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4 years ago

Work in process, beginning:

Business

1 answer:

densk [106]4 years ago

4 0

Answer:

FIFO Equivalent Units Materials = 15,320

FIFO Equivalent Units Conversion = 15,680

Explanation:

FIFO methods,

The equivalent units of production

Materials and conversion costs.

Particulars Units % of Completion Equivalent Units

Materials C. Costs Materials C. Cost

Beg WIP 900 60 10 540 90

Units Transferred 14500 100 100 14500 14500

<u>WIP Ending 400 70% 70% 280 280</u>

<u>Total 14900 15,320 15,680</u>

FIFO Equivalent Units Materials = 15,320

FIFO Equivalent Units Conversion = 15,680

In Fifo method the percentage of the worked units is calculated to find the equivalent units of production.

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Crane Company has outstanding accounts receivable totaling $6.40 million as of December 31 and sales on credit during the year o

atroni [7]

Answer:

$320,000 or $0.32 million

Explanation:

In accounting, the percentage of bad debt expenses is applied to the outstanding accounts receivable at the end of a particular accounting period.

In the question, the end of the accounting period is given as December 31 and the outstanding accounts receivable as at that December 31 is a total of $6.40 million. Therefore, we will disregard other values and simply apply 5% to the the outstanding accounts receivable of $6.40 million as at that December 31 as follows:

Bad debt = Outstanding accounts receivable × 5%

= $6.40 million × 5%

= $6,400,000 × 5%

= $320,000

Therefore, the amount of bad debt expense to recognized for the year is $320,000 or $0.32 million.

5 0

3 years ago

Consider the following for Guardian Manufacturing Company: Change in finished goods inventory $ 315 increase Change in work-in-p

Alex73 [517]

Answer:

B) $ 485 $ 170

Explanation

The cost of goods manufactured includes all the manufacturing costs in a given period adjusting for changes in work in process balances. The total manufacturing costs are $ 630 but this results in an increase in work in process inventory by $ 145, so in other words, part of the total manufacturing costs have gone towards increasing the work in process balance.

So the cost of goods manufactured is $ 630 - $ 145 = $ 485.

The cost of goods sold is the cost of goods manufactured above adjusted for changes in finished goods.

so the cost of goods sold is $ 485 - $ 315 ( change in finished goods inventory) = $ 170.

8 0

3 years ago

Sydney wins a prize. She has a choice of receiving a payment of $160,000 immediately or of receiving a deferred perpetuity with

Mamont248 [21]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

She has a choice of receiving a payment of $160,000 immediately or of receiving deferred perpetuity with $10,000 annual payments, the first payment occurring in exactly four years.

A) i= 5%

First, we need to determine the value of the perpetuity four years from now.

Perpetuity= 10,000/0.05= 200,000

Now, we can calculate the present value:

PV= 200,000/(1.05^4)= $164,540.50

B) i= 6%

Perpetuity= 10,000/0.06= $166,666.67

PV= $166,666.67/1.06^4= $132,015.61

C) She should consider her necessities of cash and the value of the products she can purchase now.

5 0

3 years ago

When Jeff got a new cell phone, he gave his old phone to his daughter. He had bought it the year before. It was in a relatively

stellarik [79]

Answer: Planned obsolescence

Explanation:

Planned obsolescence is one of the type of strategy in which the organization basically ensure about the present version of the given product so that the present become obsolete after some time means out of fashion for not in use.

The planned obsolescence is basically used for designing the industrial and helps in planning the various types of policies for making the products in an organization.

According to the question, the given example is best illustrating the planned obsolescence situation. Therefore, Planned obsolescence is the correct answer.

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3 years ago

Ownership concentration is determined by both:________ a. the number of outside directors and total percentage of shares they ow

Inessa [10]

Answer:

Explanation:

Ownership concentration refers to the internal governance mechanism where the owners of the company/firm/business (shareholders) can control and thus influence the direction that the company takes in order to protect their own interests. Therefore the ownership concentration is determined by both the number of stockholders and the parties they represent.

6 0

3 years ago