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Oduvanchick [21]
3 years ago
11

Beginning inventory for the month contained 2,000 units that were 70 percent complete with respect to materials. During the mont

h, 60,000 units were completed and transferred out. Ending inventory contained 3,000 units, 20 percent complete with respect to materials. The weighted average equivalent units of production for materials for the month would be
a. 60,600
b. 60,000
c. 63,000
d. 62,400
Business
1 answer:
pickupchik [31]3 years ago
6 0

Answer:

a. 60,600

Explanation:

Given,

The number of units completed and transferred out = 6000,

Ending inventory = 3,000,

Percentage of completed units with respect to materials = 20%,

So, the additional completed units = 20% of 3000

=\frac{20\times 3000}{100}

=\frac{60000}{100}

= 600

Hence, the weighted average equivalent units of production for materials for the month = 60,000 + 600

= 60, 600

OPTION A would be correct.

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Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 2017, Be-The-One has assets
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b. Stockholders' equity as of December 31, 2018: $197,000

Explanation:

Basing on accounting equation:

Total asset = Liabilities + Owner's (or Stockholders') Equity

Stockholders' Equity  = Total asset - Liabilities

a. On December 31, 2017, Be-The-One has assets of $395,000 and liabilities of $97,000.

Stockholders' equity as of December 31, 2017 = $395,000 - $97,000 = $298,000

b. On December 31, 2018

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Stockholders' equity as of December 31, 2018 = $330,000 - $133,000 = $197,000

6 0
3 years ago
PromptMichael and Johnny are sitting at a bar having a few beers. Michael is a product engineer and Johnny is an electrical engi
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Answer:

No, there was no arrangement of any kind. It was either a common idea or a notion that Johnny shared with Michael.

Explanation:

There are a range of contracts or agreements, depending on the stage of the implementation of the concept of the invention, to safeguard the rights of the various stakeholders to the intellectual property of modern, concrete and original concepts and also to prevent any misuse or misappropriation of the concept, as follows-

  • Non-disclosure policy on confidentiality.
  • Non-compete agreement on the non-appeal of product rights by the recipient or listener of the definition.
  • Function on the contract of hire-employed if there is a co-inventor against any fraud.

And, in that case, there were none of the above agreements.

-In addition, ideas can not be covered solely until they are an Express that is real, original, and feasible. Since copyright protects speech and patents against inventions, the mere concept or idea of a product can not guarantee any legal right to design.

In fact, Mr. Johnny had not previously submitted a provisional patent application to defend his concept. It plays an important role in certain countries, such as the US, where the applicant can protect his idea on a provisional basis for up to one year by enabling his idea to be classified as 'patent pending.'

So, according to the above statements & evidence, Johnny did not have the legal right to the definition, but Michael did.

-Yeah, this is a breach of intellectual property rights. Since the term or idea was not Michael's own, it was taken from Johnny. But Johnny did not have the intellectual property right lodged to sue Michael due to lack of facts, i.e. an agreement signed by Michael against non-disclosure or non-competition.

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3 years ago
Dynatech issues 1,000 shares of $10 par value common stock at $12 per share. When the transaction is recorded, which accounts ar
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Answer:

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The journal entry to record the issuance of common stock is presented below:

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    To Common Stock $10,000        ($1,000-× $10)

    To  Additional Paid-in Capital in excess of par - Common Stock $2,000

(Being the issuance of stock is reported and the remaining balance i.e $2,000 is credited to the additional paid-in capital account)

While issuing the stock, we debited the cash account as there is a cash inflow and credited the common stock and additional paid-in capital account as the share is issued which affect the stockholder equity

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Under the gold standard the fixed price of gold was $20.67 per ounce in the United States. The fixed price of gold was £4.2474 p
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The answer of the question is b
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