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anyanavicka [17]
3 years ago
11

Kilbuck Company operates in a lean manufacturing environment. Kilbuck applies conversion costs at a rate of $25 per unit. Kilbuc

k produced 12,000 units during May. Kilbuck's actual conversion costs for the month of May were:
Direct and indirect labor $150,000
Machine depreciation 85,000
Maintenance and supplies 60,000
Total conversion costs $295,000

The journal entry to record applied conversion costs for May will include a:

A. credit to Work in Process Inventory for $300,000.
B. debit to Conversion Costs for $300,000.
C. credit to Raw and In Process Inventory for $295,000.
D. debit to Raw and In Process Inventory for $300,000.
Business
2 answers:
aleksandrvk [35]3 years ago
8 0

Answer:

D. debit to Raw and In Process Inventory for $300,000.

Explanation:

Total applied conversion cost = Conversion cost per unit * Units produced = $25 * $12,000 = $300,000

Therefore, the correct option is D. That is, the journal entry to record applied conversion costs for May will include debit to Raw and In Process Inventory for $300,000.

Elza [17]3 years ago
3 0

Answer:

The journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.

Explanation:

Raw materials of all kinds are measured at the start and recorded into a list plus account, with a credit to the accounts collectible account, and a debit to the raw materials inventory account.

The accounting treatment will vary when raw materials are consumed speculating on their standard as direct or indirect materials.

Thus, the journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.

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The correct option is C.
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No two human resource departments have precisely the same roles and responsibilities. T/F
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Answer:

true

Explanation:

Hey, as much as I remember, this is true. each department has their own responsibilities and roles.

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Which of the following is most likely to be addressed as “Dr.”?
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3 years ago
Your office network has been measured to stay working an average of 2,200 hours with a standard deviation of 285 hours. What is
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We assume here that <em>the probability for an office network to fail</em> follows a <em>normal distribution</em> with a <em>population mean of 2,200 hours</em> and a <em>population standard deviation of 285 hours</em>.

Answer:

The probability that the network will stay up for 2,800 hours before it fails is about 1.743%.

Explanation:

According to the question that the office network "has been measured to stay working an average of 2,200 hours", we can conclude that, for <em>normally distributed data</em>, at this working time, the office network has a probability of failure of 50% and a probability of being working of 50%, too.

As the office network still operates, the probability of failure increases following a normal distribution. So, for 2,800 hours of operation, we need to calculate the probability of failure for this network.

For this, we need to determine the <em>z-score</em> for the raw value of x = 2,800 hours, to later consult a <em>standard cumulative normal table </em>and find the probability associated with this z-score. To calculate it, we can use the z-score formula:

z\;score = \frac{x - \mu}{\sigma}

Where

\\ \mu\;is\;the\;population\;mean

\\ \sigma\;is\;the\;population\;standard\;deviation

And <em>x</em> is the raw score or the 2,800 hours of operation for the office network.

Thus

z = \frac{2800 - 2200}{285}

z = 2.105 \approx 2.11

Having a z = 2.11 (approximately) and consulting a <em>standard cumulative normal table, </em>we have that<em> </em>P(z<2.11) = 0.98257.

In other words, for 2,800 hours of operation for the office network, there is a probability of about 98.257% that this network <em>has failed by this time</em>.

Therefore, the probability that the network will stay up for 2,800 hours is 1 - 0.98257 = 0.01743 or about 1.743% of being working before it fails (or for only about 1.743% of the cases, the office network stays working for 2,800 hours).

The graph below has the shaded area that represents this probability.

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