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iris [78.8K]
3 years ago
8

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 63,000 units were started; 6,300 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:
Oksanka [162]3 years ago
6 0

Answer:

The equivalent units of material in September were:  63,000

Explanation:

<em>Step 1 Calculate the Units Completed and Transferred to Finished Goods</em>

Units Completed and Transferred to Finished Goods = Units Started - Units in Closing Work In Process

                                                                                        = 63,000-6,300

                                                                                        = 56,700

<em>Step 2 Calculate equivalent units of material in September</em>

Note : All materials are added when the process is first begun. This means that BOTH the <em>Units Completed and Transferred to Finished Goods </em>and <em>Units in Closing Work In Process </em>are 100 % complete in terms of materials

Materials :

Units Completed and Transferred to Finished Goods   = 56,700

Units in Closing Work In Process                                     =   6,300

Total                                                                                   = 63,000

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We assume that when a firm hires additional workers, the marginal physical product of labor will:
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WE assume that when a firm hires additional workers, the marginal physical product of labor will decrease. Why? Because more people will be added in a certain firm. Thus the resources will be divided to more people now and the money will also be divided to them
3 0
3 years ago
Madeline quits her job, at which she was earning $20,000 per year. She then takes $50,000 out of savings, on which she was earni
Alenkinab [10]

Answer:

A. Madeline's accounting cost is $75,000

B. Madeline's economic cost is $100,000

C. Madeline's accounting profit is $75,000

D. Madeline's economic profit is is $50,000

Explanation:

A. To calculate Madeline's accounting cost we would have to make the following calculation:

Madeline's accounting cost=cost of supplies+rent+labour costs

Madeline's accounting cost=$50,000+$10,000+$15,000

Madeline's accounting cost=$75,000

B. To calculate Madeline's economic cost we would have to make the following calculation:

Madeline's economic cost=explicit cost+implicit cost

=$75,000+opportunity cost

=$75,000+0.10*$50,000+earning job

=$75,000+$5,000+$20,000

=$100,000

C. To calculate Madeline's accounting profit we would have to make the following calculation:

Madeline's accounting profit=revenue-accounting cost

=$150,000-$75,000

=$75,000

D. To calculate Madeline's economic profit we would have to make the following calculation:

Madeline's economic profit=revenue-economic profits

=$150,000-$100,000

=$50,000

6 0
3 years ago
Blade Breeze Company manufactures ceiling fans and uses an activity-based costing system. Each ceiling fan has 20 separate parts
Rainbow [258]

Answer:

cost of machining per ceiling fan= $18  per unit

Explanation:

<em>Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers. Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.</em>

For example, the machining overhead would charged to each ceiling fan using the machining overhead rate per machine hours.

Cost of machining per ceiling fan = Machining hours × overhead rate per machine hours

= 2.50 × $7.20= $18  per unit

cost of machining per ceiling fan= $18  per unit

5 0
3 years ago
The following selected transactions were completed during July of the current year: July 1 Billed customers for fees earned, $72
mixer [17]

Answer:

a. Journal Entries:

July 1 Debit Accounts receivable, $72,960

Credit Fees Earned $72,960

To record fees earned.

July 4 Debit Supplies $1,900

Credit Accounts payable $1,900

To record supplies purchased on account.

July 8 Debit Cash $65,960

Credit Accounts receivable $65,960

To record cash received from customers on account.

July 11 Debit Accounts payable $840

Credit Cash $840

To record payment to creditors on account.

Cash

Date     Account Titles            Debit     Credit

July 8  Accounts receivable $65,960

July 11 Accounts payable                      $840

Supplies

Date     Account Titles            Debit     Credit

July 4   Accounts payable    $1,900

Accounts Receivable

Date     Account Titles            Debit     Credit

July 1   Fees Earned           $72,960

July 8  Cash                                      $65,960

Accounts Payable

Date     Account Titles            Debit     Credit

July 4   Supplies                                   $1,900

July 11   Cash                          $840

Fees Earned

Date     Account Titles            Debit     Credit

July 1    Accounts receivable            $72,960

c. If the unadjusted trial balance on July 31 shows a credit balance for Accounts Receivable, it means that an error has occurred, unless the cash received from customers on account exceeds the debit balance on the Accounts receivable.  This will mean that some customers paid in advance for services not yet rendered.  This credit balance needs to be transferred to the Deferred Revenue account.

Explanation:

a) Data and Calculations:

July 1 Accounts receivable, $72,960 Fees Earned $72,960

July 4 Supplies $1,900 Accounts payable $1,900

July 8 Cash $65,960 Accounts receivable $65,960

July 11 Accounts payable $840 Cash $840

3 0
2 years ago
Suppose that the one-year interest rate is 5.0 percent in the United States; the spot exchange
Mrac [35]

Answer:

The interest rate for the euro zone to avoid arbitrage has to be C) 8.62%

Explanation:

Hi, we need to solve for r(eur) the following equation in order to find an interest rate that will avoid arbitrage.

Forward=Spot(\frac{1+r(usd)}{1+r(eur)} )

That is:

1.16 =1.20 (\frac{1+0.05} {1+r(eur)} )

(1+r(eur)) =\frac{1.20} {1.16} (1+0.05)

r(eur)=\frac{1.20}{1.16}(1+0.05)-1

r(eur)=0.0862

So, the euro zone rate to avoid arbitrage is 8.62%, which is option C)

Best of luck.

3 0
2 years ago
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