Overboard Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: UnitsConversion CostBeginning work in process inventory23,000?$39,000?Units started into production, and costs incurred during the month160,000?$237,000?Units completed and transferred out140,000? The cost per equivalent unit for conversion cost is closest to:
A. $1.79
B. $1.35
C. $1.41
D. $1.88
Answer: A
You might also like to view...
In most occasions, customers will be able to tell what products they want and need
Indicate whether the statement is true or false
Use the following information regarding Larson Company to answer the question below. 1. Established a petty cash fund in the amount of $250. 2. Reimbursed the petty cash fund given the following petty cash fund disbursements: a. Payment for postage, $20. b. Payment for supplies, $70. 3. Increased the petty cash fund to $300. 4. Cash over at the end of the first period was $5. The entry to record
the reimbursement of the petty cash fund would include a A) credit to Postage Expense for $20. B) debit to Petty Cash for $90. C) credit to Cash for $85. D) debit to cash for $5.
Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000,
$60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is: A) Work in Process--Department 3 375,000Work in Process--Department 2 375,000 B) Work in Process--Department 3 570,000Work in Process--Department 2 570,000 C) Work in Process--Department 3 490,000Work in Process--Department 2 490,000 D) Work in Process--Department 3 555,000Work in Process--Department 2 555,000
Constraints can be overcome by all of the following except?
a. Designing effective contingency plans or procedures b. Enhancing product marketing plans c. Avoiding having unconstrained resources doing unnecessary work d. Designing better material routes or layouts