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yaroslaw [1]
3 years ago
10

At the beginning of the month, the Forming Department of Martin Manufacturing had 14,000 units in inventory, 40% complete as to

materials, and 20% complete as to conversion. During the month the department started 68,000 units and transferred 70,000 units to the next manufacturing department. At the end of the month, the department had 12,000 units in inventory, 85% complete as to materials and 60% complete as to conversion. If Martin Manufacturing uses the FIFO method of process costing, compute the equivalent units for materials and conversion respectively for the Forming Department.
Business
1 answer:
Nuetrik [128]3 years ago
4 0

Answer:

The equivalent units for <em>materials and conversion</em> are 74,600 and 74,400 respectively for the Forming Department.

Explanation:

Equivalent unit of material

= 14000 x 60% + 56000 x 100% + 12000 x 85%

= 74600

Equivalent unit of conversion

= 14000 x 80% + 56000 x 100% + 12000 x 60%

= 74400

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A company purchases and uses 40000 gallons of materials for which they paid $3 a gallon. The materials price variance was $90000
iogann1982 [59]

Answer:

the standard price per gallon is $5.25

Explanation:

the computation of the standard price per gallon is given below;

Materials Price Variance = Actual Quantity × (Standard Price - Actual Price)

$90,000 = 40,000 × (Standard Price - $3)

$2.25 = Standard Price - $3

Standard Price = $5.25

Hence, the standard price per gallon is $5.25

The same should be considered

4 0
3 years ago
A perfectly inelastic demand implies that buyers would increase their purchases by 10%when the price falls by 10%. purchase the
vichka [17]

Answer:

purchase the same amount as before when the price rises by 10%.

Explanation:

A perfectly inelastic demand curve is basically a straight vertical line. This means that the consumers are willing to purchase the goods or services no matter what their price is. In other words, they will keep buying them at any price, up to infinity and beyond. This is not a real scenario, because no product will be purchased at any price that the seller wants.

6 0
3 years ago
Aluminum maker Alcoa has a beta of about 2.00​, whereas Hormel Foods has a beta of 0.45. If the expected excess return of the ma
drek231 [11]

Answer:

Part A:

Alcoa has higher expected return hence has a higher equity cost of​ capital.

Part B:

Capital cost higher=0.0775=7.75% higher

Explanation:

Part A:

Those stocks whose beta is higher has higher expected return because the risk is higher in these stocks. Since Alcoa has beta value value of 2.00 which is higher than Hormel foods having beta 0.45, it means Alcoa has higher expected return hence has a higher equity cost of​ capital.

Part B:

Difference in beta= Beta of Alcoa-Beta of Hormel

Difference in beta=2-0.45

Difference in beta=1.55

Capital cost higher=Difference in beta*Excess return

Capital cost higher=1.55*5%

Capital cost higher=1.55*0.05

Capital cost higher=0.0775=7.75% higher

7 0
3 years ago
Builtrite’s common stock is currently selling for $48 a share and the firm just paid an annual dividend of $2.80 per share. Mana
Misha Larkins [42]

Answer:

So the cost of new stock will be 14.63 %

Explanation:

We have given dividend for next year = $2.80

Stock price = $48

Flotation rate = 5 %

Growth rate = 8 %

We have to find the cost of new common stock

We know that cost of new common stock is given by

Cost of new stock =\frac{dividend\ for\ next\ year}{stock\ price(1-flotation\ rate)}+growth\ rate

= =\frac{2.8\times (1+0.08)}{48\times (1-0.05)}+0.08=0.1463=14.63%

So the cost of new stock will be 14.63 %

4 0
3 years ago
Bank Reconciliation The accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items wer
Scilla [17]

Answer:

$27,911

Explanation:

Bellows Corp.

Bank reconciliation

As of April 30

Unadjusted book balance    $28,750

Less:

Outstanding checks                  $900

NSF Checks                             $373

Add:

Interest earned                           $74

Error correction                       <u> $360 </u>

Adjusted book balance     <u>$27,911</u>

3 0
3 years ago
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