The following costs were incurred in May: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead Selling expenses Administrative expenses $27,300 $23,600 $33,700 Conversion costs during the month totaled:

The following costs were incurred in May: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead Selling expenses Administrative expenses $27,300 $23,600 $33,700 Conversion costs during the month totaled:

Name: Conversion costs during the month totaled:Multiple Choice$56,700$70,0
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Description: Conversion costs during the month totaled:Multiple Choice$56,700$70,000$156,700$72,100 The following costs were incurred in May:Direct materials$42,700Direct labor$29,400Manufacturing overheadSelling expensesAdministrative expenses$27,300$23,600$33,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The debits to Work in Process-Assembly Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units Conversion costs, 3,000 units, 66.7% completed Materials added during May, 10,000 units Conversion costs during May Goods finished during May, 11,500 units May 31 work in process, 1,500 units, 50% completed $7,600 5,100 26,700 30,700 a. $2.32 Ob. $2.67 C. $3.83 Od. $3.07 0 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 May is
The Assembling Department of Fletcher Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $100,000 Conversion costs: 25% complete 85,700 Cost of work in process, April 1 $185,700 Costs incurred during production in April Direct materials $ 708,000 Conversion costs 300,000 Costs incurred in April $1,008,000 Units transferred out totaled 18,000. Ending work in process was 2,000 units that are 100% complete as to materials and 50% complete as to conversion costs. Instructions Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April. (b) Compute the unit costs for the month. (c) Determine the…
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The following costs were incurred in May: Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expenses Conversion costs during the month totaled: O $54,000 O $133,000 O $59,000 O $87,000 $ 41,000 $ 13,000 $ 46,000 $ 18,000 $ 15,000