Answer:
Cost of units completed = $176,528
Workings are attached:
Explanation:
Equivalent unit of production
An equivalent unit of production is an expression of the amount of work done by a manufacturer on units of output that are partially completed at the end of an accounting period. Basically the fully completed units and the partially completed units are expressed in terms of fully completed units.
Equivalent units are used in the production cost reports for the producing departments of manufacturers using a process costing system. Cost accounting textbooks are likely to present the cost calculations per equivalent unit of production under two cost flow assumptions: weighted-average and FIFO.
Conversion costs
Conversion costs is a term used in cost accounting that represents the combination of direct labor costs and manufacturing overhead costs. In other words, conversion costs are a manufacturer's product or production costs other than the cost of a product's direct materials.
Expressed another way, conversion costs are the manufacturing or production costs necessary to convert raw materials into products.
The term conversion costs often appears in the calculation of the <u>cost of an</u> <u>equivalent unit in a process costing system.</u>
For the sake of this question, we will be determining the <u>equivalent units of production:</u>
- Units completed and transferred subject to material and conversion costs
- Units in the closing inventory subject to material and conversion costs
- We will then calculate the cost per units with respect to material and conversion costs for the equivalent units.
- These cost per units will enable us to determine the cost of items completed.
Answer:
(E)
Explanation:
Referent power is effective in any form of business activity. It is something which inspires the employees and to see their managers as a role model. In the above example, my supervisor has referent power over me because I consider him my role model. Some supervisors have certain interpersonal skills which help them to become a role model and a good manager.
Answer:
$1400
Explanation:
Accumulated depreciation is the total depreciation of an asset and is recorded on the balance sheet while the depreciation expense is recorded on the income statement as an expense.
The depreciation expense is the difference between the accumulated depreciation at the end and the accumulated depreciation at the beginning. It is given as:
Depreciation expense = accumulated depreciation at the end - accumulated depreciation at the beginning = $10700 - $9300 = $1400
Depreciation expense = $1400
Fred will either have to pay more than he proposed or Barney would be able to open his business in the same city
Answer:
8.13%
Explanation:
Annual return = [ (Total FV/Initial investment)^(1/n) ] -1
n = useful life of the project
Total Future Value = (22650*5) +5000
Total FV = $118,250
Initial investment = $80,000
Annual return = [ (118,250/80,000)^(1/5) ] -1
r = [ (1.478125^(1/5)] -1
r = 1.0813 - 1
r = 0.0813 or 8.13%
