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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
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through tw
liubo4ka [24]

Answer:

<u>Physical flow schedule</u>

Inputs

Beginning Work in Process                86,300

Add Units Started                              105,900

Total                                                    192,200

Outputs

Units Completed and Transferred   172,900

Units in Ending Work in Process       19,300

Total                                                    192,200

Explanation:

A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.

Units Introduced must always be equal to units outputs in physicals terms.

<em>Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process</em>

                                                        = 86,300 + 105,900 - 19,300

                                                        = 172,900

6 0
2 years ago
During January 2017 General Fund supplies ordered in the previous fiscal year and encumbered at an estimated amount of $2,000 we
Norma-Jean [14]

Answer:

The correct answer is:

Expenditures—2017 in the amount of $200. (C.)

Explanation:

This scenario describes a record that was less than the actual amount spent on the General Fund supplies. The amount recorded was $2,000, meanwhile the actual amount spent was $2,000. This entails that an amount worth $200 was not recorded, hence it will be debited as expenditures, but the question now is where the debit will be recorded?

This review was done in January 2017, meaning that the income statement for the 2016 Fiscal year must have been balanced, hence the amount will be an expenditure recorded in 2017, but the particulars will have a description that it was a carried over expenditure from 2016. Therefore $200 will be debited from 2017 as expenditures.

5 0
2 years ago
Montross Lumber processes wood to be shipped to construction companies. In order to keep its products uniform, Montross conducts
tiny-mole [99]

Answer:

$450

Explanation:

Activity based costing is the process by which a business allocates cost on the basis of the number of times an activity is carried out.

For example if different departments use a photocopier to copy 3,000, 5,000, and 2,000 sheets. The total cost will be allocated based on amount of activity per department.

In this instance

Total number of boards= 36,000

Inspections= 5% of the total

Inspection cost= $15 per hour

Percentage that will be inspected= 0.05 * 36,000 = $1,800

It takes one minute to inspect each board, there are 60 minutes in one hour. So 60 boards are inspected in one hour.

Number of inspection hours= 1,800 ÷ 60= 30 hours

Total cost of inspection= Cost per hour * Number of hours

Total cost of inspection= 15 * 30= $450

7 0
3 years ago
When the stockholders receive a dividend, how would this affect the equity of a business?.
morpeh [17]

Assets and total equity will both be decreased is When the stockholders receive a dividend, how would this affect the equity of a business.

<h3>Who are the stockholder?</h3>

Stockholders are the people who have purchased the stocks and have invested in the particular firm, they are the people. The stockholders hold some of the share of any company, which they can sell or purchase anytime.

Thus, Assets and total equity will both be decreased is When the stockholders

For more details about Stockholders, click here:

brainly.com/question/13142622

#SPJ1

7 0
2 years ago
In a ________ computing model, companies use their own infrastructure for essential computing tasks and adopt public cloud compu
wel

Answer:

vfgfbgn hmvbncg bvc bnvcb nbvbv

Explanation:

3 0
3 years ago
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