Weighted-average costs per equivalent unit are $2 for direct materials and $3 for conversion. There are no transferred-in costs and no spoilage. What is the cost of goods completed and transferred out if 10,000 units are completed and 1,000 units are in ending inventory?

Q: In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further…

A: By product means the product other than main product which has been produced along with the main…

Q: Compute for the ending Finished Goods Inventory under Absorption costing. 2. Compute for the Ending…

A: The Only Difference between Absorption costing and Variable Costing is related to Fixed…

Q: 5. By producing 4,000 units and selling 3,600 units of its only product, RNA company incurred the…

A: Solution: Fixed factory overhead per unit = 36000/ 4000 = 9 per unit Unit product cost = 12 + 9 = 21…

Q: Carmelita Inc., has the following information available:   Costs from Beginning Inventory Costs…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: Donovan Company incurred the following costs while producing 500 units: direct materials, $10 per…

A: Finished goods inventory: Finished goods inventory are those goods that is completely ready for sale…

Q: A company’s ending inventory of finished goods has a total cost of $10,000 and consists of 500…

A: Total cost = Direct materials + Direct labor + Overhead

Q: What is the value assigned to the by-product and removed from the work in process at the point of…

A: The term "joint cost" alludes to the cost spent prior to the split-off point on the manufacture or…

Q: In Department III of XYZ Company, a portion of the materials (a by-product) is removed further…

A: Estimated selling expenses = 10% of the sales price = P1.20/unit x 10% = P0.12 per unit Estimated…

Q: XYZ Company uses normal costing. Following are various cost and inventory data for the just…

A: Inventory is the current asset of the company which is used in the production process of the…

Q: Assume the following:   Purchases of raw materials $ 38,000 Indirect materials used in production $…

A: Direct materials are the materials or resources used in the production of a product that are…

Q: Under absorption costing, each unit of the company's inventory would be carried at: * Format: 111…

A: Absorption costing is a method or type of costing, in which total manufacturing  costs whether that…

Q: Kingbird Company accumulates the following data concerning raw materials in making one gallon of…

A: Cost is the price at which the product can be purchased.

Q: Delilah Incorporated provided the following information regarding its only product: Sale price per…

A: CVP analysis is considered a decision-making tool that helps management to make strategies and take…

Q: Razor Ltd had net income of 918,000 based on variable costing. Beginning and ending inventories were…

A: Variable costs: These costs are incurred in conjunction to the volume of goods produced or sold. It…

Q: Weighted-average costs per equivalent unit are $2.90 for direct materials and $3.45 for conversion.…

A:

Q: Company, a portion of the materials (a by-product) is removed further processed and sold. The…

A: By product cost=Total cost of further processing --Estimated further process cost ... SSeparation…

Q: Goodman Company has recently tried to improve its analysis for its manufacturing process. Units…

A: Answer) Calculation of Material cost per unit Material cost per unit = Total materials cost/ Number…

Q: During the most recent year, ABC Company reported the following data. During the year 10,000 units…

A: Under absorption costing fixed overhead costs are allocated to each unit of product produced during…

Q: Donovan Company incurred the following costs while producing 500 units: direct materials, $10 per…

A: In variable costing, only the variable cost is taken into consideration while computing the value of…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: EUP of beginning units = beginning units x% Completed   = 22500 x 40%   = 9000

Q: Noor Chemicals CEO provides the following data received by the production manager. i. Direct…

A: The prime cost is calculated as sum of direct materials cost and direct labor cost. The conversion…

Q: The following cost details relate to one unit of product Zen. (£) Variable materials Variable…

A: Solution: Under marginal costing, Variable production costs are considered as product cost such as…

Q: Using FIFO method, the started in process units is? Using FIFO method, the unit cost is? Using…

A: Let units started = x units  Units started and completed = x units - ending inventory units  = x…

Q: Utilize the weighted average method (for both of the following situations) to determine the…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: During its first year of operations, the McCormick Company incurred the following manufacturing…

A: Fixed overhead per unit = total Fixed overhead/units produced = $390000/39000 units = $10 per unit

Q: The company produced 21,000 units, and sold 15,500 units, leaving 5,500 units in inventory at…

A: A variable costing system refers to the costing system in which manufacturing cost is computed after…

Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…

A: Using FIFO method, the unit cost is = Current Cots/ Equivalent units  = 204,125/248750 = P 0.82

Q: sing the information below, calculate gross profit for the period: Beginning Raw Materials…

A: Gross profit is calculated from the sales and the cost of goods sold.  It tells the business's…

Q: Donovan Company incurred the following costs while producing 500 units: direct materials, $10 per…

A: Unit product cost = Direct materials + Direct labor + Variable manufacturing overhead = $10 + $25 +…

Q: lis Company, a portion of the materials (a by-product) is removed further processed and sold. The…

A: By products are those products which are produced simultaneously with main product. Under reversal…

Q: Carmelita Inc., has the following information available:   Costs from Beginning Inventory Costs…

A: First, compute the equivalent units for direct materials and conversion costs. Then, compute the…

Q: Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the B300 and the T500. An…

A: Under a traditional costing system manufacturing overheads are allocated to the product based on a…

Q: If the beginning finished goods inventory 250 000 ID. prime cost 250 000 ID, ending finished goods…

A: The cost of goods sold, additionally alluded to as the expense of deals or cost of administrations,…

Q: Panta Corp had net income of P226,000 based on variable costing. Beginning and ending inventories…

A: Absorption costing is one of the method of costing where both direct and indirect cost are included…

Q: Kern Corporation produces a single product. Selected information concerning the operations of the…

A: Ending finished goods inventory = Units produced - Units sold = 10,000 units - 9,000 units = 1,000…

Q: (b) For 2018, SQU Company had sales of 150,000 units and production of 200,000 units. There was no…

A: Direct material cost per unit=Direct material costProduction units =150,000200,000=0.94 per unit…

Q: ABC Company produced 3,000 units and sold 2,500 units. Total fixed manufacturing overhead cost is…

A: Under absorption costing, the fixed overheads are consumed for the goods sold during the period.

Q: Classy company which uses absorption costing, produced 1,000 units of a production first year of…

A: Absorption costing and variable costing are two forms of costing techniques that are being used in…

Q: Under absorption costing, a company had the following per unit costs when 5,000 units were produced.…

A: Product cost includes all the costs undertaken on the product till the time it gets ready for sale.…

Q: Nhat is the value assigned to the by- product and removed from the work in process at the point of…

A: By products are those products which are produced or manufactured simultaneously along with main…

Q: Brian Pogi Co. manufactured the following units: Saleable 10,000 units Unsaleable…

A: Manufacturing cost = P 198000 Saleable = 10,000 Units Normal loss = 400 Units Abnormal loss = 600…

Q: Ming Company had income of $771,200 based on variable costing. Beginning and ending finished goods…

A: For calculating income under absorption costing from income under variable costing we have to…

Q: During its first year of operations, the McCormick Company incurred the following manufacturing…

A: The cost can be classified into two categories i.e fixed cost and variable cost. The  FIxed cost…

Q: The following data relates to Alpha Company. Units in beginning inventory — Units produced 25,000…

A: Under variable costing, ending inventory is valued at variable costs and fixed cost is considered as…