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Luden [163]
3 years ago
11

The equivalent units in beginning work in process inventory plus the equivalent units in ending work in process inventory equals

the units transferred out plus the equivalent units for the work done during the period. True or false?
Business
1 answer:
vivado [14]3 years ago
8 0

Answer:

False

Explanation:

The formula for equivalent units units as follows:

Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred

Therefore, ideally,

Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.

As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.

<u>Therefore, above statement is false.</u>

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Shroden is a consumer goods manufacturer. It manufactures cookies, batteries, toothpaste, and soap. In the context of operations
Ray Of Light [21]

Answer:

inventory

Explanation:

Every item that is produced or purchased by the business in order to resell it and earn profit through it as a normal purpose of business, is considered as inventory.

In the given instance, Shroden manufactures consumer goods, like cookies, batteries, etc:

And since he targets to sell them and earn profit, all these manufactured products is the inventory of his business.

3 0
3 years ago
Which of the following is a correct statement?
Nastasia [14]

Answer:

The answer is B.

Explanation:

In purely competitive firms, there are many buyers and sellers that no single buyer or seller can influence the price of goods. They accept the price set by the market conditions which depend on the market supply and demand. Firms in this market are price-takers.

In monopolistic firm, no one is competing against him. He is the only one in the industry. He is the only seller while buyers are many. In most cases, buyers do not have alternative than to buy the product. Because of this, the firm in monopoly sets its price. He is a price-maker.

8 0
2 years ago
Roxy Inc. issued 3,000 shares of no-par common stock with a stated value of $5 per share. The market price of the stock on the d
7nadin3 [17]

Answer and Explanation:

The journal entry to record the issuance of the common stock is shown below;

Cash Dr (3,000 shares × $14) $52,000

  To Common stock (3,000 shares × $5) $15,000

  To Additional paid in capital $27,000

(being the issuance of the common stock is recorded)

Here the cash is debited as it increased the asset and credited the common stock & additional paid in capital as it also increased the equity

3 0
3 years ago
If the level of activity increases within the relevant range Group of answer choices Variable cost per unit and total fixed cost
MatroZZZ [7]

Answer:

Total cost will increase and fixed cost per unit will decrease V

Explanation:

5 0
2 years ago
Which of the following statements regarding uncertainty in liabilities is not correct? Group of answer choices Liabilities can i
nadya68 [22]

Answer: A company can only record a liability when it knows whom to pay, when to pay, and how much to pay

Explanation:

A liability is simply defined as the amount that a particular company owes. Liabilities consist of loans, accrued expenses, defered revenue, and accounts payable.

We should note that liabilities can involve uncertainty in whom to pay. Also, a company can have an obligation of a known amount to a known creditor, but not know when it must be paid.

Based on the options given in the question, the answer will be "a company can only record a liability when it knows whom to pay, when to pay, and how much to pay".

5 0
3 years ago
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