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Zanzabum
2 years ago
8

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the

first processing department consisted of 1,800 units. The costs and percentage completion of these units in beginning inventory were:
Cost Percent Complete
Materials costs $7,100 65%
Conversion costs $8,200 45%

A total of 9,300 units were started and 7,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Cost
Materials costs $126,900
Conversion costs $208,400

The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for conversion costs for the first department for the month is closest to:_______
Business
1 answer:
storchak [24]2 years ago
8 0

Answer:

Ending Inventory Units = 500 + 6700 - 6000 = 1200 units

Equivalent units for Material = Units completed and transferred*100% + Ending Inventory units*50% = 6000*100% + 1200*50%

= 6000 + 600 = 6600 units

Cost per equivalent unit for materials = (Beginning Material cost + Material cost incurred during the month) / Equivalent units for Material

= ($5800 + $125600) / 6600

= $19.91

Hence, third option is correct.

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Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 2018, follow: Fees earned $900,
Virty [35]

Answer:

Net income is $135,00 from the income statement.

Explanation:

In the Income Statement for a particular year, all expenses all expenses for the year are deducted from the income to arrive at net income for that year. Based this, we have:

Paradise Travel Service Income Statement For the Year Ended May 31, 2018

<u>Details                                         ($)   </u>

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Miscellaneous expense         (15,000)

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Net income                          <u>  135,000 </u>

Therefore, net income is $135,00 from the income statement.

6 0
3 years ago
eastern hotel corp. pays a constant $7.80 dividend on its stock. the company will maintain this dividend for the next 13 years a
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The stock is now trading at $52.16 per share.

The current value of an annuity of n regular payments of P at r% with yearly payments is provided by:

PV = P × (1 -((1 + r) ^{-n}÷r))

Estes Park Corp. distributes a fixed rate of a dividend of P = $7.80 per share on its shares. The corporation will retain this dividend for the following n = 13 years before ceasing dividend payments permanently. If the necessary returns on this stock are not metis r = 11.2% = 0.112.

The actual share price is calculated as follows:

Current share price = $7.80 × (1 -((1 + 0.112) ^{-13}÷0.112))

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6 0
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Evaluate various ethical issues walmart has faced and how the company respond to stakeholders
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3 years ago
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