OMGT 4323 9 May 11 Assignment

OMGT 4323 9 May 11 Assignment - Assignment 6 Due Date: May...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Assignment 6 Due Date: May 9, 2011 11:59:00 PM CDT; 14-31; 15-B1; 16-A1 14-31 (p654) Basic Process Costing Units started and completed in Apr – 650,000 Units in “work in process” on 30 Apr – 220,000 (each of these 60% converted) Direct materials for Apr – $3,741,000 Conversion costs – $860,200 1. Compute total work done (in equivalent units and unit cost) Equivalent units = 650,000+132,000=782,000 units Unit cost = all finished and converted WIP = (782,000/870,000)*$3,741,000 = $3,362,600 2. Compute cost of units completed and transferred. = (650,000/870,000)* $3,741,000 = $2,795,000 2. Compute cost of units in ending work in progress = $3,741,000-$3,362,600 = $378,400 15-B1 (p696) Balance sheet equation – solve for the missing computations A Liabilities, beginning of period =$1,228,400,000 Liabilities Begin = Assets Begin – Paid-in-Capital Begin – Retained Earnings Begin B Cost and expenses =$1,682,000,000 Costs and Expenses = Revenues + Loss C Retained earnings, end of period
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

OMGT 4323 9 May 11 Assignment - Assignment 6 Due Date: May...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online