Purchase Solution

Materials Cost Accounting: Malbim Company

Not what you're looking for?

Ask Custom Question

Process Costing - Weighted Average Method

The Malbim Company uses a process costing system and adds materials at the beginning. July 1st has 400 units in the beginning inventory (100% materials). The units in beginning inventory (July 1) are only 75% complete on conversion costs (labor and OH). During July, 10,000 units were placed in production. 7,400 were completed and transferred out. On July 31, the remaining 3,000 units were 20% complete for conversion costs.
Calculate the equivalent units for materials and conversion costs.

Purchase this Solution
Solution Summary

Your tutorial is attached showing how you treat EU differently under weighted average and FIFO. Basically you separate the beginning from the current period EU when using FIFO.

Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
Recent Feedback
  • "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
  • "Thank, this is more clear to me now."
  • "Awesome job! "
  • "ty"
  • "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

View More Free Quizzes
Related BrainMass Solutions

  • Materials Cost Accounting in Excel

    547045 Materials Cost Accounting Looking for a bit of help with these calculations in an Excel spreadsheet. The Malbim Company uses a process costing system. Materials are added at the beginning of the process.

  • Accounting Costs and Economic Costs

    242126 Accounting Costs and Economic Cost summary Please respond to the following: A company incurs the following monthly costs: Labor $400 Equipment $300 Materials $100 It owns the building (which usually rents for

  • Managerial Accounting: Cost of goods manufactured and sold

    418859 Managerial Accounting: Cost of goods manufactured and sold Using the information in the table below, complete in proper form a schedule of cost of goods manufactured and sold for Pandey Manufacturing Company as of March 31, 2012.

  • Accounting problems

    This shows how to work with data to determine cost of goods manufactured, net profit, and other accounting problems.

  • Accounting Managerial: Cost of Goods Manufactured and Sold

    64825 Accounting Managerial Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold [LO1, LO3, LO4] The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed:

  • Fundamentals of Cost Accounting (XYZ Case Study)

    406881 Fundamentals of Cost Accounting (XYZ Case Study) The XYZ Company uses a standard cost accounting system and estimates production for 2007 to be 60,000 units.

  • Cost of goods manufactured

    evaluate the performance of a company. project materials needs. evaluate the market price of the stock. 2. Management accounting reports might include information about: customer complaints.

  • Schedule of cost of goods manufactured

    The following cost and inventory data for the just completed year are taken from the accounting records of eccfles company: Cost incurred: Advertising Expense:..............................$100,000 Direct labor cost.............................

  • Managerial accounting: 9 multiple choice questions

    How does a manufacturing company report cost of goods manufactured? c. As a component in the calculation of cost of goods sold on the income statement Response discusses the Managerial accounting: 9 multiple choice questions

View More Related Solutions