Answer:
1. Calculate the first production department's equivalent units of production for materials and conversion for May.
- materials = 275,000 + 50,000 = 325,000
- conversion = 275,000 + 12,500 = 287,500
2. Compute the first production department's cost per equivalent unit for materials and conversion for May.
- materials = $169,000 / 325,000 = $0.52
- conversion = $253,000 / 287,500 = $0.88
3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.
- materials = 50,000 x $0.52 = $26,000
- conversion = 12,500 x $0.88 = $11,000
- total = $37,000
4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.
- materials = 275,000 x $0.52 = $143,000
- conversion = 275,000 x $0.88 = $242,000
- total = $385,000
Explanation:
Beginning WIP 70,000 units
materials $56,100
conversion $16,400
Ending WIP 50,000 units
100% completed for materials (50,000 EU)
25% completed for conversion (12,500 EU)
units started 255,000
total units transferred out 275,000
materials cost added during the period = $112,900
conversion cost added during the period = $236,600
Answer:
$3,000
Explanation:
Calculation to determine How much bad debts expense will Beautiful Lawns report in 2016
Using this formula
Bad debts expense=Estimated doubtful accounts -Allowance for Doubtful Accounts credit balance
Let plug in the formula
Bad debts expense=$3,600-$600
Bad debts expense=$3,000
Therefore The amount of bad debts expense that Beautiful Lawns will report in 2016 is $3,000
Answer:
$110,000
Explanation:
The closing balance in the finished goods inventory account is a function of the opening balance and the net movement that occurred during the year.
As such, the closing balance
= opening balance + purchases/production - sales
Given;
opening balance = $185,000
purchases/production = $550,000
sales = $625,000
Therefore,
closing balance in the finished goods = $185,000 + $550,000 - $625,000
= $110,000
Answer:
A) The price of his shares will rise if NanoSpeck issues additional shares of stock.
C) Expectations of a recession that will reduce economy-wide corporate profits will likely cause the value of Kenji's shares to decline.
Explanation:
if a demand for kanji's is more than its supply, the share prices increase. if the sellers of a particular stock are more than its buyers, the share price decreases. if the company is earning much profit, the share price will rise.
