Answer:
a. The equivalent units for materials using the weighted-average method 223432 gallons
b. The equivalent units for conversion costs using the weighted-average method 218714 gallons
Explanation:
The Concept of Equivalent units needs to be first defined.Equivalent Units in process costing is the number of units in terms of completion stage or percentage of a certain input element in the process.
<em>Step 1 Calculate the Units of Closing Work In Process</em>
Hint: Units IN must equal units Out
Units of Closing Work In Process = Units of Opening Work In Process + Units Started during the year - Units of Closing Work In Process
Therefore Units of Closing Work In Process = 43300+235400-211300
= 67400 units
<em>Step 2 Calculate the Equivalent Units of Materials</em>
Closing Work In Process ( 67400×18%) = 12132
Completed and Transferred Out ( 211300×100%) = 211300
Total 223432
<em>Step 3 Calculate the Equivalent Units of conversion costs</em>
Closing Work In Process ( 67400×11%) = 7414
Completed and Transferred Out ( 211300×100%) = 211300
Total 218714
Answer: a) has no intrinsic value
Explanation:
Fiat currency is money that is used in a country and is regulated by the central bank of that country. Fiat money has no commodity backing it such as gold or silver and has no intrinsic value of its own.
It is instead backed by the full faith and credit of the government of the country that produces it. For instance, the US dollar is backed by the full faith and credit of the US government.
This is true you want to minimize risk by marketing
Answer:
The correct option is C states that creditors have a higher position in the priority of claims.
