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kogti [31]
3 years ago
13

Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 244 million barrels of oi

l in May and shipped 216 million barrels in the pipeline. The costs of the resources used by Graham in May consist of the following: Materials $ 3,245 million Conversion costs (labor and overhead) $ 3,230 million
Required: The production supervisor estimates that the ending work-in-process is 60 percent complete on May 31. Compute the cost of oil shipped in the pipeline and the amount in work-in-process ending inventory as of May 31. (Do not round intermediate calculations. Enter your answers in millions. For example, enter "1" instead of "1,000,000".)
Business
1 answer:
lisov135 [29]3 years ago
4 0

Answer:

Explanation:

Number of completed barrels = 216 + (244-216)*60%

= 233 barrels

Cost per barrel = (3245+3230)/233 = 27.8

Cost of oil shipped in pipeline = 216 * 27.8= 6003 millions

Cost of work in process ending inventory = (244-216)*60% * 27.8

= 467.04 million

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Account A pays simple interest.
maw [93]

Answer:

Explanation:

                          Interest Factors

<u>Periods          6%       7%          8%                  9%            10%             11 %</u>

1                 1.0600      1.0700     1.0800        1.0900     1.1000        1.1100

2                1.1236      1.1449         1.1664         1.1881      1.2100        1.2321

3                1.1910       1.2250      1.2597         1.2950     1.3310         1.3676

4                1.2625      1.3108     1.3605          1.4116       1.4641          1.5181

1)

Future value paying simple interest = Principal + [( principal * interest) * investment period]

Future value paying simple interest = $2,000 + [ ( $2,000 * 9%) * 3]

Future value paying simple interest = $2,000 + 540

Future value paying simple interest = $2,540

2)

Future value paying compound interest = Present value * ( 1 + interest)n

Future value paying compound interest = $2,000 * ( 1 + 0.09)3

Future value paying compound interest = $2,000 * 1.295029

Future value paying compound interest = $2,590.058

3)

Difference = $2,590.058 - 2,540

Difference = $50.058

3 0
3 years ago
The positive relationship between price and quantity supplied, other things being equal, is considered to be:________
Bas_tet [7]

Answer:

The answer is D.

Explanation:

The correct answer is D. universally true for all markets

Other things being equal, as the price of goods and services increase, producers/firms tend to produce more(this is the popular law od supply) inorder to take advantage of the high revenue.

Unlike demand, for supply, price and quantity supplied are directly related.

4 0
2 years ago
Abe and Jan are well to do and are concerned that the estate tax exemption of $10,500,000 (combined) will not be sufficient to a
Alinara [238K]

Answer:

Please see attachment

Explanation:

Please see attachment

7 0
3 years ago
A volume-cycled ventilator is in the control mode and the I/E ratio alarm is sounding. Which control adjustment would correct th
Mkey [24]

Answer:

Option "D" is the correct answer for the following.

Increase the flow rate.

Explanation:

The quantity the ventilator provides differs with adjustments in airway pressure, lung performance and ventilation system integrity.

  • Volume-cycled ventilators: Air passes to the patient until a fixed volume is supplied to the ventilator system, even if the airway pressure is very high.
  • Inspiratory: Expiratory ratio applies to the inspiratory period scale: time of expiry. ... This offers a 1:2 I: E ratio, which reads "one to two."
  • In asymmetric, this ratio is typically changed due to the increased expiration time. They could have a ratio of 1:3 or 1:4 to I: E.

4 0
3 years ago
Match the cost variance component to its definition.
Komok [63]

Answer:

1. D

2. A

3. C

4. B

Explanation:

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.

In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.

In Accounting, costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

The various types of cost variance components and their definition includes the following;

1. Standard price: the expected price

2. Actual quantity: the input used to manufacture the quantity of output

3. Actual price: the amount paid to acquire input

4. Standard quantity: the expected input for the quantity of output

3 0
2 years ago
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