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VMariaS [17]
3 years ago
11

The following information is provided by Adametz​ Company: WIP​ Inventory, January 1 0 units Units started 7 comma 600 Units com

pleted and transferred out 3 comma 300 WIP​ Inventory, December 31 4 comma 300 Direct materials ​$15,500 Direct labor ​$18,400 Manufacturing Overhead ​$9,000 The units in ending WIP Inventory were​ 90% complete for materials and 84​% complete for conversion costs. At the end of the​ year, what are the equivalent units for conversion​ costs?
Business
1 answer:
nikklg [1K]3 years ago
7 0

Answer:

The equivalent units for conversion​ costs= 6,912 units

Explanation:

<em>The weighted average method of valuation would be used to determine the the equivalent units for conversion​ costs</em>

<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked. </em>

Equivalent unit = Degree of completion × Units of inventory

<em>Items                                       units                                    Equivalent unit</em>

Completed   unit                     3,300       3,300× 100 =       3.300

Closing work in progress       4,300        4,300×  84%=      <u>3,612 </u>

Total equivalent units                                                           <u>6,912 </u>

The equivalent units for conversion​ costs= 6,912 units

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B. $300,000

Explanation:

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3 years ago
The substitution effect of an increase in the price of Raisin Bran refers to Select one: a. the decrease in the demand for Raisi
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Answer:

the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.

Explanation:

the substitution effect arises when as a result of a rise in the price of a good, the good becomes more expensive relative to its substitutes. Consumers not consume less of the good and more of the substitute. This leads to a movement up along the demand curve for that goods and not a movement along the demand curve for the good and not a shift of the demand curve.

If the price of the good increases. The good becomes cheaper when compared with substitutes. As a result, the demand for the good increases while that of the substitutes decreases.

The income effect is when an increase in price lowers consumer's purchasing power, holding money income constant.

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2 years ago
Choose the correct alternative regarding tax revenue:
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The correct alternative regarding tax revenue:

<u>B-Personal income tax is currently the largest source of government revenue in South Africa.</u>

<u>Direct </u><u>Taxes</u>

  • it is levied on earnings and activities conducted.
  • the burden of tax cannot be shifted in case of direct tax.
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<u>Indirect </u><u>Taxes</u>

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1 year ago
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When the money market is drawn with the value of money on the vertical axis, if the Federal Reserve buys bonds, then the money s
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The money supply curve portraits the money supplied in the market at a specific interest rate. The money supply is increased by the central bank by purchasing bonds or other assets -in this case, the Federal Reserve- causing the money supply curve more to the right which at the same time lowers the interest rate.

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