Answer:
Explanation:
Opening units 30000
Started 120000
150000
Closing 20000
Transffered 130000
Production Table W.Avg Method
A B C=A+B
Cost Element Complete Closing WIP Equivellant production
units
Material 130,000 20,000 (100%) 150,000
Coversion Cost 130,000 10,000 (50%) 140,000
Answer:
Yes the inspector should be hired
Explanation:
Defective average = 0.03
inspection rate = 30 per hour
Cost of inspector = 8 per hour
Correction cost is $10 each
No inspection = 9/30
= 0.300
Inspector = 8/30
= 2.67
Yes the inspector should be hired
Answer: Sell before assembly, the company will be better off by $1 per unit.
Explanation:
To solve the above question, we need to calculate the incremental profit or loss first. This will be:
= After assembling sales value - Unassembled unit sales value - Coat if further processing
= $87 - $62 - $26
= -$1
Since there is an incremental loss of $1, then the correct answer is "Sell before assembly, the company will be better off by $1 per unit".
Answer:
a. Cash and accounts payable
Explanation:
The journal entry to record this given transaction is shown below:
Equipment A/c Dr $5,000
To Cash A/c $1,000
To Account payable A/c $4,000
(Being the equipment is purchased for cash and on account)
Since the equipment is purchased for $5,000 that increase the asset account and the cash is paid for $1,000 so it would be credited plus the remaining amount is given on credit basis so we credited the account payable account
Answer:
The interest rate is 11%
Explanation:
The loan amount = $50000
Interest amount = $5500
Since the annual interest amount and the principal amount is given so we have to find the interest rate by using the given information. Below is the formula to find the interest rate.
Let the interest rate = x
Principal × interest rate = Interest amount
$50000 × r = $5500
r = $5500 / $50000
r = 0.11 or 11%
The interest rate is 11%
