Business, 19.02.2021 16:40 cxttiemsp021

Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July:

Work-in-process inventory, July 1 (40,000 units):
Direct materials (92% completed) $122,800
Conversion (58% completed) 77,250
Balance in work in process inventory, July 1 $200,050
Units started during July 94,000
Units completed and transferred 109,600
Work-in-process inventory, July 31:
Direct materials (92% completed) 24,400
Conversion (58% completed) Cost incurred during July:
Direct materials $184,000
Conversion costs 292,000

Required:
a. Cost per equivalent unit for materials under the weighted-average method is calculated to be:
b. Cost per equivalent unit for conversion under the FIFO method is calculated to be:

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 21:00

Balance sheet the assets of dallas & associates consist entirely of current assets and net plant and equipment. the firm has total assets of $2 5 million and net plant and equipment equals $2 million. it has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1 5 million. the firm does have accounts payable and accruals on its balance sheet. the firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. a. what is the company's total debt? b. what is the amount of total liabilities and equity that appears on the firm's balance sheet? c. what is the balance of current assets on the firm's balance sheet? d. what is the balance of current liabilities on the firm's balance sheet? e. what is the amount of accounts payable and accruals on its balance sheet? [hint: consider this as a single line item on the firm's balance sheet.] f. what is the firm's net working capital? g. what is the firm's net operating working capital? h. what is the explanation for the difference in your answers to parts f and g?

Answers: 1

Answer

Business, 22.06.2019 15:00

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii

Answers: 2

Answer

Business, 22.06.2019 19:40

Adistinguishing feature of ecological economics is the concept of cost-benefit analysis steady-state economies that, like natural systems, neither grow nor shrink environmental damage and also environmental benefits are external greenwashing to increase public acceptance of products the only healthy economy is one that is growing

Answers: 1

Answer

Business, 22.06.2019 20:00

After testing its water, a city water department issues a report to the related citizens, noting what chemicals have been identified, their doses, and the estimated risks of exposure at these levels. this report represents a type of

Answers: 1

Answer

You know the right answer?

Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method....

Questions