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inessss [21]
3 years ago
14

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the

first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:
Cost Percent
Complete
Materials costs $ 5,800 65%
Conversion costs $ 6,900 45%
A total of 6,700 units were started and 6,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Cost
Materials costs $ 125,600
Conversion costs $ 207,100
The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.

The cost per equivalent unit for materials for the month in the first processing department is closest to____________.


A. $18.42
B. $19.02
C. $19.91
D. $17.60
Business
1 answer:
ICE Princess25 [194]3 years ago
6 0

Answer:

The cost per equivalent unit for materials for the month in the first processing department is closest to C. $19.91

Explanation:

The Concept of Equivalent units expresses the number of units of outputs in terms of the completion status of the input resources in the process.

<em>Step 1 Calculate the Number of Units of Ending Work In Process</em>

Hint : Units in the Process must equal units out of the process

Units of Ending Work In Process = Units of Beginning Work In Process + Units Started during the Period - Units Completed and Transferred Out of the process

                                                        = 500+6700-6000

                                                        = 1,200

<em>Step 2 Calculate the total material cost for the processing department</em>

<em>total material cost :</em>

Opening Work In Process             $ 5,800

<em>Add</em> Incurred During the Period  $125,600

Total material cost                         $131,400

<em>Step 3 Calculate total Equivalent Units in respect of Material Cost</em>

Completed and Transferred Out ( 6,000 × 100%)  6,000

Ending Work In Process ( 1,200 × 50 %)                     600

Total Equivalent Units                                               6,600

<em>Step 4 Calculate the cost per equivalent unit for materials</em>

cost per equivalent unit = total material cost/ total Equivalent Units

<em>                                          =  </em>$131,400 / 6,600

                                         =  $ 19.91

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Answer:

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Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

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I hope my answer helps you

3 0
3 years ago
Sherman Peabody earns a monthly salary of ​$1,500​, which he receives at the beginning of each month. He spends the entire a
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Answer:

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6 0
1 year ago
Read 2 more answers
Mike has one hour to spend at the gym where he will jog, play handball and cycle. jogging uses 10 calories per minute, handball
slega [8]
Let
x = minutes used for jogging
y = minutes used for handball
z = minutes used for cycling

Th total time spent is 1 hour (60 minutes), therefore
x + y + z = 60

Because Mike jogs as long as he cycles, therefore
x = z
Therefore
2x + y = 60
or
y = 60 - 2x                 (1)

Jogging consumes 10 calories/min, handball consumes 9 calories/min and cycling consumes 12 calories/min.
The calories consumed in 60 minutes is 580, therefore
10 x + 9y + 12z = 580
Because x = z,
22x + 9y = 580          (2)

Substitute (1) into (2).
22x + 9(60 - 2x) = 580
22x + 540 - 18x = 580
4x = 40
x = 10
y = 60 - 2x = 40
z = x = 10

Answer:
10 minutes of jogging
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4 0
3 years ago
Air France collected cash on February 4 from the sale of a ticket to a customer on January 26. The flight took place on April 5.
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Answer:

Air France should have recognized the Revenue in month of  APRIL.

Explanation:

According to the revenue recognition concept the revenue should be recognized when it is realizable. When goods or services are tranferred or rendered to the customer. It doesn't matter matter when the payment is received. Payment received in advance should be recorded as unearned revenue rather as revenue. On the other hand payment doesn't received until the transfer of goods or services, a receivable will be made in result of revenue recognition entry. Air France should recognize the revenue on April 5, when the flight took placed and services are performed. Sale of ticked on January 26 will be recorded as unearned revenue and a receivable on the other hand. The receivable will be adjusted on February 4 when cash is received and the revenue will be recognized on April 5 when flight took place.

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