The equivalent units for the month for the first department for material is 48,000 and for labor and overhead 46000.
What is the weighted average ?
- One of three methods for valuing the stock in your company's inventory is the weighted average cost method, which establishes the average cost of all the products in your inventory based on their individual costs and the quantity of each item that is kept on hand.
- The weighted average is used by businesses to calculate the amount that goes into inventory and the cost of products sold (COGS).
- Due to the variety of inventory stock kinds or the same stock items being purchased at various times, a firm may pay varying costs when purchasing pieces of inventory.
Total units transferred = 42000
and, units of ending WIP = 6000(material), 4000(Labor), 4000(overhead)
So,
Equivalent units of production = 48000(material), 46000(Labor), 46000(overhead)
The equivalent units for the month for the first department for material is 48,000 and for labor and overhead 46000.
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Answer:
Dr Bond investment $50,000
Cr cash $50,000
Dr cash $1,250
Cr interest revenue $1,250
Dr cash $50,000
cr bond investment $50,000
Explanation:
On July 1 2019,Red company would have parted with cash of $50,000 which means that cash account should be credited with $50,000 while bond investment account is debited with same amount
On receipt of first interest payment of $1,250 (5%*$50,000*1/2) cash is debited with $1,250 while interest revenue is credited with the same amount.
Upon receipt of face value at redemption,the journal entry would be opposite of the initial one
Answer:
The master budget should only be prepared by top management.
Explanation:
A budget is an estimation of the amount of money that a person or business plans to spend on activities within a given period.
Budgeting creates efficiency in spending and reduces waste.
It is an activity that should be carried out by all relevant staff. This is because the staff know where they need to spend money.
It top management independently make a budget, it may not meet some pressing needs of the staff.
The type of communication illustrated is A) intrapersonal
In service sector industry would customers evaluation of employee performance be the most useful.
This activity happens in the service sector industry, where customers evaluate the employee performance. When positive reviews are shared then this boosts staff morale.
So seeing this their actions have a beneficial impact on the lives of the customers can be very motivating. So, to gain real-world knowledge of how your employee and organization is viewed by your customer, the best advantage is securing customer evaluation.
Hence, without this knowledge, you will have little proof that your internal human resources controls affect the business, either negatively or positively.
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