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yaroslaw [1]
3 years ago
13

Schiller Company has unit costs of $2 for materials and $6 for conversion costs. There are 5,600 units in ending work in process

which are 25% complete as to conversion costs, and fully complete as to materials cost. How much is the total cost assigned to the ending work in process inventory if the FIFO method is used?
Business
1 answer:
bogdanovich [222]3 years ago
7 0

Answer:

$19,600

Explanation:

Using the FIFO method, only 25% of the inventory should be valued at full cost (conversion + materials), while the remaining 75% of the 5,600 units should be valued only at the materials cost, since conversion is still required. The total cost assigned to ending work in process inventory is:

WIP = 5,600*0.25*(\$2+\$6)+5,600*0.75*\$2\\WIP=\$19,600

The total cost is $19,600.

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Suppose the Federal Reserve wants to reduce the money supply by $1 billion. Assume that the required reserves are 10 percent of
galben [10]

Answer:

In order to reduce the money supply by $1 billion, the FED needs to sell $100 million in securities.

Explanation:

The total effect on the money supply is given by: money withdrawn from the economy x money multiplier

money multiplier = 1 / required rate of return = 1 / 10% = 10

effect on the economy = -$100 million x 10 = -$1 billion

6 0
4 years ago
In a sell or process further decision, which of the following costs is relevant?
Alona [7]

Answer: a. Only I

Explanation:

In a sell or process further decision, the only cost that is relevant is the variable production cost that is incurred after split-off.

It should be noted that a split-off is when the parent company of an organization uses specified terms to divests its business unit

6 0
4 years ago
A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is: A. the standard deduction. B. a t
dmitriy555 [2]
The answer is C or D
8 0
3 years ago
Waygate's residential internet modem works well but is sensitive to power-line fluctuations. On average, this product hangs up a
Setler [38]

Answer:

a. In excess of .95

Explanation:

Waygate's residential internet modem works well but is sensitive to power-line fluctuations. On average, this product hangs up and needs resetting every 200 hours. On average about 45 minutes is needed to reset this product. What is this product's availability? In excess of 0.95

MTBF is 200 and MTTR is 0.75. This will leads to an availability of 0.996, so option a is the correct answer

a. In excess of .95

b.In excess of .8 but not in excess of .9

c.Not in excess of .75

d.In excess of .75 but not in excess of .8

e. In excess of .9 but not in excess of .95

7 0
3 years ago
Konan, Inc. needs to determine its inventory value. The following information pertains to the individual products in ending inve
cluponka [151]

Answer:

$2

Explanation:

The computation is shown below:

As we know that

Net realizable value = Selling price − Cost of completion

= $ 60 - $10

= $50

And, the cost of the item M-23 is $52

So, the write down of inventory value of the item M-23 is

= Cost of the item - net realizable value

= $52 - $50

= $2

We simply deduct the cost from the net realizable value so that the write down value could come

3 0
4 years ago
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