Please solve required 1. Need help with units reconciliation section, and all required are based in Firm C.
For required 2, the options are above, indicating poor cost control, or below, indicating good cost control.
For required 3, the options are overstatement of cost of goods sold and an understatement of income, or understatement of cost of goods sold and an overstatement of income. Please solve this!!
Firm Firm A Firm B Firm C Firm D Firm E Firm Firm G Firm Firm H Firm I 66000 Work in Process Inventory (In Units 96000 Units started this period
Units completed and transferred 200,000 400,000 600,000
Ending inventory
800,000 1,200,000 280,000 Work in Process Inventory Percent Complete Beginning Ending 80% 60% 60% 70% 30% 40% 40% 20% 44 Direct Materials Conversion Direct Materials Conversion Work in Process Inventory Costs Beginning Inventory Costs Inventory Costs Added During Month 546000 Conversion 3444000 199500 Conversion Direct Material Direct Materials 2534000
Required 1
Required 2
Required 3
For Firm C, assume the mixing department budgeted conversion costs of $2.80 per equivalent actual conversion costs per equivalent unit above or below budgeted amounts? Important! Be sure to click the correct Firm at the top of the dashboard. Question Were the mixing department's actual conversion costs per equivalent unit above or below budgeted amounts Required 1 Required 3
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Required 1
Required 2 Required 3
Units of Production (EUP)
Direct Materials Conversion Units % Complete EUP % Complete EUP 882,000 100% 882,000 100% 882,000 280,000 60% 168,000 40% 112,000 1,162,000 1,050,000 994,000 Direct Materials Conversion S 546,000 S 199,500 3,444,000 2,534,000 Costs 3,990,000 Costs 2,733,500 EUP 1,050,000 EUP 994,000 "S 3.80 2.75
And transferred out in process its of production
Beginning work in process this period
Units of production Equivalent unit of production
And transferred out materials
EUP Cost per EUP Total cost 882,000 S 3.80 $3,351,600.00 882,000 2.75 2,425,500.00 $5,777,100.00 EUP Cost per EUP Total cost 168,000 3.80 638,400.00 112,000 2.75 308,000.00 946,400.00 6,723,500.00
K in process materials