Polk Company uses FIFO method in its process costing system. The Finishing Department started the month with 800 units in process that were 30% complete, received 3200 units from the assembly department and transferred 3300 units to the finished good storage area. All the materials are added at the beginning of the process and conversion costs occur evenly. The units in process at the end of the month are 35% complete with respect to conversion costs. The department incurred the following costs:. TRansferred In : Beginning Work in process= $10560 , Added this month: $42240, TOTAL= $52800
Direct Materials: Beginning Work in Process: $1760, Added this month: $7040, TOTAL= $8800
Conversion Costs: Beginning Work in Process: $1450, Added this month: $7271, TOTAL= $8721
TOTALS: WIP TOTAL: (10560+1760+1450=13770) TotaL Added this month: (42240+7040+7271=56551) TOTALS Total= (52800+8800+8721=70321)
1. Hw many units are still in process at the end of the month?
2. Determine the formula, then enter the amounts to calculate units in process at the end of the month.
3. Compute the equivalent units of production for finishing Department for the current month, Generate a Production Cost report.
4. Determine the cost per equivalent unit for the current period for transferred in, direct materials, conversion costs. Generate within Production Cost report
5. Determine the cost to be transferred to finished goods inventory. Production Cost Report- Finishing Department (partial)

Pressure systems, inc., manufactures high-accuracy liquid-level transducers. it is investigating whether it should update certain equipment now or wait to do it later. if the cost now is $200,000, what will the equivalent amount be 3 years from now at an interest rate of 10% per year?

Arriving and delivering a load of company executives for a business meeting at a destination far from home base requiring an overnight stay, a company’s pilot requested approval from the company finance office to pay to either have the company’s jet brought into the fbo's hangar overnight to protect it from a forecast snowfall or to have it de-iced by the fbo the following morning well-before scheduled departure. the company was under considerable financial pressure at the time, and the pilot’s requests were denied because of the cost. so, early the following morning, the pilot was up on the wing of the jet sweeping off an accumulation of snow and ice with a borrowed push broom in preparation for the scheduled departure with the executives, but slipped and fell to the ground, suffering a broken neck. the business was organized as a limited partnership, owned by 3 limited partners and one general partner. as a cost-saving measure, the company had dropped its workers’ compensation insurance before the accident. analyze the potential liability for the pilot’s injuries of each of the following, showing your reasoning clearly: the company the general partner the limited partners analyze how the outcome would have been different, if the business had been organized as a corporation and observed all of the formalities to legitimize its corporate status. analyze how the outcome would have been different, if the pilot had been covered by workers’ compensation insurance.

The beach dude (bd) employs a legion of current and former surfers as salespeople who push its surfing-oriented products to various customers (usually retail outlets). this case describes bd's sales and collection process. each bd salesperson works with a specific group of customers throughout the year. in fact, they often surf with their customers to try out the latest surf gear. the bd salespeople act laid-back, but they work hard for their sales. each sale often involves hours of surfing with their customers while the customers sample all the latest surf wear. because bd makes the best surfing products, the customers look forward to the visits from the bd salespeople. and they often buy a lot of gear. each sale is identified by a unique invoice number and usually involves many different products. customers pay for each sale in full within 30 days, but they can combine payments for multiple sales. bd manages its clothing inventory by item (e.g., xl bd surfer logo t-shirts), identified by product number, but it also classifies the items by clothing line (the lines are differentiated by price points as well as the intended use of the clothing, e.g., surfing products, casual wear, . draw a uml class diagram that describes the beach dudes sales and collection process.b. using microsoft access, implement a relational database from your uml class diagram. identify at least three fields per table.c. describe how you would use the relational database to determine the beach dude’s accounts receivable.