1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
inna [77]
3 years ago
7

The following partially completed process cost summary describes the July production activities of Ashad Company. Its production

output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning goods in process inventory is 20% complete with respect to direct labor and overhead.
Equivalent units of production Direct Materials Direct Labor Factory Overhead
Units transferred out 122,000 122,000 122,000
Units of ending goods in process 19,000 13,300 13,300
Equivalent units of production 141,000 135,300 135,300
Costs Direct Materials Direct Labor Factory Overhead
Costs of beginning goods in process $38,600 $1,480 $2,960
Costs incurred this period 751,000 133,820 267,640
Total costs $789,600 $135,300 $270,600
U
nits in beginning goods in process (all completed during July): 8,000

Units started this period: 133,000

Units completed and transferred out: 122,000

Units in ending goods in process: 19,000

*Prepare its process cost summary using the weighted-average method.
Business
1 answer:
Gelneren [198K]3 years ago
4 0

Answer:

Explanation:

We solve this prblem in three steps    

   

Step#1    

In this step we will prepare the summary of units produces and trasffered and units in closing stock    

   

   

Opening units  8000  

Started                133000  

                            141000  

Transffered           122000  

Closing                       19000  

Step#2

We will prepare production and cost table, total cost will be divided by the total units produced to identify the cost per unit  incurred on material, labor and overheads.

Cost      opening   Current    Total      Complete  Closing  Equiv.      Cost

Head       Cost        Cost        Cost          units          WIP      Units     Per unit

Material  38,600  751,000   789,600   122,000    19,000  141,000  5.6000  

Labor     1,480      138,820    140,300   122,000    13,300 135,300  1.0370  

O.H       2,960      267,640   270,600  122,000    13,300  135,300  2.0000  

Step-3      

In this process we will calculate the cost incurred during the period.      

   

   

Complete  122,000   8.64   1,053,708  

   

Closing Wip    

   

Material    19,000   5.60            106,400  

Labor              13,300   1.04            13,792  

Overheads  13,300   2.00            26,600  

                                            146,792  

   

Total Cost                             1,200,500  

You might be interested in
Alternative A would involve substantial fixed but relatively low variable costs: fixed costs would be $250,000 per year, and var
stepladder [879]

Answer:

From zero to 33 boats option B would be best

Explanation:

Assuming the first alternative (A)is 250,000 fixed and 500 per boat

second (B) 2,500 cost per boat

and third (C) 50,000 fixed and 1,000 cost per boat

We want' to know at which level B would be the best option

we want to know when alternative C or A have a cost of 2,500 or lower:

A:

500 + \frac{250,000}{Q} = 2,500

\frac{250,000}{2,500 - 500} = Q

Q = 125

From this point, as fixed cost will be distribute among more units, the cost will decrease meaking C better than B

C:

1,000 + \frac{50,000}{Q} = 2,500

\frac{50,000}{2,500 - 1,000} = Q

Q = 33.33

From this point, as fixed cost will be distribute among more units, the cost will decrease meaking A better than B

From zero to 33 boats option B would be the best of the three options

6 0
3 years ago
What is something economists need to know the least in order to effectively fine tune the economy?
Art [367]
<span>b. the cpi is what the economists need to know the least.
CPI stands for Consumer Price index which measures the change in price level based on the goods and services purhased by consumers. The Costumer price Index will not affect the economic situation because it only calculate the </span><span>measurement of the price changes of a basket of goods over time.</span>
6 0
3 years ago
Tim wrote a negotiable note. Subsequently, Tim's debts were discharged in bankruptcy. If a holder in due course presents the not
fomenos

Answer:

TRUE

Explanation:

Bankruptcy is a legal framework, in which borrowers who cannot pay their loans, may seek relief from all of their liabilities from individuals or other organizations. In most states, a judge's order mandates bankruptcy.

In this situation, Tim is a bankrupt person, tin wrote a negotiable note but now Tim has got relief from his liabilities, so he has not to pay against his negotiable note.

Therefore, the following situation is TRUE .

5 0
3 years ago
The most recent financial statements for Live Co. are shown here: Income Statement Balance Sheet Sales $4,400 Current assets $4,
hram777 [196]

Answer:

3.88%

Explanation:

ROA = Net income/Total assets

ROA = $972/$16,127

ROA = 0.0602716

ROA = 6.03%

Retention ratio = 1 - Payout ratio

Retention ratio = 1 - 0.38

Retention ratio = 0.62

Internal growth rate = (ROA*Retention ratio) / [1 - (ROA*Retention ratio)]

Internal growth rate = 0.0602716*0.62 / 1 - (0.0602716*0.62)

Internal growth rate = 0.037368392 / 1-0.037368392

Internal growth rate = 0.037368392/0.962631608

Internal growth rate = 0.038818995

Internal growth rate = 3.88%

3 0
3 years ago
What is the reward of entrepreneur​
Diano4ka-milaya [45]

Answer:

As an "entrepreneur" you can make money while doing things you like.

Explanation:

5 0
2 years ago
Other questions:
  • The XYZ Company has just hired you as Production Manager of their North American Fabrication Facility. Your first job is to use
    5·1 answer
  • Josh has been asked to be a part of a new business venture that develops wind energy technologies. since the business involves h
    7·1 answer
  • George operates a business that generated revenues of $51 million and allocable taxable income of $1.26 million. Included in the
    15·2 answers
  • A senator wants to raise tax revenue and make workers better off. A staff memberproposes raising the payroll tax paid by firms a
    14·2 answers
  • True Tomato Inc. makes organic ketchup. To promote its products, this firm decided to make bottles in the shape of tomatoes. To
    9·1 answer
  • Prove you know what diminishing marginal utility is by creating an example of your own. Your example
    7·1 answer
  • What improvement tool would you use to identify all possible reasons for the increase in complaints about the HIM department
    9·1 answer
  • Antoine transfers property with a tax basis of $535 and a fair market value of $652 to a corporation in exchange for stock with
    7·1 answer
  • If your answer is zero, enter "O". a. Under a 2017 divorce agreement, Joan is required to pay her ex-husband, Bill, $2,340 a mon
    15·1 answer
  • The ________ takes into account such costs as deteriorated customer relations and lost sales
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!