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Contact [7]
3 years ago
14

Carmelita Inc., has the following information available: COST FROM BEGINNING INVENTORY direct materials $2,500 Conversion cost $

6,200 COST FROM CURRENT PERIOD direct materials $22,252 conversion costs $150,536 At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.) The cost of completing a unit during the current period was:__________
Business
1 answer:
soldier1979 [14.2K]3 years ago
4 0

Answer:

The cost of completing a unit during the current period was?

$35.95 per unit

Explanation:

COST FROM BEGINNING INVENTORY 500 units:

direct materials $2,500, 100% complete

Conversion cost $6,200, 60% complete

COST FROM CURRENT PERIOD 4,500 units started and completed, 340 units left in ending inventory:

  • 30% complete to conversion cost
  • 100% complete to direct materials

current period costs:

  • direct materials $22,252
  • conversion costs $150,536

equivalent units of production:

  • direct materials = 4,500 + 340 = 4,840
  • conversion costs = 4,500 + (500 x 40%) + (340 x 30%) = 4,802

cost per equivalent unit:

  • $22,252 / 4,840 = $4.60 per unit
  • $150,536 / 4,802 = $31.35 per unit
  • total = $4.60 + $31.35 = $35.95 per unit

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Explain why each of the following statements is a rationale for conducting active or passive policy: Economic circumstances can
Vladimir79 [104]

Answer:

The rationale for conducting active policy is the interest of Congress to alter the state of the economy through a deliberate change in established policies.

But in the case of Passive policy, the government permits the status quo.

Active policy relies on the government to enforce it while passive policy does not need the government's interference to work in stabilizing the economy.

Explanation:

The following statements applies passive policy because the economy is expected to stabilize on it's own without the deliberate act of congress influencing it:

  • Economic circumstances can change dramatically between the time that an economic downturn begins and the time when policy actions have an effect on the economy.
  • Fluctuations in economic output have been less severe since World War II.

The following statements is a rationale for conducting active policy since the government's intervention is required:

  • Economists are not very accurate forecasters.
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6 0
3 years ago
Johann, a well-known musician, agrees to give ten guitar lessons to Elton for $2,000. Nothing in the contract itself prohibits a
Softa [21]

Answer:

The correct answer is (b)permitted because the contract is just for music lessons.

Explanation:

Recall that,

Johann,  a well known musician  agrees to give out ten lessons of guitar to Elton for an amount of $ 2000. this contract forbids delegation.

Since Johann delegates his obligation to Eugene who is a second year student in music, then his delegation is only allowed because the contract is to take music lessons and nothing more.

7 0
2 years ago
A manager invests $20,000 in equipment that would help the company reduce it's per unit costs from $15 to $12. He expects the eq
yKpoI14uk [10]

Since the cost of $20,000 has been incurred two years ago, the firm should check and see as to how many units of the product were produced in the two years. Did the firm produce enough items to break even the cost of acquisition. Additionally the business should also check the current market value of this two year old equipment. The business manager should weigh in the savings that is to be obtained from outsourcing along with the resale value of the old machine and then take a declension as to whether the company should go for outsourcing. Also, the business manager must examine whether the outsourcing can happen for the long run. This is because two years down the line, outsourcing may have increased the cost and again another process may look attractive. So a through cost benefit analysis should be made before taking a decision.

6 0
3 years ago
You have an idea for a company that sources fruits from local farms and makes fresh juices on a daily basis. You want to start a
Semmy [17]

Answer:

VRIO = Value Rarity Imitablility Organization.  

Value highlights on the source is valued or not. It reflects that the company is systematized to deed the reserve of competence. Rarity is asked in positions of how infrequent and exclusive the assets are. Imitability means that how problematic is it for participants to duplicate the resource or competence. Organization is asked in positions of how fine the assets are structured to exploit the benefits in the market.  

Therefore, it is focused that the value, rarity and the organization is focused in the question but imitability isn’t focused.  However, some skills or resources are too expensive to be copied by other firms  

5 0
3 years ago
X-treme Vitamin Company is considering two investments, both of which cost $22,000. The cash flows are as follows:
lukranit [14]

Answer:

0.88 years

1 year

Explanation:

Payback period calculates the amount of the time it takes to recover the amount invested in a project from its cumulative cash flows.

For project A:

Amount invested = $-22,000

Amount recovered in year 1 = $-22,000 + $25,000 =$-3000

The amount invested is recovered In 22,000 / $25,000 = 0.88 years

For project B:

Amount invested = $-22,000

Amount recovered in year 1 = $-22,000 + $22,000 = 0

The amount invested is recovered in a year

I hope my answer helps you

8 0
2 years ago
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