Business, 25.12.2020 17:50 rileychas4114

Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2016 are as follows. Production Data - Basketballs Units Percentage Complete Work in process units, July 1 500 60% Units started into production 1,000 Work in process units, July 31 600 40% Cost Data - Basketballs Work in process, July 1 Materials $750 Conversion Costs 600 $1,350 Direct materials 2,400 Direct labor 1,580 Manufacturing overhead 1,240 Instructions: Calculate the following The equivalent units of production for materials and conversion costs. The units costs of production for materials and conversion costs. The assignment of costs to units transferred out and in process at the end of the accounting period. Prepare a production cost report for the month of July for the basketballs

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 17:30

You want to paint your room yellow, so you get some samples at the paint store. when you hold the sample against your white wall, it looks different from the way it looks against the green curtain. a psychologist would attribute this to perceptual constancy. visual paradoxes. contrast effects. threshold differences.

Answers: 3

Answer

Business, 22.06.2019 05:00

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?

Answers: 2

Answer

Business, 22.06.2019 11:10

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.

Answers: 3

Answer

Business, 22.06.2019 15:20

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u.s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is

Answers: 2

Answer

You know the right answer?

Polk Company manufactures basketballs. Materials are added at the beginning of the production proces...

Questions