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Ronch [10]
3 years ago
14

Explain the importance of contracts when analyzing revenue arrangements.

Business
1 answer:
Nana76 [90]3 years ago
5 0
<span>Contracts are legally binding documents that have the ability to protect and allow all parties to be clear and precise of actions and expectations within the agreement, including payment arrangements. Contracts are important when analyzing revenue arrangements, as it ensures that all parties are aware of the agreed upon outcome and provide hard evidence should there be any future disputes.</span>
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PA12. <br> LO 5.4Complete this production cost report:
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Using weighted average method

Statement of equivalent units

                                                   Material    Conversion

                                                    Units         Units

Units transferred out                   70,000       70,000

Add: Closing work-in-progress   <u> 25,000 </u>      <u> 6,250</u>

Average divisor                            <u> 95,000 </u>    <u>76,250</u>

                        Computation of cost per unit

                                                              Material   Conversion

                                                                   $               $

Cost of beginning work-in-progress   3,500      16,000

Cost added                                           <u> 25,000 </u>   <u>45,000</u>

Total cost                                               <u> 28,500 </u>   <u>61,000</u>

Material cost per unit = <u>$28,500</u>

                                         95,000 units

                                    = $0.30 per unit

Conversion cost per unit = <u>$61,000</u>

                                            76,250 units    

                                          = $0.80 per unit

 Value of units transferred out

  Material = 70,000 x $0.30  = $21,000

  Conversion = 70,000 x $0.80 = $56,000

  Value of closing work-in-progress

  Material = 25,000 x $0.30 = $7,500

  Conversion = 6,250 x $0.80 = $5,000

Explanation:

In this case, we will obtain the average divisor by adding the ending work-in-progress to the units transferred out. Then, we will determine the total cost of material and conversion ,which is the aggregate of cost of opening work-in -progress and cost added during the year. We also need to obtain the unit cost of material and conversion, which is total cost of material and conversion divided by the average divisor.  

Finally, we will value the units transferred out and ending work-in-progress at unit cost of material and conversion.                                                                                                                                                                              

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Suppose you would like to make a global change to the font type and font color for all slides with the comparison layout. Which
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Answer:

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2 years ago
1. After multiple rounds of layoffs, a plastics processing plant goes into bankruptcy because it has failed to keep up with tech
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Explanation:

Dissolution is the final phase of liquidation, the closure of a company, and the transfer of the property and assets of the company. Relationship breakup is the first of two phases of relationship termination.

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Explanation:

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Al contracted to sell his house to bev. subsequently, they both changed their minds and agreed to cancel the contract. the contr
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Given that <span>Al contracted to sell his house to bev. subsequently, they both changed their minds and agreed to cancel the contract.

The contract between al and bev is discharged by rescission.</span>
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