Accounting questions

| July 29, 2018

Question 6: ( 2 points)Johnny Ringo Company uses the weighted-average method in its processing costing system. The Assembly Department started the month with 643 units in process that were 53% complete, received 1,250 units the Detail Department, and had 414 units in process at the end of the period. All materials are added at the beginning of the process and conversion costs are incurred uniformly. The units in process at the end of the month are 27% complete with respect to conversion costs. During the month, 1270 units were completed and transferred out. The cost per equivalent unit for direct materials is $3.10. The department incurred the following costs:Begin WIPAddedTotalTransferred IN70012,90013,600Direct Materials8753,2004,075Conversion Costs6505,8206,470Total1,62521,92023,545Of the $4,075 total cost for direct materials, what amount will be transferred out? (Round your answer to the nearest dollar)Question 9 ( 3 points)Stagecoach Company projects the following sales:Projections:OctoberNovemberDecemberCash Sales -10%$2,600$3,300$2,600Sales on Account -90%26,10029,70023,400Total Sales$28,700$33,000$26,000Stagecoach collects sales on account in the month after the sale. The Accounts Receivable balance on October 1 is $18,300 which represents September’s sales on account. Stage coach projects the following cash receipts from customers:Projections:OctoberNovemberDecemberCash receipts from Cash Sales$2,600$3,300$2,600Cash receipts from sales on account18,30026,10029,700Total cash receipts from customers$20,900$29,400$32,300Recalculate sales and cash receipts from customers if total sales remain the same but cash sales are 25% of the total.OctoberNovemberDecemberCash Sales -25%Sales on Account- 75%Total SalesOctoberNovemberDecemberCash receipts from Cash SalesCash receipts from sales on accountTotal cash receipts from customers

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