Maurice Tutor

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

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 6.00

ledger of Hannon Company

*E3-19 The ledger of Hannon Company has the following work in process account.

 

Work  in Process—Painting

3/1

Balance

3,680

3/31

Transferred out

?

3/31

Materials

6,600

3/31

Labor

2,500

3/31

Overhead

1,150

3/31

Balance

?

 

Production records show that there were 800 units in the beginning inventory, 30% com- plete, 1,200 units started, and 1,500 units transferred out. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Han- non uses the FIFO method to compute equivalent units.

Instructions

Answer the following questions.

(a)   How many units are in process at March 31?

(b)   What is the unit materials cost for March?

(c)    What is the unit conversion cost for March?

(d)   What is the total cost of units started in February and completed in March?

(e)    What is the total cost of units started and finished in March?

(f)    What is the cost of the March 31 inventory?

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 02:07 PM My Price 6.00

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