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Advocard [28]
4 years ago
15

The lloyd company uses a process costing system. there were no units in beginning work in process, 1,400 were started and 1,000

units were completed and transferred out. the units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion. the cost of materials added during the current period amounted to $31,944; the cost of conversion added during the current period amounted to $30,016. what are the equivalent units for conversion costs?
Business
1 answer:
ruslelena [56]4 years ago
4 0

The equivalent units for conversion costs are 1,160.

WIP

Beginning 0

Started 1,400

1,000 Completed

Ending 400 * .4 = 160

Equivalent units for materials: 1,000 units completed + 40% of 400 (ending) = 1,160 units

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JoeFit, Inc. is using the basic FOQ model to manage its inventory for K2 microprocessors. The setup cost per order is $200 and t
AnnyKZ [126]

Answer:

51.2 million

Explanation:

The computation of the annual demand is shown below:

As we know that the total annual setup cost and the carrying cost would be equivalent to EOQ

Since the total annual setup cost & carrying cost is $32,000

So, for each it would be $16,000

Now

Total number of orders is

= $16000 ÷ $200

= 80 orders

And, Total inventory carrying cost = 0.05 × (EOQ ÷ 2)

$16000 = 0.05 × EOQ ÷ 2

$32000 ÷ 0.05 = EOQ

EOQ = 640000 units

Now

Total demand = 640000 × 80

= 51200000

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8 0
3 years ago
At Jacobson Company, indirect labor is a variable cost that varies with direct labor-hours. Last month’s performance report show
mezya [45]

Answer:

Flexible budget cost formula for indirect labor is  $0.25 per DL hours

Explanation:

Flexible budget cost for indirect labor = Actual indirect labor cost + Associated spending variance

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Flexible budget cost formula for indirect labor= Flexible budget cost for indirect labor / Direct labor-hours

= $6,025 / 24,100 DL hours

= $0.25 per DL hours

6 0
4 years ago
Blake is seeking to buy a mare that he can breed. Levi tells Blake about a horse that Levi wants to sell, stating that he (Levi)
kondaur [170]

Answer and Explanation:

From the following given case or scenario, we can state that Blake's lawsuit in order to rescind contract, it is more likely that the court might allow this rescission which was based on the mistake of the fact.  Here, in this particular case the fact being that Levi did not provide Blake with the correct facts and thus the transaction was based on wrong fact. Therefore, a rescission is more likely to happen.  

3 0
3 years ago
An annual insurance policy is paid in advance by a company. How will the company treat this initial payment and the subsequent e
jeka57 [31]

Answer:

The question requires the answering party to pick all that apply as found in the attached.

A. The initial payment will be recorded as an increase to a Prepaid Insurance account.

B. Over time, the expired portion of the policy must be removed from the asset account as it has been used up and is no longer considered an asset.

C. As a portion of the policy expires, the expired portion will be removed and transferred to an expense account.

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Subsequently,the expired the portion of the prepayment would be removed from the account,hence point B is also correct.

Finally,when the expired portion is removed from prepaid insurance account,it is transferred to insurance expense account,point C is also on point.

3 0
3 years ago
The two most likely benefits realized from utilizing enterprise systems are improvements in ________. availability of informatio
Mazyrski [523]

Answer: availability of information and increased interaction throughout the organization

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