Answer:
<u>Part 1</u>
Direct material cost per equivalent units = $194,560 / 25,600 ounces
Direct material cost per equivalent units = $ 7.60 per ounce
Conversion Cost per equivalent units = $98,340 / 29,800 ounce
Conversion Cost per equivalent units = $3.30 per ounce
<u>Part 2</u>
Completed and Transferred out of production = $2380 + (45,000* $2.20) + (3,600 * $0.65) + (45,000 * $0.65)
= $2,380 + $99,000 + $2,340 + $29,250
= $132,970
Inventory in process, ending = (3000 * $2.20) + (1500 * $0.65)
= $6,600 + $975
= $7,575
The clause in a mortgage that best describes the requirement of the mortgagee to execute a satisfaction of mortgage when the note has been fully paid is <u>defeasance</u>
<u></u>
<h3>What Is Defeasance?</h3>
When the borrower sets aside cash or bonds big enough to pay the obligation, the contract's defeasance clause renders the bond or loan worthless on the balance sheet. The outstanding debt and cash balance on the balance sheet are equal, thus they do not need to be reported because the borrower sets aside funds to pay down the bonds.
Buying commercial real estate is one instance of using defeasance. Due to commitments to bondholders having a stake in the commercial mortgage-backed securities (CMBS) that houses the loan, commercial loans may have hefty prepayment penalties in contrast to home mortgages.
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Balance sheet data: Current assets=($50,000+$65,000+$70,000)= $185,000, Current Liabilities = $85,000, Working Capital= $100,000
A balance sheet is a financial statement that lists the assets and liabilities of a corporation at a certain point in time.
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date. A balance sheet provides you with a quick overview of your company's financial situation at any given time. A balance sheet, along with an income statement and a cash flow statement, can aid business leaders in assessing the financial health of their organization. The balance sheet of a corporation offers a wealth of information about its operations and solvency. Assets, liabilities, and equity are the three main elements of a balance sheet. Executives, investors, analysts, and regulators utilize the balance sheet as a crucial tool to comprehend the current financial condition of a corporation. It frequently coexists with the income statement and the cash flow statement, the other two categories of financial statements.
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Answer:
$366,667
Explanation:
Average stock can be regarded as stock at the beginning of the period as well as stock towards ending of it
Given:
annual sales =$1,840,000
annual stock turnover =5.4.
average stock can be calculated as
average stock =annual sales/
annual stock turnover
= 1,840,000/ 4.5
= $366,667
Hence the average stock in a department is $366,667