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The following information about Fishplates X has been made available from the accounting records of payment of Precision Tools Ltd. for the last six months of 2019 (and of only sales for January 2020). The company transferred 7,000 finished units and ended the period with 3,500 units that were 40% complete as to both material and conversion costs. Cornerstones of Cost Management 2nd Edition By Don R ... - Test Bank Deed SOLVED:"Alder Inc: produced and sold 2,000 units of one product during ... 328,000 302,000 298,000 272,000 250,000 5. control account. Conversion = (280,000 . a. The 2018 budgeted income statement shows expected net income of $112,000. The total joint production cost for August was $1,800,000. During April an additional 2,400 units were put into production. . Units: units, beginning work in process 40,000 (20% complete for materials, 60% complete for conversion) . 40. During the month, 42,000 units were started and 40,000 units were completed and transferred out of the department. Production of one unit of product R requires three units of material B. . Chapter 1 COST SHEET - OMTEX CLASSES During September, 40,000 units were produced. a.95,000. . The standard cost per unit is Rs. During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $250,000. . During June, 40,000 units were transferred into production from another department. 5,000 c. 1,000 d. 12,000 Question 23 Equivalent units of production are a. complete units that could have been produced given the total amount of manufacturing effort expended for the period under consideration W ork in process, September 30 (80% complete as to conversion) 7,700. . Expected units to be produced: 40,000 units: False Swola Company reports the following annual cost data for its single . and $12 per hour x 1,400 hours for Client B. cSum of work done during September, all billed to clients. A total of 10,000 units were produced during June and the company had 1,000 units in the beginning inventory. 8,000 pounds of material were purchased costing $40,000. to conversion costs. PAGSUBOK NI SISA: Chapter 6 - Blogger However, using absorption costing, the entire $40,000 is expensed because all 10,000 units produced were sold; an additional $4,000 related to the 1,000 units produced last month and pulled from inventory this month is also expensed. Units started during September 28,500.