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trasher [3.6K]
3 years ago
7

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the

first processing department consisted of 1,600 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,900 65% Conversion costs $ 8,000 45% A total of 8,900 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 126,700 Conversion costs $ 208,200 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:
Business
1 answer:
Effectus [21]3 years ago
4 0

Answer:

$15.18

Explanation:

We can calculate the Cost Per Equivalent Unit for Material by using following formula:-

Ending Inventory Units = Opening Inventory + Opening Unit -Transferred Unit

= 1,600 + 8,900 - 7,100

= 3,400 units

Equivalent Units for Material = Ending Inventory Units × 50% + Units Transferred and Completed × 100%

= 3,400 × 50÷100 + 7,100 × 100 ÷ 100

= 1,700 + 7,100

= 8,800 Units

Cost Per Equivalent Unit for Material = (During the Month Material Cost Incurred + Opening Material Cost) ÷ Equivalent Units for Material

= ($126,700 + $6,900) ÷ 8,800 Units

= $15.18  

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5 0
3 years ago
Wave Fashions uses standard costs for its manufacturing division. The allocation base for overhead costs is direct labor hours.
horsena [70]

Answer:

B. $ 3,650 U

Explanation:

Wave Fashions

Actual fixed overhead $ 32,000

Budgeted fixed overhead $ 26,000

Allocated fixed overhead $ 28,350

Standard overhead allocation rate $ 6.75

Standard direct labor hours per unit 2.1 DLHr

Actual output 2,000 units

Total Fixed Overhead Variance =  Budget Variance + Volume Variance

                                                 =$ 6000 Unfav - $ 2350 Fav= $ 3650 Unfavorable

Budget Variance = Actual Fixed Overhead- Budgeted Fixed Overhead= $ 32,000- $ 26,000= $ 6000 unfavorable

Volume Variance = Budgeted Fixed Overhead- Allocated Fixed Overhead

Volume Variance= $ 26000-  ( Standard Fixed Overhead Rate * Standard Hours)

Volume Variance= $ 26000-  ( $ 6.75 * 2.1 * 2000)

Volume Variance= $ 26000- 28350 = 2350 favorable

6 0
3 years ago
Todd can afford to pay $390 per month for the next 7 years in order to purchase a new car. The interest rate is 6.8 percent comp
zvonat [6]

Answer:

$26,036.74

Explanation:

Tom is able to pay $390 per month for 7 years. The interest rate is 6.8 %. Tom will pay an equivalent of the present value of a $390 annuity for & years 6.8 per cent

The applicable formula is

PV = P ×  1 − (1+r)−n

                      r

Where PV is the present value

P is 390

r is 6.8% per year or 0.005666

n is 7 year or 84 months

PV = $390 x 1-(1+0.005666)84

   0.00566

PV = $390  x 1- 0. 622133410)

   0.00566

PV =390  x  (0.37786659/0.00566)

PV = $390 x 66.760

PV = $26,036.74

4 0
3 years ago
Which one of the following is correct about variable costing systems?
IgorLugansk [536]

Answer:

C nag sa got ko sa yo yang C DAHIL SA VARIABLE

6 0
3 years ago
When you get hired for a well-paying job, you will most likely view older used cars as complementary goods. normal goods. substi
valentinak56 [21]

When you get hired for a well-paying job, you will most likely view older used cars as<u> inferior goods.</u>

<h3><u /></h3><h3><u>What are inferior goods?</u></h3>

As consumer income rises, customer demand declines for a class of inferior goods. Low-cost alternatives to "normal products," or necessities like food and household supplies, are frequently found in inferior goods. For instance, when someone's wage is cut, they might buy cheaper, poorer things than they would otherwise. When their earnings increases again, they're more likely to buy regular things rather than cheap ones.

The word "inferior" refers to the product's price and perceived worth rather than its quality. The quality may occasionally be inferior to an equivalent standard good, but it may also occasionally be the same. In reality, there are occasions when the only distinctions between regular goods and equal substandard goods are the packaging and price of the goods.

Learn more about inferior goods with the help of the given link:

brainly.com/question/13377225?referrer=searchResults

#SPJ4

5 0
1 year ago
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