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4 years ago

9. How are industrial goods different from consumer goods? Explain.

Business

1 answer:

Keith_Richards [23]4 years ago

7 0

Answer:

Very glad I got to help you today!

Explanation:

Industrial goods are bought and used for industrial and business use. Consumer goods are ready for the consumption and satisfaction of human wants. While industrial goods are made up of machinery, plants, and raw materials, consumer goods are commodities purchased by a buyer like clothing, food, and drinks.

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Conversion cost per equivalent unit is the combined costs of direct materials and factory overhead.

Maksim231197 [3]

Answer:

False

Explanation:

Cost

This is simply defined as a payment of cash or the commitment to pay cash in the future for revenues purpose. E.g. The cash used to purchase a tractor, is the cost of the tractor.

Conversion costs

This is simply regarded as direct materials, direct labor, and factory overhead costs that can be selected together or grouped together for analysis and reporting. It consist of direct labor in factory overhead costs.

The Equation for Conversion cost is simply = Direct Labor Cost + Manufacturing Overhead Cost.

While the Equivalent Units of Production = Number of Units Transferred to the next department + Equivalent Units in Ending Works in Process Inventory.

The equation for Equivalent units of production for conversion cost is given below: Units completed and transferred out + Equivalent units in ending work in process for conversion cost.

The equation for Cost per equivalent unit for conversion cost is simply =

(conversion cost of beginning work in process + conversion cost added during the period)/ Equivalent units of production for conversion cost.

8 0

3 years ago

A local dental partnership has been liquidated and the final capital balances are: Atkinson, capital (40% of all profits and los

Margarita [4]

Answer:

Cash distribution

Atkinson $20,000

Kaporale $0

Dennsmore $0

Rasputin $0

Explanation:

Computation of what should happen if Rasputin contributes additional cash of $20,000 to the partnership

Atkinson Kaporale Dennsmore Rasputin

Reported balances

$70,000 $30,000 $(42,000) $(58,000)

Capital contribution$0 $0 $0 $20,000

Adjusted balances

$70,000 $30,000 $(42,000) $(38,000)

Potential loss from Dennsmore and Rasputin(42,000+38,000=80,000) split on a 4:3 basis

(45,714) (34,285) 42,000 38,000

Adjusted balances

$24,286 $(4,285) $0 $0

Potential lossfrom Kaporale ($4,285)

(4,285) 4,285 $0 $0

Cash distribution $20,000 $0 $0 $0

Calculation for the potential loss

Potential loss from Dennsmore and Rasputin(42,000+38,000=80,000) split on a 4:3 basis

Dennsmore(4/7×80,000)= 45,714

Rasputin (3/7×80,000)=34,285

Therefore what should happen if Rasputin contributes additional cash of $20,000 to the partnership is that Atkinson will have cash of $20,000, Kaporale $0 , Dennsmore $0 and Rasputin will have cash of $0

3 0

3 years ago

you are shopping an order but, upon your attempt to deliver you find that the member does not seem to be home and they are not r

Bad White [126]

Send a email or leave it at the door

6 0

4 years ago

Analyse and discuss the term ‘buyer motivation', in relation to innovative banking products and services.

yaroslaw [1]

Answer: Buyer motivation could be described as factors(mind related) that are behind a customer's decision of purchasing an item.

Explanation:

Buyer motivation could be described as factors(mind related) that are behind a customer's decision of purchasing an item. Every customer buying an item will consider a lot of things before getting one, although this varies compared to other person's. Some may buy out of a need, others a want, some panic buy. They all vary. Buying is more of a physiological thing than any other thing.

7 0

3 years ago

If total assets increased $150,000 during the year and total liabilities decreased $60,000, what is the amount of owner’s equity

klasskru [66]

Answer:

$710,000

Explanation:

The computation of the owner’s equity at the end of the year is given below:

We know that

Accounting equation equals to

Total assets = Total liabilities + owners equity

where,

Total assets = $800,000 + $150,000 = $950,000

And, the total liabilities = $300,000 - $60,000 = $240,000

So, the owners equity at the end of the year would be

= $950,000 - $240,000

= $710,000

8 0

3 years ago