The Equivalent number units of each element of cost shall be determined. Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

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Answer 1

Question

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

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General accounting

Mogul Company ships inventory to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attempt to sell the inventory, and in return, Mogul will pay to Ski Outfit a 15% sales commission on any inventory sold. During the year, Mogul ships inventory with a cost of $92,500 to Ski Outfit. By the end of the year, $70,000 of the inventory has been sold to customers for a total of $98,000. What amount of inventory will Mogul report at year end? Multiple Choice $0 $13,875 $22,500 $5,500

Answer 2

Question

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

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Answer 3

Question

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

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Answer 4

Question

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

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Answer 5

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

Answer 6

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

Answer 7

Chapter 4, Problem 11E

To determine

The Equivalent number units of each element of cost shall be determined.

Requirement 1: Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describes the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units. The reconciliation statement of total cost to account and accounted has to be reconciled.

Answer 8

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

Answer 9

To determine

Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

Answer 10

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

Answer 11

To determine

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

Answer 12

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

Answer 13

To determine

Requirement 4: The Cost of goods completed and transferred out shall be determined.

Answer 14

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

Answer 15

To determine

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 4.A - EXERCISE 4A-1 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-2 Cost per Equivalent Unit-FIFO Method...Ch. 4.A - EXERCISE 4A-3 Assigning Costs to Units-FIFO Method...Ch. 4.A - EXERCISE 4A-4 Cost Reconciliation Report-EIFO...Ch. 4.A - EXERCISE 4A-5 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-6 Equivalent Units of Production-FIFO...Ch. 4.A - EXERCISE 4A-7 Equivalent Units of Production and...Ch. 4.A - EXERCISE 4A-8 Equivalent Units of Production—FIFO...Ch. 4.A - EXERCISE 4A-9 Equivalent Units; Equivalent Units...Ch. 4.A - PROBLEM 4A-10 Equivalent Units of Production;...

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Requirement 2: The Cost per equivalent unit for each element of cost shall be determined.

Requirement 3: The Cost of Ending work in process inventory in respect of material, conversion and in total shall be determined.

Requirement 4: The Cost of goods completed and transferred out shall be determined.

Requirement 5: The reconciliation statement showing the cost to account for and cost accounted for to be reconciled.

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Chapter 4 Solutions