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Vesnalui [34]
3 years ago
13

The Chart Company has a process costing system. All materials are added when the process is first begun. At the beginning of Sep

tember, there were no units of product in process. During September 61,000 units were started; 6,100 of these were still in process at the end of September and were 3/5 finished. The equivalent units for the conversion costs in September were:
Business
1 answer:
Mnenie [13.5K]3 years ago
6 0

Answer:

58,560 units

Explanation:

The computation of the equivalent units of production for the conversion cost is shown below:

We know that,

Ending work in progress inventory = Units started - units completed

6,100 units = 61,000 units - units completed

So, units completed = 61,000 units - 6,100 units = 54,900 units

It is given in the question that 3 ÷ 5 means 60% ending work in progress inventory units is completed,  

So completed units = 6,100 × 60% = 3,660 units

So,the equivalent units of production equals to

= Units completed + completed units in ending inventory

= 54,900 units + 3,660 units

= 58,560 units

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You are trying to save up for a spa package that costs $300. After looking at your paycheck, you decide that you will be able to
OlgaM077 [116]

Answer:

Short term

Explanation:

A short term goal is a mission that one wishes to accomplish in the immediate future. In general, short goals are achieved within one year. Plans or objectives that are set to be fulfilled within one year or less are short-term goals.  Another example of a short term goal is the purchase of household furniture.

The spa package budget will be achieved in six weeks, thereby qualifying as a short term goal. Long-term goals contrast short term goals as they take longer than one year to achieve.

4 0
3 years ago
Read 2 more answers
Midwest Water Works estimates that its WACC is 10.5%. The company is considering the following capital budgeting projects:
krok68 [10]

Answer:

Projects A,B,C,D and E should be accepted

Explanation:

Based on the fact that each of the itemized projects has the same of level of risk as the company's existing assets, we suggest that the firm undertake those projects that gives a return rate which is above the current weighted average cost of capital of 10.5%

In essence,projects A,B,C,D and E should be accepted as they 12%,11.5%,11.2%,11% and 10.7% returns on investment respectively.

Projects F& G would be rejected on the premise that their rates of return are lower than what is currently obtainable in Midwest Water Works.

7 0
3 years ago
Fashion, Inc. had a Retained Earnings balance of $16,000 at December 31, 2021. The company had an average income of $6,500 over
avanturin [10]

Answer:

Total amount of dividends paid over the last three years is $20500

Explanation:

The net income of the company is either retained in the company or paid out as dividends. To calculate the value of the ending retained earnings, we use the following formula,

Ending balance = Beginning balance + Net Income - Dividends

We first need to calculate the total net income for the 3 year period. The total net income for the 3 year period is, 3 * 6500 = $19500

Plugging in the available values for the ending and beginning balance of retained earnings and net income, we can calculate the value of total dividends paid for the three year period.

15000 = 16000 + 19500 - Dividends

Dividends = 35500 - 15000

Dividends = $20500

4 0
3 years ago
Callaway Golf Co. leases telecommunication equipment from Photon Company. Assume the following data for equipment lease form Pho
inessss [21]

Answer:

This lease is  regarded and classified  as Capital lease.

Explanation:

This lease is  regarded and classified  as Capital lease.

Here, Callaway Golf Co. is the body financing the leased asset but the right ownership is with Photon Company.

Now; the present value of future payment is calculated as:

Present value of future payment =[PVA 6%,5 × Annual payment ]+[PVF 6%,5 × Residual value]

=[4.46511 × 31000] +[0.74726 × 15500]

= 138418.27+ 11582.53

= 150000

However the present value of minimum lease payment is equal or more than 90% fair market value ,as such we therefore conclude that this  lease is a capital lease.

3 0
3 years ago
When the perpetual inventory method is being used, the accountant debits __________ __________ and credits Accounts Payable (or
777dan777 [17]

Answer:

merchandise inventory

Merchandise inventory

Merchandise inventory    

Merchandise inventory

Merchandise inventory    

Merchandise inventory

Explanation:

When the perpetual inventory method is being used, the accountant debits  <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.

When the perpetual inventory method is being used, the accountant debits  <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.

When the perpetual inventory method is being used, the accountant debits  <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.

The cost of each sale transaction ensures that the merchandise inventory account under a perpetual inventory system reflects the updated cost of merchandise available for sale.

4 0
3 years ago
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