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Ivanshal [37]
3 years ago
6

Beginning inventory amounted to 1,000 units. This period, 4,200 units were started and completed. At the end of the period, the

3,100 units in inventory were 30 percent complete. Using FIFO costing, the equivalent production for the period was 5,330 units. What was the percentage of completion of the beginning inventory?
Business
1 answer:
Margarita [4]3 years ago
6 0

Answer:

80%

Explanation:

Given:

Beginning inventory = 1,000

Number of units started and completed = 4,200

also, 30 % of 3100 units were completed = 930 units  

The equivalent production for the period = 5,330 units

now,

The number of units not completed = Total units produced - (30 % of 3100 units) -   (Number of units started and completed )

or

The number of units not completed = 5,330 - 930 - 4200 = 200 units

thus,

the number of units completed = Total inventory - number of units not completed

or

= 1000 - 200 = 800 units

thus, percentage of completed units = (Completed units / total inventory) × 100

on substituting the values, we have

percentage of completed units = (800 / 1000) × 100 = 80%

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You and two partners start a company. However, your partners play no role in running the company. You spend all your time managi
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Answer:

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Explanation:

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7 0
3 years ago
Assume that Horicon Corp acquired 25% of the common stock of Sheboygan Corp. on January 1 for $300,000. During the year Sheboyga
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Answer:

Option C. Debit Cash and credit Stock Investments

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Superior means better or greater in value. An instance of advanced users as an adjective is an advanced manager which means a supervisor whose abilities have been evaluated as fantastic. An instance of advanced users as an adjective is a superior grade of 100% on an exam. (printing) Set above the primary line of a kind. you use superior to explain someone or something that is better than different comparable humans or matters. Your superior in an agency that you work for is a person who has a higher rank than you. They do now not have a lot communique with their superiors.

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