The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory Units started in production Units finished during the period -0- 23,000 18,400 Units in process at the end of the period (complete as to materials, * complete as to labor and overhead) 4,600 Cost of materials used $40,000 Labor and overhead costs $41,000 Equivalent units of production for labor and overhead are:

The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory Units started in production Units finished during the period -0- 23,000 18,400 Units in process at the end of the period (complete as to materials, * complete as to labor and overhead) 4,600 Cost of materials used $40,000 Labor and overhead costs $41,000 Equivalent units of production for labor and overhead are:

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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202112.02 03:04 Underslallu T-ALand understand the fIve lu P 32,200 33,050 200 04 Cost Accounting Chapter 7 Accounting for Materials 20 Problem 4 An invoice for X, Y, and Z is received from Heavyweight Co. Invoice totals are: X- P 125,000; Y -P 75,000%; Z - P100,000, The freight charges on this shipment of 18,000 pounds total P7,500. Weights for the respective materials are 10,000, 6,000, and 7,500 pounds. Required: 1. Cost per pound to be entered on the stock cards for each materials, based on Problem 7 The Bedrock Company is a manufacturer of golf clothing. During the monthNhe company cut and assembled 10,000 golf jackets. One hundred of the jackets dic not meet specifications and were considered "seconds." Seconds are sold for P1,00T00 per jacket, whereas first quality jackets sell for P2,500.00. During the month, Wo in Process was charged for P3,600,000 of materials, P4,000,000 of labor, and fary overhead is applied at 120% of direct labor (including allowance of 20% of dilect.…
Refer to the following selected financial information from Texas Electronics. Compute the company's working capital for Year 2. Year 1 $ 33,250 Year 2 $ 38,500 100,000 90,500 65,000 84,500 126,000 130,000 13,100 10,700 393,000 343,000 108,400 112,800 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 716,000 395,000 681,000 380,000
am. 115.
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Testbank Multiple Choice Question 99 A markup of 32% on cost is equivalent to what markup on selling price? O 24.20% O 32.00% O 68.00% O 75.80%
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