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Scrat [10]
3 years ago
7

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

September, there were no units of product in process. During September 65,000 units were started; 6,500 of these were still in process at the end of September and were 3/5 finished. The equivalent units of material in September were:____________
Business
1 answer:
Oliga [24]3 years ago
5 0

Answer:

The equivalent units of of materials in September = 62,400 units

Explanation:

<em>Equivalent units are useful to apportion cost between work in progress and completed units. They are notional whole units which represent incomplete work</em>

Equivalent Units = Degree of work completed (%) × inventory units

Items                        units            workings           Equivalent units

Completed unit        58,500      58,500× 100%  =     58,500

Closing WIP              6,500        6,500 × 3/5   =       <u>3,900</u>

Total equivalent units of materials                            <u>62,400.</u>

The equivalent units of of materials in September = 62,400 units

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Teri Martin Nerdmeister, CPA provides bookkeeping and tax services to her clients. She charges a fee of $60 per hour for bookkee
Anna007 [38]

Answer: a. 33,000 b. $110

Explanation:

The following information can be derived from the question:

The total cost allocated to the bookkeeping services using activity-based costing will be:

Office Supplies will be:

= (16000 × 1200) ÷ (1200 + 800)

= 19200000/2000

= 9600

Computer Fees will be:

= (24000 × 400) ÷ (400 + 600)

= 9600000/1000

= 9600

Secretary's Salary will be:

= (30000 × 16) ÷ (16 +84)

= 480000/100

= 4800

Rent will be:

= (18000 ×™1) ÷ (1+1)

= 18000/2

= 9000

Therefore, the total Cost that is allocated will be:

= 9600 + 9600 + 4800 + 9000

= $33000.

b. Here, we are told that Martin wants her hourly fees for the tax services to be 160% of their activity-based costs. Therefore, the fee per hour for tax services in the upcoming year will be:

= [(88000 - 33000)/800] × 160%

= (55000/800) × 1.6

= 68.75 × 1.6

= $110

5 0
3 years ago
The model of monopolistic competition can characterize the market for plumbing services in a city. Suppose that the market is in
Verdich [7]

Answer:

Correct answer is (C) The price and output of plumbing services will rise

Explanation:

In a monopolistic market if the service or commodity is initially in long-run equilibrium, and then there is an increase in demand, then, there will increase in price in a short run as people demands more and the provider of the service or the producer of the goods will tend to provide or produce more.

6 0
3 years ago
Decision makers and analysts look deeply into profitability ratios to identify trends in a company’s profitability. Profitabilit
ahrayia [7]

Answer:

  • If a company has a profit margin of 10%, it means that the company earned a net income of $0.10 for each dollar of sales.  A 10% PROFIT MARGIN MEANS THAT THE COMPANY EARNED 10 CENTS FOR EVERY DOLLAR OF REVENUE.
  • If a company's operating margin increases but its profit margin decreases, it could mean that the company paid more in interest or taxes.  OPERATING PROFIT = GROSS PROFIT - FIXED COSTS, NET PROFIT = OPERATING PROFIT - (INTERESTS AND TAXES). IF TAXES OR INTERESTS INCREASE, NET PROFITS DECREASE

Explanation:

there are several profitability ratios, the most important ones are:

  1. profit margin = net profit / total revenue
  2. gross profit margin = gross profit / total revenue
  3. return on equity = net income / total shareholder equity
  4. return on assets = net income / total assets

4 0
3 years ago
Which describes the process of diagnosing an organization's external and internal environments, including deciding on a vision a
Rudiy27

Strategic planning

Explanation:

Process to identify the external and internal conditions of the organisation, determine a strategy and goal, formulate general goals, establish and choose general approaches, and allocate resources for the organization's objectives.

Strategic planning is the method of documenting and guiding the small company— by evaluating where they are and where they're going. The strategic plan actually provides them with the opportunity to record the mission, vision and principles and their lengthy-term goals and intervention plans to achieve them.

5 0
3 years ago
The role of the entrepreneur in society is to bring the factors of production together and take the risks of producing output. r
tatuchka [14]

Answer:

bring the factors of production together and take the risks of producing output.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

The four factors of production are;

I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.

II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.

IV. Entrepreneurship: it is the intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

In a society, the role of an entrepreneur is mainly focused on bringing the four (4) factors of production together and take the risks of producing output, so as to generate revenue through sales and make economic profits in the long-run.

In conclusion, when the aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.

3 0
3 years ago
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