four categories of measurement (mass‚ length‚ volume‚ and width). II. Materials • toy dinosaurs • water • graduated cylinder • scale • ruler with metric measurements • calculator • container to hold dinosaurs soaked in water III. Procedure 1. Before soaking the dinosaurs in water‚ we took measurements of these dinosaur’s mass‚ length‚ volume‚ and density. 2. After taking the measurements‚ we let the dinosaurs
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Costing Job-order Costing Mass production of identical or similar products (at process-level). For example‚ Sugar‚ food‚ chemical industry. Many units of a single‚ homogeneous product flow evenly through continuous production process(s). One unit of product is indistinguishable (at process-level) from any other unit of product. Each unit average cost. of product is assigned the same SOME EXAMPLES OF BUSINESSES USING PROCESS COSTING Process Costing Extraction In a process cost system
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Equivalent units‚ zero beginning inventory. 1. Direct materials cost per unit ($750‚000 ÷ 10‚000) $ 75.00 Conversion cost per unit ($798‚000 ÷ 10‚000) 79.80 Assembly Department cost per unit $154.80 2a. Solution Exhibit 17-16A calculates the equivalent units of direct materials and conversion costs in the Assembly Department of Nihon‚ Inc. in February 2009. Solution Exhibit 17-16B computes equivalent unit costs. 2b. Direct materials cost per unit $ 75 Conversion cost per unit 84
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in physical units‚ describe a grinding process for January : WIP‚ beginning 19‚000 Started during current period 150‚000 To account for 169‚000 Spoiled units 12‚000 Good units completed and transferred out 132‚000 WIP‚ending 25‚000 Accounted for 169‚000 Inspection occurs at the 100% completion stage. Normal spoilage is 5 % of the good units passing inspection. 1. Compute the normal and abnormal spoilage in units. 2. Assume that the equivalent-unit cost of a spoiled
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Unitron Corporation The RSV method has a number of twists that can result in many different unit costs for the five Question 1 products. For inventory costing purposes‚ any The idea here is to construct a "Produced systematic cost allocation system will do. The basic As/Sold As Matrix" (400‚000 x 400‚000). Obviously‚ idea of the relative sales value scheme is that all sales the possible combinations are endless‚ so how does one should show gross margin percent equal to the average choose
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following costs per unit. Direct materials $ 60 Direct manufacturing labor 20 Allocated manufacturing overhead 80 $160 Final inspection of Job 911 disclosed 100 defective units and 50 spoiled units. The defective instruments were reworked at a total cost of $12‚000‚ and the spoiled instruments were sold to a jobber for $3‚000. If the costs associated with spoilage and reworked units are considered as normal to manufacturing operations‚ the unit cost of the good units produced on Job
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costs using process costing. The following information is provided under the Mixing department for the month of August: Whole Units Work in Process‚ August 1 40‚000 gallons Units Started and Completed this Period 60‚000 gallons Units Completed and transferred out during August 100‚000 gallons Work in Process‚ August 31
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Purpose: To practice direct and indirect measurement Introduction: Do you think you could measure the average thickness of a sample of M&Ms without directly measuring selected M&Ms? The answer is "yes‚" and in this activity you will make direct and indirect measurements of the thickness of M&Ms. You will compare the results and evaluate the reliability of each method of measurement. Be sure to view the tutorial on the proper use of the vernier caliper. Please re-visit the information on when
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company’s accounting records: • There were no units in the work in process inventory and 150‚000 units in the finished goods inventory at the beginning of the month. • The company sold 500‚000 units during the month. • There were 32‚000 units‚ which were 75% complete as to conversion costs‚ in the work in process inventory and 120‚000 units in the finished goods inventory at the end of the month. Part (a) How many units were transferred from the Packaging Department to the
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quality and intolerance for high spoilage have lowered overall costs and increased sales. 18-2 Spoilage—units of production that do not meet the standards required by customers for good units and that are discarded or sold at reduced prices. Rework—units of production that do not meet the specifications required by customers but which are subsequently repaired and sold as good finished units. Scrap—residual material that results from manufacturing a product. It has low total sales value compared
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