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The standard quantity of material allowed per unit was 5 kg at a standard cost of $2.50 per kilogram. Production records show that there were 470 units in the beginning inventory, 30% complete, 1,570 units started, and 1,430 units transferred out. 123. Orange: Connect - Managerial Accounting Chapter 3 - Blogger The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. . At period end, 16,000 units were in process. Berol Company's production requirement in units of finished product for the three-month period ending September 30, 20X1, is: A. c$40,000 . How many units of material B is Reid planning to purchase during September? 51.During September, 40,000 units were produced. and $12 per hour x 1,400 hours for Client B. cSum of work done during September, all billed to clients. . A company's beginning Work in Process inventory consisted of 40,000 ... Of these units, 24,000 were in process at the beginning of the period. Problem 1. During the year, the company purchased 130,000 yards of material for $429,000 and used 118,000 yards in production. Problem 1 (a): equivalent units in process costing - weighted average vs FIFO: On April 1, 2020, The Proton Company had 40,000 units in its work in process inventory, 100% complete with respect to materials and 20% complete with respect to conversion costs. 0.90 per hour. A product's standard cost card specifies that a unit of the product requires 4 direct labor-hours. Petite, Inc. incurred actual variable overhead expenses of P62,000 in the current year for the production of 10,000 units. . a.95,000. Using Variable Costing to Make Decisions - GitHub Pages $5 C. $3 D. $6 E. $4 SUPPORTING CALCULATION: 60% ($2 + $3) = $3 61 f62 Chapter 6 5. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share. The standard quantity of material allowed per unit was 5 pounds at a standard cost of $2.50 per pound. . Variance Analysis Prelim Exam (2) | Business - Quizizz Rashid . During the month, 21,120 yards of material were purchased at a cost of $70,752, all of which were used during the month.