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lesantik [10]
3 years ago
13

weighted average method in its process costing system. Units % complete for Conversion Beginning work in process inventory 5,000

50% Transferred from prior department 76,000 Ending work in process inventory 2,400 70% What were the equivalent units for conversion costs in the department for the month?
Business
1 answer:
shutvik [7]3 years ago
5 0

Answer:

The equivalent units for conversion costs in the department for the month is  80,280 units

Explanation:

The computation of the equivalent units for conversion costs is shown below:

= Units started and completed × percentage of completion + ending work in progress units × percentage of completion

where,

Units started and completed = Beginning work in process inventory units + transferred units - ending work in process inventory units

= 5,000 units + 76,000 units - 2,400 units

= 78,600 units

The other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= 78,600 units × 100 + 2,400 × 70%

= 78,600 units + 1,680 units

= 80,280 units

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Classify the following topics as relating to microeconomics or microeconomics.
NISA [10]

Answer:

Related to Micro Economics : A, B, C, E.

Related to Macro Economics : D.

Explanation:

Micro Economics is the study of a single individual consumer, producer, industry. Eg - Price of a good

Macro Economics is the study of all consumers, producers, industries of the economy at a whole. Eg - General Price level.

Both Micro Economics and Macro Economics deal with aggregates. But:- Micro Economic aggregates have lower level of aggregation & are contextually less related to wide total, than Macro Economics.

<u>Micro Economics </u>: 'A student's decision about how to allocate his time between studying two subjects' ; 'A firm's decision on which production method to use' :- are related to single economic units.

'The effect of rent control on the housing market' ; 'The effect of externality on the quantity produced by the market' :-  are related  to only those particular industry markets & not to economy as a whole.

<u>Macro Economics </u>: 'The effect of an increase in income tax on national income' :- is an impact of country's government policy at its whole national income.

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2 years ago
Guidance and discipline strategies in emergency child care setting should ?
NeTakaya
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4 0
2 years ago
Cyclical unemployment is
Andre45 [30]
Cyclical unemployment is a factor of overall unemployment that relates to the cyclical trends in growth and production that occur within the business cycle.


5 0
3 years ago
The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:Beginn
ANTONII [103]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Beginning Finished Goods Inventory $19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured $126,800

To calculate the cost of goods sold we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 19,500 + 126,800 - 18,000= $128,300

6 0
2 years ago
Timmy Company's comparative balance sheet at January 31, 2017, and 2016. reports the following (in millions):
Irina-Kira [14]

Answer:

The Accounting Equation states that;

Assets = Liabilities + Equity

Equity as at 2016 = Assets - Liabilities

= 50 - 13

= $37 million

Equity as at 2017 = Assets - Liabilities

= 77 - 18

= $59 million

1. Timmy issued $13 million of stock and declared no dividends.

<em>The Net Income ( loss) will be the figure that gives the Statement of Equity a figure of $59 million.</em>

Net Income = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016  - Issuance of stock

= 59 - 37 - 13

= $9 million

Total stockholders' equity, January 31, 2016  ................ 37

Add: Issuance of stock ......................................................... 13

Net income  ......................................................................9

Less: Dividends declared......................................................0

Net loss.......................................................................................0

Total stockholders' equity, January 31, 2017...................59

2. Timmy issued no stock but declared dividends of $17 million.

Net Income (loss) = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016  + Dividends Declared

= 59 - 37 + 17

= $39 million

Total stockholders' equity, January 31, 2016  ................ 37

Add: Issuance of stock ......................................................... 0

Net income  ......................................................................39

Less: Dividends declared......................................................(17)

Net loss.......................................................................................0

Total stockholders' equity, January 31, 2017...................59

3. Timmy issued $20 million of stock and declared dividends of $27 million.

Net Income (loss) = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016  + Dividends Declared -  Issuance of stock

= 59 - 37 + 27 - 20

= $29 million

Total stockholders' equity, January 31, 2016  ................ 37

Add: Issuance of stock ......................................................... 20

Net income  ......................................................................29

Less: Dividends declared......................................................(27)

Net loss.......................................................................................0

Total stockholders' equity, January 31, 2017...................59

7 0
3 years ago
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