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Rus_ich [418]
3 years ago
5

Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the f

irst processing department consisted of 2,100 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,200 50% Conversion costs $ 3,400 20% A total of 8,500 units were started and 7,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 160,400 Conversion costs $ 122,100 The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. How many units are in ending work in process inventory in the first processing department at the end of the month?
Business
1 answer:
kakasveta [241]3 years ago
8 0

Answer:

2,800 units

Explanation:

The computation of the ending work in progress units is shown below:

= Beginning inventory units + units started - transferred units to the second processing department

= 2,100 units + 8,500 units - 7,800 units

= 2,800 units

All other information which is given in the question is not relevant. Hence, ignored it

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one feature of a corporation is that it can continue indefinitely beyond the lives of individual managers and stockholders of th
Zarrin [17]

Answer:

One feature of a corporation is that it can continue indefinitely beyond the lives of individual managers and stockholders of the corporation.  This is called perpetual life or succession.

Explanation:

Perpetual life or succession of a corporation refers to the continuation of a corporation's or other organization's existence notwithstanding the death, bankruptcy, insanity, change in membership or exit from the business of any owner or member, or any transfer of ownership.  This makes the corporation to be a safer and more stable platform for investors.  The perpetual life of the corporation also raises the chances that the investors will receive returns on their money over an indefinite period of time.

8 0
3 years ago
Vaughn Manufacturing assigned $1606000 of accounts receivable to Cullumber Company as security for a loan of $1342000. Cullumber
liubo4ka [24]

Answer:

Entries during the first month would include the following:

Account Title                                 Debit      Credit

Interest Expenses                      $40,260

(1342000*3%)

       Kwik                                                        $40,260

Cash                                             $459,000

Discount                                       $1,550

       Account Receivable                                $460,550

Sales Return                                 $5,300

         Account Receivable                               $5,300

Allowances for Doubtful Debt     $$11,880

        Account Receivable                                 $$11,880

7 0
3 years ago
Allocation of Package Purchase Price Tamarack Company purchased a plant from one of its suppliers. The $1,000,000 purchase price
Novay_Z [31]

Answer:

The total purchase price of the plant allocated to the land, building, and machinery is $140,840, $509,707 and $355,453 respectively

Explanation:

The computation is shown below:

For land

= Total purchase price × appraisal value of land ÷ total appraisal value

= $1,006,000 × $126,000 ÷ $900,000

= $140,840

For building

= Total purchase price × appraisal value of building ÷ total appraisal value

= $1,006,000 × $456,000 ÷ $900,000

= $509,707

For machinery

= Total purchase price × appraisal value of land ÷ total appraisal value

= $1,006,000 × $318,000 ÷ $900,000

= $355,453

where, the total purchase price is

= $1,000,000 + $6,000

= $1,006,000

3 0
3 years ago
Firms are institutions that organise​ _____ of goods and services.
Zinaida [17]

Answer:

The correct word for the blank space is: the production.

Explanation:

A firm is a business or organization that produces goods or services on a for-profit basis. While the term is typically related to law firms, it applies to an array of entities. For example, a firm can be a corporation which is a legal entity that is separate from its owners and enjoys the right to entering contracts, loan, and borrow money or conduct other business.

3 0
3 years ago
The classical dichotomy is useful for analyzing the economy because in the long run nominal variables are heavily influenced by
Contact [7]

Answer:

The answer is: True

Explanation:

First of all, the classical dichotomy in economics assumes that real variables of the economy such as output of goods and services and real interest rates are not influenced by what happens to their nominal counterparts, such as the monetary value of output and nominal interest rate.  It doesn´t consider inflation or the nominal supply, in other words money supply is neutral in the economy (because its value is adjusted to inflation).

The real problem with this theory, at least in the short run, is that in real life money supply, interest rates and inflation do affect the GDP of a country. When the money supply of an economy is increased then aggregate demand also increases. More money equals more demand. That happens because the prices of goods and services doesn´t adjust as fast as a change in the money supply. Also this theory doesn´t consider the monetary circuit theory about money being "created" by the banking system every time a loan is made.

7 0
3 years ago
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