Business, 25.11.2021 09:30 hunteryolanda82

Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows. Work in Process, May 1 (54,000 units, 100% complete for direct materials, 70% complete with respect to conversion costs; includes $70,900 of direct material cost; $34,220 of conversion costs). Units started in May 120,000 Units completed in May 138,000 Work in Process, May 31 (36,000 units, 100% complete for direct materials; 60% complete for conversion costs). Costs incurred in May Direct materials $ 342,400 Conversion costs $ 353,350 If Pitt Enterprises uses the FIFO method of process costing, compute the equivalent units for direct materials and conversion respectively for May.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 11:00, nicko10

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?

Answers: 1

continue

Business, 22.06.2019 14:30, mathhelppls14

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Answers: 1

continue

Business, 22.06.2019 20:10, cyndy50

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.

Answers: 2

continue

Business, 22.06.2019 21:10, dooboose15

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Answers: 3

continue

You know the right answer?

Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufactur...