Answer:
$36,000
Explanation:
The first step is to calculate the equivalent unit of work in process
=degree of completion × ending work in process
= 40/100 × 3000
= 0.4 × 3000
= 1,200
The total equivalent units of production can be calculated as follows
= 21,000 + 1,200
= 22,000 units
The cost per equivalent unit can be calculated as follows
= 660,000/22,000
= $30
Therefore the cost of ending work in process can be calculated as follows
= equivalent unit × cost per equivalent unit
= 1,200 × 30
= $36,000
Answer:
Explanation:
To find the income elasticity we first must recall the formula
which is the percentage change in quantity when income increases in one percent.
From the demand curve we can find 
by taking derivative of Q with respect to Y: 
Next we need to know what is the income at the equilibrium quantity of 1300, which we can back out from the data given in the question
Then
Answer:
The correct answer is D
Explanation:
Third Degree Price Discrimination is the kind of the discrimination, which occurs when the company charges a different price to the different groups of consumers.
For example, the movie cinema or theater might divide or categorize the moviegoers into children, seniors and adults, while each of them will pay a different price when watching the same movie.
So, in this case, that the residential customers are charged higher prices to industrial customers, which is an example of third degree price discrimination.
Answer:
Dr cash $660,000
Cr bonds payable $660,000
Dr interest expense $ 39,600.00
Cr interest payable $39,600.00
Explanation:
The issue of the bonds at face value implies that cash proceeds equal the face value of $660,000 which is then debited to cash account and credited to bonds payable.
The interest due on the bonds on 31st December payable on 1st January 2021 =face value*coupon rate
face value is $660,000
coupon rate is 6%
interest=$660,000*6%=$39,600.00
