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kirza4 [7]
3 years ago
14

Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first pr

ocessing department for a recent month: Work in process, beginning: Units in process ? Percent complete with respect to materials 75 % Percent complete with respect to conversion 50 % Costs in the beginning inventory: Materials cost $ 2,300 Conversion cost $ 3,600 Units started into production during the month 25,200 Units completed and transferred out during the month 24,000 Costs added to production during the month: Materials cost $ 98,750 Conversion cost $ 220,500 Work in process, ending: Units in process 2,000 Percent complete with respect to materials 80 % Percent complete with respect to conversion 45 %
Business
1 answer:
klasskru [66]3 years ago
7 0

Answer:

beginning WIP                800

Question: which are the physical units in the beginning work in process inventory?

Explanation:

The beginning WIP and the started and completed untis will be the total transferred units.

<u><em>We first, solve for the start and completed: </em></u>

Unit Stated                     25,200

Ending WIP(incomplete)<u>  2,000   </u>

start and complete        23,200

<em><u>Now, we solve for the WIP: </u></em>

<em><u /></em>

Transferred units      24,000

start and complete<u>  (23,200)  </u>

beginning WIP                800

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You have been hired as an economic consultant to the mayor. he is considering putting a tax on several products. you are worried
Fittoniya [83]

Answer: b) Supply is inelastic and demand is inelastic.

Explanation: Dead-weight loss is the loss in total surplus when a tax is imposed on a good which restricts demand and supply from balancing. When both the demand and the supply curves are inelastic, the effect of a tax will be lead to a small change in the quantity being traded in the market. Thus, the equilibrium quantity at the taxed price will not fall much and the dead weight loss will therefore, be smaller.

4 0
3 years ago
If a researcher were to ask consumers to quickly name the top 3 brands of computers they might consider purchasing, the most com
Murrr4er [49]

Answer:

C. Evoked Set

Explanation:

Evoked set simply describes a set of brand that comes to a buyer's mind when a thinks of buying a product. They are brands that customers are aware of and when they consider buying a product, they think of those they are aware of. A good example is the one asked in the question, when a customer thinks about buying a computer, the brands that he's aware of and think about would most likely be Dell, Apple and Hp. In marketing, achieving evoked set is the wish of every marketer of a particular brand. This is because, these categories of goods are the ones that are most likely to be purchased. Lots of companies spends a lot in advertising to make it to customers evoked set because of the presumed benefits that comes with it.

8 0
3 years ago
Tinker's cost of goods sold in the year of sale (2019) was $850,000 and 2018 cost of goods sold was $870,000. The inventory at t
masya89 [10]

Answer:

Inventory turnover period in 2019  =89.3 days

Explanation:

<em>The inventory turnover period also known as the inventory days is the average length of time it takes business to sell its stocks and replace same. The shorter the better as it indicates a high patronage from customers.</em>

It is calculated as follows:

<em>Inventory turnover = (Average inventory / cost of goods ) × 365 days</em>

Note that,

<em>average inventory =( opening inventory + closing inventory)/2</em>

Average inventory = (218,000 + 198,000)/2 = 208,000

<em>Cost of goods sold in 2019</em> = $850,000

Inventory turnover period = (208,000/850,000)× 365 days

                                          =89.3 days

4 0
2 years ago
Read 2 more answers
Grossnickle Corporation issues 20-year, noncallable, 7.1% annual coupon bonds at their par value of $1,000 one year ago. Today,
8_murik_8 [283]

Answer:

Price of bond= $1,185.72

Explanation:

<em>The price of a bond is the present value (PV) of the future cash inflows expected from the bond discounted using the yield to maturity. </em>

These cash flows include interest payment and redemption value

The price of the bond can be calculated as follows:

Step 1

PV of interest payment

annual coupon rate = 7.1%

Annual Interest payment =( 7.1%×$1000)= $71

Annual yield = = 5.5%

PV of interest payment  

= A ×(1- (1+r)^(-n))/r

A- interest payment, r- yield - 5.5%, n- no of periods -19 periods

= 71× (1-(1.055)^(-19))/0.055)

= 71× 11.60765352

= 824.143

Step 2  

PV of redemption value (RV)

PV = RV × (1+r)^(-n)

RV - redemption value- $1000, n- 19, r- 5.5%  

= 1,000 × (1+0.055)^(-19)

= 361.579

Step 3

Price of bond = PV of interest payment + PV of RV

$824.143 +  $361.579

Price of bond= $1,185.72

7 0
3 years ago
Damon convinced his aunt to lend him $6,900 to purchase a plasma digital TV. She has agreed to charge only 12 percent simple int
siniylev [52]

Answer:

444

Explanation:

Simple Interest for a year can be calculated using

I = PRT/100

P= Principle amount

R= percent simple interest

T= time

(3700)(12)(1)/100 = 444

3 0
2 years ago
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