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Wewaii [24]
2 years ago
6

If materials were added at the beginning of the process, how many equivalent units of production for conversion costs would ther

e be for Wonder Paints using the weighted average costing method?
Business
1 answer:
Xelga [282]2 years ago
4 0

Answer:

C.105,500 units

Explanation:

Equivalent unit of production is the quantity of work done in the manufacturing / production department. It also includes the completed percentage portion of the units in work in process.

Units complete and transferred = Beginning units + Additions - uncompleted units = 10,000 units + 100,0000 units - 15,000 units = 95,000 units

Equivalent Units = Units complete and transferred + ( Closing units x percentage completion )

Equivalent Units = 95,000 + ( 15,000 x 70% )

Equivalent Units = 95,000 + 10,500

Equivalent Units = 105,500

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Answer:

The Company paid usd 2  per share.

Explanation:

Initial Retained Earnings: $ 780 mill.

Current Net Income :       $ 50  mill.

=================================

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Actual Retained Earnings  :  $ 810 mill.

The difference of $ 20 mill. was the dividends paid to shareholders, if were 10 million of share outstanding, it means usd 2/Share.

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The matching principle
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Answer: The matching principle <u>"d. states that the revenues and related expenses should be reported in the same period".</u>

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6 0
3 years ago
The decision situations wherein the decision-maker chooses to consider several possible outcomes and the probabilities of their
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Answer: The correct answer is "a. decisions under risk.".

Explanation: The decision situations wherein the decision-maker chooses to consider several possible outcomes and the probabilities of their occurrence can be stated are called <u>decisions under risk.</u>

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Suppose the total number of minutes provided exceeds the total number of minutes estimated and that the total dollar cost of the
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Answer:

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3 years ago
Flounder Corp. uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cos
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Answer:

Flounder Corp.

                                   Weighted Average      FIFO             LIFO

Ending Inventory              $1,414                   $1,580           $1,280

Cost of goods sold          $2,796                 $2,630          $2,930

Explanation:

a) Data and Calculations:

Date        Explanation      Units     Unit Cost     Total Cost

June 1     Inventory            100          $5               $ 500

June 12   Purchases         385            6                 2,310    

June 23  Purchases        200             7                 1,400

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June 30  Inventory          230

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Weighted Average Cost = Total costs/Total units bought

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Weighted Average:

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Ending Inventory  = (30 * $6) + (200 * $7) = $1,580

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LIFO:

Ending Inventory = (100 * $5) + (130 * $6) = $1,280

Cost of goods sold = (200 * $7) + (255 * $6) = $2,930

The weighted average method is based on an average cost for estimating the cost of ending inventory and cost of goods sold.  The FIFO method assumes that goods bought initially are the first to be sold while the LIFO method assumes that goods bought last are the first to be sold.

6 0
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