Answer:
$2.25 per unit
Explanation:
The computation of the cost per equivalent is shown below:
= Total conversion cost ÷ total units completed
where,
Total conversion cost is
= Beginning work in process conversion cost + cost of conversion added
= $20,250 + 271,125
= 291,375
And, the number of units is
= Units completed + work in process ending inventory units × completion percentage
= 115,700 units + 23,000 units × 60%
= 115,700 + 13,800
= 129,500 units
So, the cost per equivalent unit for conversion cost is
= $291,375 ÷ 129,500 units
= $2.25 per unit
Answer:
See below
Explanation:
The below shows the calculation of variance
Budgeted direct labor (per unit) 0.60
Units 2,000
Budgeted direct total labor (hrs) 1,200
Actual hours 1,160
Standard rate $17
Direct labor efficiency variance
The direct labor efficiency variance
= (Budgeted hours - Actual hours) × Standard rate
= (1,200 - 1,160) × $18
= $720 favourable
Answer:
ABC company
Explanation:
Basically there are two markets i.e primary market and the secondary market.
The primary market is the market in which the initial public offer is taking place that means the new security is first offered to the public by the company whereas, in the secondary market, the broker or investor is involved while offering the securities.
In the given situation, the ABC company itself is involved while selling the shares of ABC stock in the primary market