Business, 06.04.2021 04:10 ruchierosanp1n3qw

g Pix Company has the following production data for March: no beginning work in process, units started and completed 29,000, and ending work in process 3,300 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $10. The total costs to be assigned are $529,300, prepare the cost section of the production cost report for Pix Company using the FIFO approach.

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Answer from: KallMeh

Pix Company

Production cost report - extract

Outputs

Units Costs

Costs assigned to completed units 29,000 $493,000

Units Still in Process 3,330 $36,630

Total 32,330 $529,630

Explanation:

Step 1 : Equivalent Units of Production

Materials

To Finish Work in Process 0

Started and Completed (29,000 x 100%) 29,000

Ending Work in Process (3,330 x 100%) 3,330

Equivalent units of Production in Materials 32,330

Conversion Costs

To Finish Work in Process 0

Started and Completed (29,000 x 100%) 29,000

Ending Work in Process (3,330 x 100%) 1,332

Equivalent units of Production in Materials 30,332

Step 2 : Costs assigned to completed units and units still in process

Costs assigned to completed units = Units Completed x total units cost

= 29,000 x $17

= $493,000

Units Still in Process = Materials Cost + Conversion Costs

= 3,330 x $7 + 1,332 x $10

= $36,630

Answer from: Quest

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

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