production cycle
Information for the of may concerning dept a, the first stage of the production cycle is as follows: Materials: Conversion Cost: Beginning work in process $7,200.... $6,000 Current Cost. 27,800 16,050 Material Cost $35,000 $22,050 Equivalent Units based on average cost method 10,000 9,800 Goods completed 9,000 units Ending work in process 1,000 Material costs are added at the beginning of the process. The ending work in process is 80% complete as to conversion cost.
How would the total costs accounted for be distributed using the average cost method? Show work
What are the advantages and disadvantages of a stable production policy for a company that has greatly fluctuating sales during the year?
What factors should a service firm consider in deciding whether to use direct labor dollars or direct labor hours in charging overhead to jobs?
When is it necessary to use separate equivalent production figures in computing the units of cost of materials, labor and overhead?
