Business Studies, asked by yh65kgs767, 16 days ago

The assembly department uses a process cost accounting system and a weighted average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80,000 of materials costs and $13,000 of conversion costs. What are the equivalent units of production for materials and for conversion costs for the month of July? What is the total cost of the July 31 inventory?

Answers

Answered by Anonymous
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1. Income Method GNPFC = Compensation of employees + Rent + Interest + Undistributed Profits + Dividend + Net

Factor Income from Abroad + Consumption of fixed capital = 1850 + (400 +500 +900 + 200) + (-) 50+ 100 = 3900

CRORE Note: o GNPFC = NNPFC + Consumption of fixed capital o NNPFC = Compensation of employees + Rent +

Interest + Undistributed Profits + Dividend + Net Factor Income from Abroad o Compensation of employees is

income from work which includes wages and salaries in kind and cash, and contribution to social securities

ii. Expenditure Method GNPFC = GNPMP - Net Indirect Taxes Private Final consumption Expenditure + (Net

Domestic capital formation + consumption of fixed capital) + Govt. Final consumption Expenditure + Net Exports +

Net Factor Income from Abroad - Net Indirect Taxes = 1100 +2600 + (500 +100) + (-) 100 + (-)50 – 250 = 3900

CRORE

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