Answer:
Total equivalent units= 17,250 units
Explanation:
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required to a complete a set of work is done in the period under consideration.So there is no separation of the completed units into opening inventory and fully worked. </em>
Equivalent units = Degree of completion× units of inventory
Item units Equivalent unit
Completed 15,000 100%× 15,000 = 15,000
Closing inventory 3,000 75%× 3,000 = <u>2,250
</u>
Total equivalent units <u> 17,250</u>
Total equivalent units= 17,250 units
Answer:
Correct answer is B, Debit cash $38,800, debit factoring fee expense $1,200 and a credit of Accounts receivable of $40,000
Explanation:
Factoring is one way to raise fund for immediate use of the company. It is a way to sell accounts receivable of the company. The above-mentioned problem is to sell accounts receivable (factored) with the corresponding factoring fee of 3% and that is $1,200 (40,000 x 3%). In effect of this fee, the company will receive cash less than the amount of its accounts receivable sold. The company will record the inflow of cash at $38,800 (40,000 - 3%) and will also recognize an expense incurred during the factoring in the amount of $1,200 and finally will credit the sold accounts receivable in the amount of $40,000.
Answer:
$11,160.097
Explanation:
Data provided in the question:
Future value of machine = $44,309.00
Time, n = 16 years
Discount rate, r = 9.00% = 0.09
Now,
The amount Derek is will to pay will be the present value of the machine
Also,
we know
Future value = Present value × (1 + r)ⁿ
on substituting the respective values, we get
$44,309.00 = Present value × (1 + 0.09 )¹⁶
or
$44,309.00 = Present value × 3.97
or
Present value = $44,309.00 ÷ 3.97
or
Present value = $11,160.097
Answer:
the monthly payment column represents the principal and interest payment for each $1,000 you borrow. For example, if you borrow $100,000 for 30 years at 4.25%, your monthly payment per $1,000 borrowed would be $4.92. Multiply that factor (4.92) by 100 (100,000/1,000) to estimate your monthly payment of $492.00.
Answer:
Instructios are listed below
Explanation:
Giving the following information:
Assume Pinkie started the year with 100 containers of ink (average cost of $ 9.10 each, FIFO cost of $ 8.60 each, LIFO cost of $ 8.00 each).
During the year, the company purchased 800 containers of ink at $10.00 and sold 600 units for $21.75 each. Pinkie paid operating expenses throughout the year, a total of $ 5,000.
FIFO:
Sales= 600*21.75= 13,050
COGS= (100*8.60 + 500*10)= 5860
Gross profit= 7190
Operating expense= 5000
Net operating profit= $2,190
LIFO:
Sales= 13,050
COGS= (600*10)= 6000
Gross profit= 7,050
Operating expense= 5000
Net operating profit= $2,050
Average-cost
Sales= 13,050
COGS= [(9.10+10)/2]*600= 5730
Gross profit= 7,320
Operating expense= 5000
Net operating profit= $2,320
