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3 years ago

Barnett Corporation uses the weighted-average method in its process costing system. The

Business

1 answer:

Nimfa-mama [501]3 years ago

3 0

Answer:

a. 18,000

b. $5.10

Explanation:

Calculation of the total equivalent units of production for materials

Units of Closing Work In Process (6,000× 100%) = 6,000

Units completed and transferred (12,000× 100%) = 12,000

Total = 18,000

Calculation of the total equivalent units of production for conversion

Units of Closing Work In Process (6,000 × 50%) = 3,000

Units completed and transferred (12,000× 100%) = 12,000

Total = 15,000

Calculation of Total Cost of Materials

Work in process $13,800

Costs added during May $42,000

Total $55,800

Calculation of Total Cost of Conversion

Work in process $ 3,740

Costs added during May $26,260

Total $30,000

Calculation of total cost per equivalent unit for May

Materials ($55,800/18,000) = $3.10

Conversion ( $30,000/15,000) = $2.00

Total = $5.10

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3 years ago

A ___________ jury is one whose members are irreconcilably divided.

elena-14-01-66 [18.8K]

A hung jury is one whose members are irreconcilably divided.
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todd plans to purchase a life insurance policy from a stock life insurance company. What kind of policy is he planning to purcha

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Answer:

The correct answer is B. Nonparticipating policy

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3 years ago

Chase Company has 10 employees, who earn a total of $2,200 in salaries each working day. They are paid on Monday for the five-da

UkoKoshka [18]

The adjusting entry is shown below:

Salaries expense A/c $6,600

To Salaries payable A/c $6,600

(Being salary is adjusted)

The salaries expense is computed by

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= $2,200 × 3 days

= $6,600

The 3 days is computed from Monday to Wednesday

And for correct posting, we debited the salaries expense account and credited the salaries payable account.

<h3>What is Salary Payable and Salary Expense?</h3>

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Since Salaries are an expense, the Salary Expense is debited.

Correspondingly, Salaries Payable are a Liability and is credited on the books of the company.

Learn more about Salary Payable and Expenses on:

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2 years ago

What makes buying a foreclosed property risky? Give at least 2 reasons

Harrizon [31]

Answer: It might be stolen or in conflict.

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4 years ago