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ahrayia [7]
3 years ago
14

Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses proces

s costing, appear below: Materials Conversion Equivalent units in ending work in process inventory 2,040 930 Cost per equivalent unit $ 15.46 $ 5.73 A total of 21,100 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
Business
1 answer:
Bogdan [553]3 years ago
6 0

Answer:

(1) $31,538.4; $5,328.9; $36,867.3

(2)  $326,206; $120,903; $447,109

Explanation:

(1) Cost of ending work in process inventory:

For materials:

= Equivalent units of production in ending work in process × Cost per equivalent unit

= 2,040 × $ 15.46

= $31,538.4

For conversion:

= Equivalent units of production in ending work in process × Cost per equivalent unit

= 930 × $5.73

= $5,328.9

Total = $31,538.4 + $5,328.9

        = $36,867.3

(2) Cost of the units completed and transferred out:

For materials:

= Total units completed and transferred × Cost per equivalent unit

= 21,100 × $ 15.46

= $326,206

For conversion:

= Total units completed and transferred × Cost per equivalent unit

= 21,100 × $5.73

= $120,903

Total = $326,206 + $120,903

        = $447,109

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Answer:

Money multiplier, MM = (1 + Currency-deposit ratio) / (Currency-deposit ratio + Excess reserve ratio + Required Reserve ratio)

(a) Initially,

MM = (1 + 0.25) / (0.25 + 0.05 + 0.10) = 1.25 / 0.4 = 3.125

(b) Currency-deposit ratio = 0.3

MM = (1 + 0.3) / (0.3 + 0.05 + 0.1) = 1.3 / 0.45 = 2.89

(c) Excess reserve ratio rises to which number? MM cannot be computed unless exact number is provided.

7 0
3 years ago
If you think that your bill is wrong, you should first: A. contact the local credit bureau and inform it of the billing error. B
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The answer is A. Contact  the local credit bureau and inform it of the billing error.
3 0
3 years ago
a systematic and independent examination of project procedures, documentation, spending, statutory compliance, and reporting is
7nadin3 [17]

Answer:

Audit

<h3>What is an audit defined as?</h3>
  • Auditing is defined as the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance with requirements.
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7 0
1 year ago
Your uncle has $340,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, star
timama [110]

Answer:

17.27 years

Explanation:

For this question we use the NPER formula that is shown on the attachment below:

Provided that  

Present value = $340,000

Future value = $25,000

PMT = $35,000

Rate of interest = 7.5%

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the number of year is 17.27 years

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The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. . T
Anuta_ua [19.1K]

Answer:

$2,250,000

Explanation:

Preparation for the lower portion of the 2021 income statement

CALIFORNIA MICROTECH CORPORATION

Partial Income Statement

For the Year Ended December 31, 2021

Income from continuing operations before income taxes 7,800,000

Less Income tax expense 1,950,000

(25%*7,800,000)

Income from continuing operations 5,850,000

Discontinued operations:

Loss from operations of discontinued component (4,800,000)

Income tax benefit, 1,200,000

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Loss on discontinued operations (3,600,000)

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Therefore the Net income will be $2,250,000

8 0
3 years ago
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