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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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7 0
3 years ago
The attitude adopted by Calvin Coolidge that government should play a small role in business affairs is known as what?
nydimaria [60]

Answer:

3) laissez-faire

Explanation:

Laissez-faire is a French expression that means to let us do, or applied to economics, let the economy self regulate itself. It was not a doctrine developed by Adam Smith, but rather by French economists who supported the idea of no government intervention in the economy.

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3 years ago
What is a benefit of obtaining a personal loan?
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A.
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6 0
2 years ago
By shutting​ down, a firm A. stops receiving revenue and is stuck with its fixed costs. B. can avoid paying taxes on its previou
wel

Answer:

option A

Explanation: A firm cannot avoid paying taxes on previous profits as these profits were earned before the shutting down period and generally the taxes on profits for current period  are paid at a later period. Thus option B is incorrect.

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Revenue is the total income that a business gets from its normal operations and variable cost is the cost that changes with the level of output. Thus, there will be no revenue and also variable cost.  Hence option C is incorrect.

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Sunk cost are the costs that cannot be recovered and are already been incurred.So a company can avoid its variable cost by shutting down but not its   sunk cost. Hence option D is incorrect.

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Fixed costs are the costs that are independent of the level of output. Therefore, a company after shutting down will not receive revenue but will have to bear fixed cost. Hence option A is correct.

4 0
3 years ago
Consider the following binomial experiment: a study in a certain community showed that 6% of the people suffer from insomnia. if
Oxana [17]
To determine the standard deviation of the number of people who suffer from insomnia, you need to use the following formula:
= sqr of npq

= √10,200 people in the community x 0.6 people who suffer from insomnia x 0.91 = ?
= √10,200 x 0.6 x 0.91 = <span>√55.143 = 7.43 

= 7.43</span>
6 0
3 years ago
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