
< Question >
- The number of equivalent units for materials for the month.
- The number of equivalent units for conversion for the month.
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