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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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Baldwin corp. ended the year carrying the most inventory. calculate baldwin corp.'s dollars of additional revenue (in dollars) i
wariber [46]

Based on the value of Baldwin Corp's existing inventory, the dollars of additional revenue that would have been earned is $19,923,000.

<h3>What amount of dollars of additional revenue would Baldwin have earned?</h3>

The dollars of additional revenue that a company would have earned is the value of the existing inventory because inventory is assumed to be sold at cost.

Baldwin's existing inventory was valued at $19,923,000 so the dollars of additional revenue would be the same amount of $19,923,000.

Full question is:

Baldwin corp. ended the year carrying the most inventory of $19,923,000. calculate Baldwin corp.'s dollars of additional revenue (in dollars) if all existing inventory were sold at the current prices.

Find out more on the effects of existing inventory at brainly.com/question/24868116.

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6 0
1 year ago
True or False: A decrease in the general price level resulting from an increase in the cost of production is known as cost-push
seropon [69]

Answer: False. The General price level will only increase. It will not decrease at any cost of having cost pull inflation and the demand full inflation.

Explanation:

For every production of the single unit, the expenses incurred on the wages and the cost incurred on using raw materials  are prominently considered. The rate of demand has an inverse relationship with the increase in the cost of production. Then the price level of the products increases with the effects of Cost-push inflation.

Secondly, The rate of the demand for particular products increases beyond the equilibrium level when the output rate remains below the capacity to meet the requirements of the consumers' demand. In one particular stage, Demand-full inflation takes place which utmost leads to an increase in the price level and acts as a cause for Demand-full inflation.

4 0
3 years ago
Sam’s Auto Shop services and repairs a particular brand of foreign automobile. Sam uses oil filters throughout the year. The sho
Sindrei [870]

Answer:

The EOQ is 353 units

Explanation:

The economic order quantity or EOQ is the quantoty that minimized the holding and ordering cost for invetory.

The formula for EOQ is,

EOQ = √(2*D*O) / H

Where,

  • D is the annual demand in units
  • O is the ordering cost per order
  • H is the holding cost per unit per annum

The annual demand of oil filters by Sam is,

Annual demand = 52 * 150 = 7800 filters

The EOQ for Sam Auto Shop is,

EOQ = √(2*7800*16) / 2

EOQ = 353.27 Units rounded off to 353 units

3 0
3 years ago
On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 28,000 shares of 6%, $50 par, cumulati
Shalnov [3]

Answer:

basic earnings per share = $1.14

diluted earnings per share = $1.02

Explanation:

net income = $178,905

preferred stocks = 28,000 x 6% x $50 = $84,000

January 1, 100,000 shares outstanding x 12/12 = 100,000

February 28, purchased -22,000 treasury stocks x 10/12 = -18,333

September 30, sold 5,800 treasury stocks x 3/12 = 1,450

total weighted average stocks = 83,117

diluted stocks = [($48 - $38) / $48] x 48,000 = 10,000

basic earnings per share = (net income - preferred dividends) / weighted average stocks = ($178,905 - $84,000) / 83,117 stocks = $1.14

diluted earnings per share = (net income - preferred dividends) / (weighted average stocks + diluted stocks) = ($178,905 - $84,000) / (83,117 + 10,000 diluted stocks) = $1.02

3 0
3 years ago
Barcelona demands a certain level of quality and the organization is continuously raising the bar on expectations. Given this fo
zimovet [89]

Barcelona demands a certain level of quality and the organization is continuously raising the bar on expectations. The individual that would be best fit for working at Barcelona is the person with Strong Type B personality

Answer: Option (d) is correct

Explanation:

Type B personality people are fit for working in Barcelona. They are the ones who are stress- free. They have control over their emotions. They are mostly relaxed and not at all aggressive.

They can comfortably express them without any kind of hesitation. They possess patience which is of utmost importance in any field. Their flexible nature enables them to adapt to changes quickly. They are highly motivated but have laid back attitude.

8 0
3 years ago
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