The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 8,000 Conversion costs, 3,000 units, 66.7% completed 6,000 Materials added during April, 10,000 units 30,000 Conversion costs during April 31,000 Goods finished during April, 11,500 units --- April 30 work in process, 1,500
units, 50% completed --- All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April is:
A) $3.00
B) $3.80
C) $2.92
D) $2.31
A
You might also like to view...
The night before the speech, Anna tried standing tall, leaning forward, and opening her arms to the audience, staking out a broad surface with her hands. Which part of the game plan for conquering speech anxiety was Anna pursuing?
a. Practicing a powerful pose b. Relaxing before the speech c. Centering her breadth before the speech d. Being ready to deliver her speech
Discuss the financial statement presentation of the account Allowance to Adjust Short-Term Investments to Market, distinguishing between the effect of a debit balance and the effect of a credit balance in the account
Hancock Medical Supply Co., earned $88,000 of revenue on account during Year 1, its first year of operation. During Year 1, Hancock collected $69,600 of cash from its receivables accounts. The company did not write-off any uncollectible accounts. It estimates that it will be unable to collect 1% of revenue on account. What is the net realizable value of receivables that will be reported on the balance sheet at December 31, Year 1?
A. $18,400 B. $18,216 C. $17,704 D. $17,520
Individual shareholders would prefer to have a gain on a corporate reorganization treated as a capital gain rather than as a dividend, because they can reduce the amount taxable by their basis in the stock involved
a. True b. False Indicate whether the statement is true or false