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gulaghasi [49]
3 years ago
14

Intask Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of

6,000 units that were 75% complete with respect to conversion costs. Ending work in process inventory consisted of 5,000 units that were 60% complete with respect to conversion costs. If 12,000 units were transferred to the next processing department during the period, the equivalent units of production for conversion cost would be:
Business
1 answer:
sukhopar [10]3 years ago
4 0

Answer:

$10,500 units

Explanation:

Calculation of equivalent units of production for conversion cost

First step is to find the Units started and completed during the period using this formula

Units started and completed during the period = Units transferred to the next processing department- Beginning inventory in the mixing department units

Let plug in the formula

Units started and completed during the period = = 12,000 - 6,000

Units started and completed during the period = = 6,000

Second step is to find the Equivalent units of production

Equivalent units of production=6,000 * 25% + 6,000*100% + 5,000*60%

Equivalent units of production=1,500+6,000+3,000

Equivalent units of production=10,500 units

Therefore the equivalent units of production for conversion cost will be $10,500 units

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6 0
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Of fifo or lifo, which method would produce the more favorable cash flow? fifo, because of it produces lower income tax expense
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Julio is in the 32% tax bracket. He acquired 9,000 shares of stock in Gray Corporation seven years ago at a cost of $20 per shar
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example below

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The indirect method for the preparation of the operating activities section of the statement of cash flows: Group of answer choi
weqwewe [10]

Answer:

Reports net income and then adjusts it for items necessary to determine net cash provided or used by operating activities.

Explanation:

FASB is an acronym for Financial Accounting Standards Board. The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors. It was founded in 1972 but began operations fully on the 1st of July, 1973 by replacing the Accounting Principles Board (APB) and American Institute of Certified Public Accountants (AICPA).

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Hence, the indirect method for the preparation of the operating activities section of the statement of cash flows reports net income and then adjusts it for items necessary to determine net cash provided or used by operating activities.

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3 0
3 years ago
Find m2V.<br><br><br> V<br><br><br> W<br><br><br> (2x + 29)<br><br><br> (10x – 27)°<br><br><br> Y
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Answer:

31x

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Explanation:

we should add 2x+29

we should subtract 10x and 27

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