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muminat
3 years ago
7

Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the

Filling Department of Eve Cosmetics Company are $0.25 and $2.00, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct MaterialsConversionInventory in process, beginning of period0 2,500 Started and completed during the period50,000 50,000 Transferred out of Filling (completed)50,000 52,500 Inventory in process, end of period3,000 1,200 Total units to be assigned costs53,000 53,700 The beginning work in process inventory had a cost of $1,530. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.Completed and transferred-out production$Inventory in process, ending$
Business
1 answer:
Svetradugi [14.3K]3 years ago
7 0

Answer:

Completed and transferred-out production $ 116,500

Inventory in process, ending $3150

Explanation:

Eve Cosmetics Company

Filling Department

Costs per equivalent unit of direct materials  $0.25

Costs per equivalent unit of conversion $ 2.00

                                                                          Equivalent Units

Particulars                                                     Direct Materials     Conversion

Inventory in process, beginning of period     0                2,500

Started and completed during the period   50,000       50,000

Transferred out of Filling (completed)             50,000       52,500

Inventory in process, end of period                 3,000         1,200

Total units to be assigned costs                    53,000         53,700

<em>We multiply the cost per unit to the equivalent units of production both in the completed and ending inventory to get the total costs.</em>

Completed and transferred-out production $ 116,500

Materials = 50,000 units * $ 0.25= $12500

Conversion = 52,000 units * $ 2.0= $104,000

Inventory in process, ending $3150

Materials = 3,000 units * $ 0.25= $ 750

Conversion = 12,00 units * $ 2.0= $2400

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Answer:

The company's degree of operating leverage is closest to $840000

Explanation:

Selling price per unit = Sales revenue / No. of bags sold

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Provide a comprehensive discussion of information asymmetry in financial intermediation.
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2 years ago
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances
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Answer:

                                              30-Nov                 31-Dec

                                       debit      credit        debit      credit

supplies                       $2,000                    $3,500

prepaid Insurance      $8,000                    $6,000

salaries payable                           $11,000                  $16,000

unearned revenue                       $3,000                    $1,500

1. Purchases of supplies in December total $4,500.

Dr Supplies expense 3,000

    Cr Supplies 3,000

beginning balance = $2,000 + $4,500 = $6,500

supplies expense = $6,500 - ending balance

2. No insurance payments are made in December.

Dr Insurance expense 2,000

    Cr Prepaid insurance 2,000

Insurance expense = November 30's balance - December 31's balance

3. $11,000 is paid to employees during December for November salaries.

Dr Salaries expense 16,000

    Cr Salaries payable 16,000

The beginning balance of salaries payable = $11,000, then it was paid (balance = $0), so any ending balance represents wages expense.

4. On November 1, a tenant pays Golden Eagle $4,500 in advance rent for the period November through January.

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unearned revenue balance Nov. 30 = $3,000

unearned revenue balance Dec. 31 = $1,500

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8 0
2 years ago
"A leading environmental group recently published a report contending that humans are running a "resource deficit" because we ar
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Answer:

c. disagree with the report, in part because it ignores the mitigating effects of technological change.

Explanation:

  • As the human is making use of most of the earth available resources they are running towards deficits as no country has self-sufficiency in terms of the land, labor and capital and natural resources and they are getting depleted at a much faster rate than could be generated.
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3 years ago
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Answer:

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