1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
murzikaleks [220]
3 years ago
15

The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventor

y consists of 10,000 units, 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the costs per equivalent unit are $4.50 for the materials and $2.00 for labor and overhead, the balance of the ending work in process inventory account would be:a. $44,500b. $50,500c. $59,000d. $65,000
Business
1 answer:
lubasha [3.4K]3 years ago
8 0

Answer:

$59,000

Explanation:

In this question, we are asked to calculate the balance of the ending work in process inventory account.

The process or technique to use is the weighted-average method. The weighted-average method refers to the method used to assign average cost of production to a product. When using this method, the cost of goods available is divided by the number of units of goods available for sale. This yields the weighted-average cost per unit.

Mathematically;

Balance of Ending Work in process = 10,000 * $4.5(Direct Material) + 10,000 * 70% * 2 (Labor and Overhead) = $45,000+ $14,000 = $59,000

You might be interested in
It is advisable to spend less money on wants than you do on needs.true or false
aev [14]
True, you don’t want to spend more money on wants instead of needs because if you do you won’t have enough money for things that you really need.
5 0
3 years ago
Read 2 more answers
It is characteristic of – goods that they are not used up in the short run. A society can choose to – some quality of life now—f
LenaWriter [7]

Answer:

It is characteristic of CAPITAL goods that they are not used up in the short run. A society can choose to SACRIFICE some quality of life now BY PURCHASING fewer consumer goods ANS SAVING MONEY in order to build up its stock of capital goods. This will lead to a HIGHER QUALITY OF LIFE and more consumer goods PURCHASED AND CONSUMED later on.

Explanation:

A consumer can choose between saving and spending money, that is measured by the marginal propensity to consume or the marginal propensity to save. Money that is spent now, will provide a certain satisfaction in the present, but nothing in the future. Money saved will not provide a certain satisfaction in the present, but should provide much more satisfaction in the future since it should grow as time passes.

8 0
3 years ago
At a product's equilibrium price:
just olya [345]

Answer:

The answer is. C) any buyer who is willing and able to pay the price will find a seller for the product.

Explanation:

At a product's equilibrium price, the quantity demanded of the product equals the quantity supplied of the product. So that means that there will always be a supplier willing to sell the product to any consumer who is willing to pay for that product.

7 0
3 years ago
You want a seat on the board of directors of Four Keys, Inc. The company has 265,000 shares of stock outstanding and the stock s
Mila [183]

Answer:

44,167.67 shares

Explanation:

Given that

Number of shares of stock outstanding = 265,000

Sale value per share of stock = $76

Number of seat for election = 5

So by considering the above information, the number of shares needed by using the cumulative voting is

= {shares outstanding ÷ (number of seats + 1) + 1}

= {(265,000 shares ÷ (5 +1) +1}

= 44,167.67 shares

5 0
3 years ago
$444,567 Revenue, $400,500 Expenses. Net Profit?
chubhunter [2.5K]

Answer:

44,067

Explanation:

4 0
3 years ago
Other questions:
  • Lysol sanitizing wipes entered the market at a low sales price and was supported by heavy couponing. As the initial trial period
    9·2 answers
  • Andrea, an enterprising individual, wants to open a store in her town. She wants her store to be of the same type as a popular c
    8·1 answer
  • How does a local water budget differ from the water budget of the whole earth?
    15·1 answer
  • What term is used to describe something that prevents a listener from understanding a message?
    10·1 answer
  • Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputa
    12·1 answer
  • In a push based system of distribution which relies on selling to customers through a sales force and retail partners, managers
    10·1 answer
  • Maria, the vice president of sales for an international organization, believes that employees in her foreign offices understand
    6·1 answer
  • All of the following are ways the WBS helps in managing projects EXCEPT Select one:
    14·1 answer
  • Company Z is a U.S. company that is the first in this country to produce a good that is already produced in many foreign countri
    7·1 answer
  • Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Which statement is true
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!