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Fofino [41]
3 years ago
10

The following information is available: Units in process, Dec. 1 (60 percent converted) 2,000 units Units in process, Dec. 31 (5

0 percent converted) 1,000 units Units started during the month 7,500 units Materials are added at the beginning of the process. How many equivalent units in process for conversion were there in December
Business
1 answer:
Veseljchak [2.6K]3 years ago
5 0

Answer:

Explanation:

<u>UNITS TO ACCOUNT FOR</u>:    

Beginning Work in Process units                                      2,000

Add: Units Started in Process                                      7,500

Total Units to account for:                                              9,500

<u>Equivalent Units</u>:    

                                                                UNITS                   Conversion cost

                                                                            % Completion      Units

Units completed                           8500 100%             8,500

Ending Work in Process                   1000 30%                        300

Total Equivalent units                           9500                      <u>8,800 </u>

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Answer:

The correct answer is (d)

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If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium pri
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Answer:

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Since a part of the law of supply states that the lower the quantity supplied, the higher the price; a reduction in the supply of the life-saving medicine will increase its price.

The combining effect of the two above will lead to an increase in the equilibrium price while the equilibrium quantity will remain the same as it will not respond to the change in price.

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