Answer:
$21.44
Explanation:
Calculation for the cost per equivalent unit for materials for the month in the first processing department
First step
Units completed and transferred out $7,500
Ending inventory($800+$8,400-$7,500)*70% Ending inventory =1,700*70%
Ending inventory =$1,190
Equivalent units for Materials $8,690
($7,500+$1,190)
Total materials costs $186,300
Second step
Cost per equivalent unit for materials=Total materials costs÷ Equivalent units for Materials
Cost per Equivalent unit for Materials $186,300÷$8,690
Cost per Equivalent unit for Materials=$21.44
Therefore the cost per equivalent unit for materials for the month in the first processing department is closest to $21.44
The fixed factory overhead volume variance is $400 (unfavorable)
solution
Fixed Overhead Volume Variance = Applied Fixed Overhead – Budgeted Fixed Overhead
Applied Fixed Overhead
= 4,000 units ×2.5 hrs per unit×$0.80 = $8000
and
Budgeted Fixed Overhead =10,500 hrs × $0.80 = $8400
![Budgeted Fixed Overhead =10,500 hrs × $0.80 = $8400](https://tex.z-dn.net/?f=Budgeted%20Fixed%20Overhead%20%3D10%2C500%20hrs%20%C3%97%20%240.80%20%3D%20%248400)
Fixed Overhead Volume Variance = $8000- $8400 = $400 (unfavorable)
![Fixed Overhead Volume Variance = 8000- 8400 = 400 (unfavorable)](https://tex.z-dn.net/?f=Fixed%20Overhead%20Volume%20Variance%20%3D%208000-%208400%20%3D%20400%20%28unfavorable%29)
This type of demand is classified as autonomous demand. Autonomous demand does not depend on other products but is due to increase in consumer usage by natural desire. This type of demand is relative to the needs of the consumer.
If the price elasticity of demand for a product is -2.5, then a price cut from $2.00 to $1.80 will <u>increase </u>the quantity demanded by about <u>2.5%</u>.
Price elasticity of call for is a measurement of the trade in the intake of a product on the subject of exchange in its price. Expressed mathematically, it's miles: charge Elasticity of demand = percent trade-in quantity Demanded / percentage trade-in rate.
we are saying a great is price elastic whilst growth in prices causes a bigger % fall in demand. e.g. if fee rises 20% and demand falls 50%, the PED = -2.five. Examples consist of Heinz soup.
Learn more about Price elasticity here: brainly.com/question/24384825
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Answer:
e. Debit Petty Cash $50 Credit Cash $ 50
Explanation:
The entry on October 01 is to reflect the increase in Petty Cash from $ 250 to $ 300. i.e the incremental effect is only $ 50. This is because for the regular replenishment that was done on September 30, the following entry would have been recorded:
Petty Cash - Debit $ 232
Cash - Credit $ 232
The entry for recording the petty cash expenses would be as follows;
Office Supplies expense debit $ 73
Merchandise Inventory debit $ 137
Miscellaneous expenses debit $ 22
Petty Cash credit $ 232