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k0ka [10]
3 years ago
12

The Finishing Department had 11,500 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to m

aterials and 30% complete as to conversion costs. 34,500 units were received from the previous department. The ending Work-in-Process Inventory consisted of 4,500 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing. What are the equivalent units of production for materials during the period? 34,500 units. 32,250 units. 30,000 units. 27,500 units.
Business
1 answer:
Veseljchak [2.6K]3 years ago
5 0

Answer:

The equivalent units of production for materials during the period is 32,250 units.

Explanation:

Using first-in, first-out

Units  Started and completed  are the units received from the previous department - ending

34,500- 4,500=30,000

Units in production for materials  

Beginning WIP                      0   ( the whole materials were added at the previous period)

Started and completed        30,000

Ending WIP                            2,250 (4,500 x 0,50) (50% complete as to materials)

Total materials  32,250

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let him put it where he won't see them until It is enough for buying his wants

4 0
3 years ago
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Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.00 each. Indicate wh
vodomira [7]

Answer:

1. Price ceiling, Binding

2. Price ceiling, Binding

3. Price floor, binding

Explanation:

Price ceiling is a government or group control limit on how high a product, commodity or service can be charged.

Price floor is a government or group limit on how low a product, commodity or service can be charged.

Binding simply means you are legally bound to something while non-binding means you are not legally bound to it.

8 0
3 years ago
Curt can be paid in one of two ways for the furniture he sells. Plan​ A: Salary of ​$350 per​ month, plus a commission of​ 10% o
Eduardwww [97]

Answer:

for $16000 plan B is better than A

Explanation:

We are searching for the stage where Plan A's compensation is less than Plan B's compensation.

Plan A < Plan B

 

let total of Curt's sales  be the x,

x is the basis of the commission under Plan A, but the first 5000 of sales are excluded i.e  (x - 5000) from the basis of commissions under Plan B.

 

350 + x(0.10) < 750 + (x - 5000)(0.15)

800 -750 < (0.15) x - 5000(0.15) - (0.10)x

50 < (0.15 - 0.10)x - 750

50+750 < (0.05)x

800 < (0.05)x \frac{800}{(0.05)} < x

16000 < x

5 0
3 years ago
ABC, a U.S. company sends by fax an offer to sell to XYZ, a French company, 1,000,000 widgets for $1.00 a widget. XYZ sends back
galben [10]

Answer:

The correct option is B. False.

Further explanation is given below in the explanation section.

Explanation:

Offer From ABC Company to XYZ Company:

1,000,000 widgets to sell.

Selling Price of 1 widget = $1.00

Total Price = $1,000,000

Counter Offer from XYZ company to ABC Company.

Selling Price = $0.75

Total Price = 0.75 x 1,000,000 = $750,000

But in the end, ABC company sold its widgets to GHK company.

The correct option to this question is false.

This case is false because here ABC sends an original offer of $1 but XYZ sent a counter offer of $0.75. This counter offer was then duly rejected by ABC.

XYZ cannot again confirm and accept the original offer of ABC because they have already rejected your claim and thus XYZ have to wait until ABC make them another offer.

5 0
3 years ago
​Sara's Jewelry sold 20 necklaces for $ 35 each to a credit customer. The invoice included a 5​% sales tax and payment terms of
jeka94

Answer:

The journal entry for recording the original sale is shown below:

Explanation:

The journal entry for recording the original sale is as follows:

Accounts receivable A/c................................Dr $735

         Sales Tax A/c...................................................Cr $35

          Sales A/c............................................................Cr $700

As sales is made on credit so the accounts receivable account will be debited against the Sales account, which is credited. And there is sales tax charged on selling necklaces, which is credited to the sales tax account.

Computation of Sales Tax as:

Sales tax = Selling amount × Tax

where

Selling amount = Number of Necklaces × Price

= 20 × $35

= $700

So,

Sales tax = $700 × 5%

Sales tax = $35

8 0
3 years ago
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