OMGT 4323 9 May 11 Assignment

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

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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

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This note was uploaded on 05/16/2011 for the course OMGT 4323 taught by Professor Nethercutt during the Spring '11 term at Arkansas.

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

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