The following information provides the amount of cost incurred in Merch for the cost items indicated. During March 8,500 units of thefirm's single product were manufacturedFactory depreciation experrect SerProduction serviСперитет гента иan isRequired141.200a. How much cost would you expect to be incurred for each of these items during Apr when 9.700 units of the product are plannedfor production? (Do not round intermedine calculFactory on experDPotion supervisoFrey1 of 13Next >

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Answered: The following information provides the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8EB: A production department within a company received materials of $7,000 and conversion costs of $5,000...

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Question 2: Mirbat Company has the following information for the period ended 31 December 2020. Direct material purchases 380000 OMR Direct labor OMR 210000 Factory maintenance 28000 OMR Power and heat-factory 14500 OMR Direct Expenses prime cost Indirect factory labor 23000 10 % of the OMR Freight In 6500 OMR Depreciation - Factory 24800 OMR Inventories, 1 January 2020: Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Inventories, 31 December 2020: Material OMR 18000 Work-in process Finished goods OMR 35000 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
The following information pertains to the production of Beautiful Company for the month of January 2022: How much is the cost assigned to the transferred-out units? A. 999,750 B. 970,000 C. 996,502 D. 1,005,000
A product passes through three processes-P, Q and R. The details of expenses incurred on the three processes during the year 2019 were as under : P R Units Issued 10,000 $ 100 Cost per Unit Sundry Materials Labour Sale Price of Output (per unit) Management expenses during the year were $ 80,000 and selling expenses were $ 50,000. These are not allocable to the processes. Actual output of the three processes was : Process P-9,300 units ; Process Q-5,400 units ; Process R-2,100 units. Two-thirds of the output of Process P and one-half of the output of Process Q was passed on to the next process and the balance was sold. The entire output of Process R was sold. The normal loss of the three processes, calculated on the input of every process, was: Process P-5%; Process Q-15% ; and Process R–20%. The loss of Process P was sold at $ 2 per unit, that of Process Q at $ 5 per unit and that of Process R at $ 10 per unit. Prepare the three Process Accounts and the Profit & Loss A/c 16,000 30,000…
From the following data, determine the total Cost of Goods Manufactured (COGM): Costs of units in beginning Work-in-Progress (WIP) Inventory $78500.00Costs added to units in beginning WIP Inventory this period 19500.00Costs of units started and completed 153000.00Cost of units started and incomplete 57500.00 Cost of units in ending WIP inventory 57500.00 A. $269500.00 B. $251000.00 C. $268000.00D. $308500.00
Question 2: Mirbat Company has the following information for the period ended 31 December 2020. Direct material purchases OMR 380000 Direct labor OMR 210000 Factory maintenance 28000 OMR Power and heat-factory 14500 OMR Direct Expenses prime cost Indirect factory labor 23000 10 % of the OMR Freight In 6500 OMR OMR Depreciation - Factory 24800 Advertisement expenses OMR 4500 Inventories, 1 January 2020: Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials 3400 OMR Depreciation-administrative 11800 OMR Inventories, 31 December 2020: Material OMR 18000 Work-in process Finished goods OMR 35000 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
Question 2: Mirbat Company has the following information for the period ended 31 December 2020. OMR 380000 OMR 210000 Direct material purchases Direct labor OMR 28000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 14500 10 % of the prime cost OMR 23000 OMR 6500 OMR 24800 OMR 4500 Direct Material OMR 44300 Work-in-process OMR 51200 Finished goods OMR 77000 Purchase returns of direct materials OMR 3400 Depreciationadministrative OMR 11800 Inventories, 31 December 2020: Material OMR 18000 Work-in process OMR 35000 Finished goods 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement IL Calculate unit production cost.
Question 2: Muscat Corany has the following information for the period ended 31 December 2020. Direct material purchases OMR 380000 Direct labor OMR 210000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 28000 OMR 14500 10 % of the prime cost OMR 23000 OMR 6500 OMR 24800 OMR 4500 Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Depreciation-administrative Inventories, 31 December 2020: OMR 11800 Material OMR 18000 Work-in process Finished goods OMR 35000 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
Brian Pogi Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. a. How much is the period cost? b. What amount should the entity debit to finished goods?
Question 2: ABC Company has the following information for the period ended 31 December 2020. Direct material purchased OMR 360000 Direct labor OMR 200000 Factory maintenance OMR 29000 Power and heat—factory OMR 18500 Direct Expenses 15 % of the direct labor cost Indirect factory labor OMR 21000 Freight In OMR 7000 Depreciation - Factory OMR 22300 Advertisement expenses OMR 8500 Inventories, 1 January 2020: Direct Material OMR 41700 Work-in-process…
A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
Question 2: ABC Company has the following information for the period ended 31 December 2020. Direct material purchased OMR 360000 Direct labor OMR 200000| Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses OMR 29000 OMR 18500 15 % of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 Inventories, 1 January 2020: Direct Material OMR 41700 Work-in-process Finished goods OMR 50000 OMR 75000 Purchase returns of direct materials OMR 7400 |Depreciation-administrative OMR 13800 Inventories, 31 December 2020: Material OMR 19000 Work-in process OMR 32000 Finished goods 3000 Units Total Production Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of raw materials 1 Jan 2020 Inventory of finished goods 1 Jan 2020 Work in progress 1 Jan 2020 Wages (direct RM180,000, factory indirect RM145,000) Royalties Carriage inwards (on raw materials) 21,000 38,900 13,500 325,000 7,000 3,500 370,000 230,000 12,000 31,000 7,500 13,700 44,000 30,000 11,500 12,000 4,200 13,400 2,300 4,800 5,900 Purchases of raw materials Productive machinery (cost RM280,000) Administration computers (cost RM20,000) General factory expenses Lighting Factory power Administration salaries Sales representative salaries Commission on sales Rent Insurance General administration expenses Bank charges Discount allowed Carriage outwards Sales Account receivable and accounts payable 1,000,000 64,000 142,300 16,800 1,500 60,000 Bank Cash Drawings Capital as at 1 Jan 2020 357,800 1,421,800 1,421,800 ТОTAL

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