Answer: <em>Oligopolistic Competition</em>
Explanation:
Here, in this particular case we can state that the competition that persists in this scenario is <em>Oligopolistic Competition. </em>It is referred to as the situation in a market under which there tend to be only few sellers that further sell a differentiated product, here the seller tends to have higher percentage of market control and thus they further cannot allow themselves to disregard the conduct of other sellers.
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 8,760 units.
Explanation:
a) Data and Calculations:
Units Conversion
Ending inventory 1,560
Units completed 8,370
Units available 9,930
Beginning inventory 1,470 35%
Additional units started 8,460
Equivalent units of production:
Units completed 8,370 8,370 (100%)
Ending inventory 1,560 390 (25%)
Equivalent units of production 8,760
Answer:
D. Worksheet is a tool used in preparing adjusting entries and the financial statements, and the use of worksheet is optional
Explanation:
The correct option D because worksheet is used to adjust value and prepare the financial statements and it is not mandatory to use.
The post-closing trial balance might show that accounting equation is balanced but not every time. It only ensure the total of debits balances and total of credits balances are equal. All transaction might not correctly journalized.
The accounting cycle starts with analyzing the business transactions and ends with the preparation of a Financial Statements.
Property, Plant and Equipment are our physical, tangible and long term assets which include all land, office, building, Machinery, equipment and vehicles.
Answer: 60%
Explanation:
Find the ending work in process.
Materials are complete at inception so the Equivalent units of Materials represent the total units.
Ending WIP will therefore be:
= Materials EUP - Units started and completed
= 5,000 - 3,500
= 1,500 units
Stage of completion is based on Conversion.
Conversion EUP = Total started and completed + (x% * Closing WIP)
4,400 = 3,500 + (x% * 1,500)
4,400 = 3,500 + 15x
15x = 4,400 - 3,500
15x = 900
x = 900/15
x = 60%
<em>Conversion is 60% complete so this is the stage of completion. </em>
