Answer:
total cost to be accounted = $297000
Explanation:
given data
beginning work in process inventory = $37,000
ending work in process inventory = $43,000
costs added to production = $260,000
cost of units transferred out = $254,000
solution
we get here total cost to be accounted that is express as
total cost to be accounted = ending work in process inventory + cost of units transferred out ......................1
put here value and we will get
total cost to be accounted = $43,000 + $254,000
total cost to be accounted = $297000
Answer
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer: 0 units
Explanation:
Future Planned Production Orders = Expected goods requirement - Finished goods in inventory - Schedule production
= 550 - 450 - 150
= -50 units
Include no units because the finished goods and the scheduled production make up the requirement for the period.
Answer:
$2,500
Explanation:
The calculation of American opportunity tax credit is shown below:-
According to the given situation, Steve's part-time job wouldn't come in between his not applying for the credit as the AGI is lower than the applying number.
Therefore, the credit would be 100% of first is
= $2,000 + 25% (Increased)
= $2,500
Answer:
Both increases
Explanation:
Suppose a person initially produces and sell some amount of milkshakes with the available resources.
But, if he will be able to produce and sell more quantity of milkshakes with the same level of resources then this will indicates that there is a rise in the productivity of this person and if the number of milkshakes sold increases then as a result profits increases at a same price level.
For Example:
Case 1:
Initially,
Person producing and selling = 20 units of milkshakes at a selling price of $10 each and cost of inputs used in the production = $50
Therefore, Profits = Total revenue - Total cost
= (20 units × $10 each) - $50
= $200 - $50
= $150
Case 2:
Now, we assumed that there is an increase in the productivity of this person. Cost of production and selling price of each milkshake remains the same.
Person producing and selling = 40 units of milkshakes at a selling price of $10 each and cost of inputs used in the production = $50
Therefore, Profits = Total revenue - Total cost
= (40 units × $10 each) - $50
= $400 - $50
= $350
Hence, there is an increase in the profits from $150 to $350.
