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3 years ago

Wealth is:

Business

1 answer:

laiz [17]3 years ago

5 0

Answer:

Explanation:

Wealth is a term associated with an individual's life-style. This includes all of a person's material assets, including wage, land, stocks, and other types of property. Basically anything and everything that belongs to an individual which provides a certain value to that individual. Thus placing them in a specific economic category.

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In a department, 28,000 units are completed and transferred out and 14,400 remain in ending WIP at 85% complete. If an equivalen

Zigmanuir [339]

Answer:

The value of materials transferred out is $224,000

Explanation:

The condition for the units for transferred is that they must have been completed 100% with respect to equivalent unit cost,hence the materials transferred out should be valued at full $8.00 per direct material.

The value of materials transferred out=28,000*$8.00

=$224,000

The value of WIP=$8.00*85%*14,400

=$97,920

The closing WIP of $97920 would be the beginning inventory in production next period an would ultimately form part of materials completed and transferred next period.

8 0

3 years ago

Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no b

Sveta_85 [38]

Answer:

$136

Explanation:

Date Transaction Units Cost Total

3 Purchase 5 $20 $100

10 Sale 3

17 Purchase 10 $24 $240

20 Sale 6

23 Sale 3

30 Purchase 10 $30 $300

using the first in, first out method, the COGS is calculated based on the oldest price of the units in merchandise inventory:

6 units were sold on May 20th, 2 of them costed $20 (May 3rd purchase) per unit = $40, while 4 of them costed $24 (May 17th purchase) = $96. Total COGS = $40 + $96 = $136.

7 0

3 years ago

The Benesch Company expects sales in 2018 of 205,000 units of serving trays. Benesch's beginning inventory for 2018 is 18,000

ozzi

Answer:

214,000 trays

Explanation:

Budgeted sales in unit. 205,000

Add: targeted ending inventory 27,000

Total requirements. 232,000

Deduct: beginning inventory (18,000)

Budgeted units to be prod. 214,000

6 0

3 years ago

MasterCom Corporation corporation produces a semiconductor chip used on communications. the direct materials are added at hte st

Mariana [72]

Answer:

a. The equivalent units of work done in June= 450,000

b. The total manufacturing cost per chip= $ 12.199= $ 12.2

Explanation:

a. The equivalent units of work done in June

Units Started 475,000

Units Completed 425,000

Units still in Process completed 50% = (50,000 * 50%) 25,000

The equivalent units of work done in June = 450,000

b. The total manufacturing cost per chip

Direct material cost $935,750

Conversion costs $4,554,000

The total manufacturing $ 5489750

The total manufacturing cost per chip = $ 5489750/450,000

The total manufacturing cost per chip = $ 12.199= $ 12.2

3 0

3 years ago

Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2011. The note, along with interest at 6%, is

Paul [167]

Answer:

$39,220

Explanation:

The maturity value of the note receivable on June 30, 2012

= Principal + Interest

= $40,000 + $40,000 x 6%

= $40,000 + $2,400

= $ 42,400

The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011

= 12 - 3 months ( July, Aug and Sep)

= 9 months.

Amount of deduction

= $ 42,400 x 10% x 9/12

= $ 3,180

Finally, the Cash received by Ireland will be

= Maturity value - Discount

= $42,400 - $ 3,180

= $39,220

5 0

3 years ago