The Assembly Department of Zoom Auto Parts Began June with 15,000

question 139

Essay

The Assembly Department of Zoom Auto Parts began June with 15,000 partially complete units in beginning work in process inventory. The beginning work in process inventory balance of $71,762 consisted of $31,286 of direct materials and $40,476 of conversion costs. During the month, production that cost $288,000 (direct materials,$115,500, and conversion costs, $172,500) was started on 48,000 units. Zoom completed and transferred to the Testing Department a total of 54,000 units. The ending work in process inventory was 45% complete as to direct materials and 80% complete as to conversion costs. Zoom Auto Parts uses the weighted-average method for process costing.
Required:
A. Compute the equivalent units for direct materials and conversion costs.
B. Compute the cost per equivalent unit.

Recognize the specifics and exceptions related to methods and timing of acceptance under different legal standards.

Distinguish between bilateral and unilateral contracts in terms of offer acceptance requirements.

Identify legal standings on whether silence or actions unrelated to the offer can signify acceptance.

Comprehend the legal power of the original offeree in accepting an offer and creating a contract.

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Definitions:

Allocation

The process of assigning a cost or a group of costs to one or more cost objectives, in reasonable and realistic manner.

Direct Departmental Expense

Costs that are exclusively associated with a specific department and essential for its operation.

Sales Personnel

Employees responsible for selling a company's products or services, often working on commission and interacting directly with clients.

Promotional Items

Products branded with a logo or slogan and distributed at little or no cost to promote a brand, corporate identity, or event.