Answer:
The balance in the Work in Process inventory at the month end is $60
Explanation:
Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.
For computing the Job 3 work in progress, the calculation part is shown below.
= Direct material + Direct labor + overhead expense
= $30 + $10 + 200% × 10
= $30 + $10 + $20
=$60
Hence, the balance in the Work in Process inventory at the month end is $60
Answer:
The answer is $2000.
Explanation:
Total surplus = Consumer surplus + Producer surplus
= [ 0.5 (50-0) x ( 90 -45)] + [ 0.5(50-0) x (45 - 10)]
= [ 0.5 x 50 x 45] + [ 0.5 x 50 x 35]
= 1125 + 875
Total Surplus = $2000.
