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4 years ago

Process Costing using the Weighted-Average Method

Business

1 answer:

Finger [1]4 years ago

6 0

Answer:

First we find the equivalent units. Then Cost Per Equivalent Units. We apply these costs to the units to find the total cost. Then we compare the given costs with the found costs to see the difference.

Explanation:

Equivalent Units

Particulars Units % of Completion Equivalent Units

Materials Conversion Materials Conversion

Units transfered 6050 100 1000 6050 6050

Ending WIP 450 40 30 180 135

Equivalent Units 6230 6185

Units Completed And Transferred

Particulars Units

Beginning WIP 300

Units started in production 6200

Total Units Available 6500

Less Ending WIP 450

Units Completed and Transferred 6050

Cost Per Equivalent Unit

Particulars Materials Conversion

Beginning WIP $10,500 $6,750

Costs added 332,150 407,645

Total Costs 342,650 414,395

Equivalent Units 6230 6185

Cost Per Equivalent Unit 342,650 / 6230 414,395/ 6185

=$ 55 =$ 67

Costs Assigned

Ending WIP $ 18945

Materials ( 180 * 55) = $ 9900

Conversion ( 135 * 67) = $ 9045

Units Completed And Transferred Out : $ 738100

Materials ( 6050 *55) = $ 332750

Conversion ( 6050 * 67) = $ 405350

Cost Reconciliation

Cost to be accounted for

Beginning WIP ( $10,500 + $6,750 )= $ 17250

Cost added ( 332,150+ 407,645)= $ 739795

Total Costs $ 757045

Ending WIP $ 18945

Units Completed And Transferred Out : $ 738100

Total Costs $ 757045

Which is the same.

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Why are multinational corporations (MNCs) getting involved in corporate social responsibility and sustainable business practice

Oduvanchick [21]

Answer:

Some are genuinely giving back to the community:

Some MNCs are engaged in Corporate Social Responsibility (CSR) and Sustainable business practices because they genuinely care about the communities they have a presence in and the earth as well. With this is mind, they find out ways to give back to the community to ensure that people's lives are touched and improved so that the wider community benefits from the success of the MNC.

Brand Strengthening and Recognition.

Sometimes MNCs get involved in CSR to build their brand because people would associate their brand with the good works they do. This would go a long way in improving their sales figures as well because people want to support a company that supports its communities.

Tax Considerations.

Various tax credits exist for MNCs across many countries and tax regimes to reward them for their CSR activities. MNCs therefore see this as a chance to kill two birds with one stone as they get to use money that would have gone to taxes to improve their PR standing.

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3 years ago

What are the factors of production

tamaranim1 [39]

Factors of production are the resources people use to produce goods and services;

They are four categories: land, labor, capital, and entrepreneurship.

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3 years ago

The bank statement reported an ending balance of $43,860 after deducting $660 in service charges and an addition of $13,500 for

Jet001 [13]

Answer:

Question 1

B. $41,910

Question 2

C. Debit to interest receivable for $90

Explanation:

Question 1

Calculation for the adjusted cash balance

Using this formula

Adjusted cash balance = Cash balance per books +Deposits in transit - Outstanding checks

Let plug in the formula

Adjusted cash balance= $43,860+$16,800-$18,750

Adjusted cash balance= $41,910

Therefore Adjusted cash balance is $41,910

Question 2

Based on the information given The Appropriate journal entry to record accrued interest at the end of its fiscal year on December 31, 2019 will include a:

Debit to interest receivable for $90 which is calculated as:

Interest receivable=[(6%*$18,000*90days/360)/3]

Interest receivable=$270/3

Interest receivable=$90

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3 years ago

The Closed Fund is a closed-end investment company with a portfolio currently worth $200 million. It has liabilities of $3 milli

iragen [17]

Answer:

$39.40

Explanation:

According to the situation, the solution is as follows

The Net asset value of the fund is

= (Current worth of portfolio - liabilities) ÷ (outstanding shares)

= ($200 million - $3 million) ÷ (5 million shares)

= $39.40

Basically we applied the above formula in order to determine the net asset value of the fund.

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3 years ago

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kap26 [50]

Answer:

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<h3>Claiming the Federal Adoption Tax Credit for 2022</h3>

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To know more about 'Adoption tax credit', visit :brainly.com/question/15410304

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2 years ago