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Reptile [31]
3 years ago
11

Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with

3,400 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 64,500 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 25,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs.What were the equivalent units for conversion costs in the Assembly Department for the month?
a) 86,100
b) 42,900
c) 55,520
d) 57,900
Business
1 answer:
Alchen [17]3 years ago
7 0

Answer:

d) 57,900

Explanation:

The computation of the equivalent units for conversion costs in the Assembly Department for the month is shown below:

As we know that

Units transferred to the next department = Units in beginning work in process + units started into production - units in ending work in progress inventory

= 3,400 units + 64,500 units - 25,000 units

= 42,900 units

Now the equivalent units for conversion units is

= 42,900 units × 100% + 25,000 units × 60%

= 42,900 units + 15,000 units

= 57,900 units

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Answer:

The correct answer is C

Explanation:

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In short, when depositing the money into any financial institution like banks, then this states the store of value function of the money.

Therefore, the one which is not the function of money is that it has the operations in the open market.

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3 years ago
Given below is a numbered list of cost terms. For each of the definition statements that follow, place the number of the cost te
leva [86]

Answer:

The correct answers are the following:

a - 4 Sunk

b - 5 Opportunity

c - 3 Fixed

d - 2 Variable

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f - 1 Recurring

g - 7 Direct

h - 8 Non-recurring

Explanation:

a) <em>Sunk costs</em> are those that have already occurred in the past and they can not be recovered again so therefore that they are not relevant at the time of taking decisions regarding the futue.

b) <em>Opportunity costs</em> are those that try to measure and show the sacrifice done at the time of making a decision when that sacrifice represents the best second option that the person could have done.

c) <em>Fixed costs</em> are those that are always the same amount and do not change with the activity level of the production of the company.

d) <em>Variable costs</em> are those that do change with the amount of activity level that the company has during the production process.

e)<em> Incremental costs</em> are those that increase the cost level of the production while the output level increases as well, so they are a concept on the margin.

f) <em>Recurring costs</em> are those that tend to repete continously in the production process so the company already know how much the amount of the cost is.

g) <em>Direct costs</em> are those that the company associates with the production process regarding the commodities and all the primary sources that are needed to produce the good and therefore that they impact directly in the production and in the cost of the final product.

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4 0
3 years ago
During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896
STALIN [3.7K]

Answer:

A) March 31 journal entries for wages expense and wages payable

  • Dr Salaries and Wages Expense account 64,000
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B) March 31 journal entries for company's payroll tax expenses

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8 0
3 years ago
Chang Industries has 2,000 defective units of product that already cost $14 each to produce. A salvage company will purchase the
tiny-mole [99]

Answer:

Sunk cost

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-Sunk cost is a cost that has already been paid and that it is not possible to get it back.

-Out-of-pocket cost is a cost that requires a direct payment in the actual period.

-Opportunity cost is the cost of not receiving a benefit when you choose an alernative over another one.

-Period cost is a cost that is not associated with the production of goods.

According to this, the answer is that the $14 per unit is a sunk cost because the company has already spent that manufacturing the products and it is not able to recover that money.

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