Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 10.00

Pat Koontz

(Hybrid costing) Pat Koontz makes necklaces from glass beads, metal beads, and natural beads. After reading about hybrid costing, she realized that the different types of necklaces did not cost the same amount of money to make, even though they took the same amount of time and effort to assemble. Koontz developed the following standard costs for each type of necklace:

 

Glass

Metal

Natural

Beads

$24

$15

$ 7

Direct labor (1.5 hours)

15

15

15

Overhead (based on 1.5 hours)

8

8

8

Total

$47

$38

$30

Koontz began 2010 with no beginning WIP Inventory after she experienced an extreme holiday rush. During January, 130 necklaces were started: 70 were glass, 25 were metal, and 35 were natural. At the end of January, 25 necklaces were not yet complete: 5 glass,13 metal, and 7 natural. The stage of completion for each cost component for the 25 unfinished necklaces was as follows:

Material

100% complete

Conversion

60% complete

a. Calculate the cost of necklaces completed during January.

b. Calculate the cost of necklaces in ending WIP Inventory.

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jul 2017 11:07 PM My Price 10.00

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