Answer:
Value of closing inventory = $ 28,125.00
Explanation:
To value inventory, we multiply the cost per equivalent unit of production (cost per EUP) by the the number of equivalent units(EUP) for each of the cost element.
So the value of the closing inventory, is determined as follows:
Value of inventory = cost per E.U.P × number of E.U.P
Material = $2.50 × 4,500 = 11,250.00
Labour and overhead= $3.75 × 4,500 = 16,875.00
Total amount of work in progress
= 11,250 + 16, 875
= $ 28,125.00
Answer:
Depreciation expense Office equipment = 1,200.00
Depreciation expense Computer equipment = 5,000.00
Explanation:
The difference between accumulated depreciation represents the depreciation charge that was made during the first quarter of the 2018 accounting year.
Then depreciation charges for the first quarter are calculated as follows:
Depreciation expense Office equipment = 800 – 400 = 400
Depreciation expense Computer equipment = 2,500 – 1,250 = 1,250
Since there are 4 quarters in an accounting year, the depreciation charge in 2018 is calculated as follows:
Depreciation expense Office equipment = 400 * 4 = 1,200
Depreciation expense Computer equipment = 1,250 * 4 = 5,000
Answer:
$22,897.74
Explanation:
Given:
Loan amount (P) = $22,000
rate (R) = 8% = 8/100=0.08/365 = 0.000219178082
Number of days(n) = 6 month = (6 x 365)/12 = 182.5
Total Amount = ?
Therefore, he have to pay $22,897.74 to the bank.
Answer:
Explanation:
The effect of this policy will lead to both the leftward shift in the labor demand curve and the higher minimum wage will
lead to an increase in the unemployment rate because once the minimum wage increases, firms will have to pay higher salaries and this will lead to higher costs and therefore firms will retrench employees
