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
melomori [17]
3 years ago
14

Byrd Company decided to analyze certain costs for June of the current year. Units started into production equaled 14,000 and end

ing work in process equaled 2,000 units. With no beginning work in process inventory, how much is the conversion cost per unit if ending work in process was 25% complete and total conversion costs equaled $52,500?
A. $3.28.
B. $4.38.
C. $4.20.
D. $2.10.
Business
1 answer:
Molodets [167]3 years ago
5 0

Answer: Option (C) is correct.

Explanation:

Units Started into the production = 14,000 Units

Ending work in process = 2,000 units

Transferred Units = Units in the starting - Ending work in process

                              = 14,000 units - 2,000 Units

                              = 12,000 Units

Equivalent units = Transferred units + Ending work in process in units × % of Completion

                            = 12,000 Units + 2,000 Units × 25% complete

                           = 12,000 + 2,000 × 0.25

                           = 12,000 units + 500 units

                            = 12,500 units

Total Conversion cost = $52,500

Conversion\ cost\ per\ Equivalent\ unit=\frac{Total\ Conversion\ cost}{Equivalent\ Units}

Conversion\ cost\ per\ Equivalent\ unit=\frac{52,500}{12,500}                                                          

                                                                        = $4.2

You might be interested in
1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchas
marin [14]

Answer:

1. a. Allocated prices

First add the market values = 444,150 + 255,150 + 56,700 + 189,000 = $945,0

00

Building allocated price                                     Land allocated price

= 444,150/ 945,000 * 830,000                        = 255,150/945,000 * 830,000

= $‭390,100‬                                                           = $224,100

Land improvement allocated price                  Four vehicles allocate price

= 56,700/945,000 * 830,000                          = 189,000/945,000 * 830,000

= $49,800                                                        = $166,000

b. Journal entry

Date                 Account Details                             Debit                   Credit

Jan. 1, 2017      Building                                       $390,100

                        Land                                            $224,100

                        Land improvement                     $49,800

                        Vehicles                                      $166,000

                        Cash                                                                         $830,000

2. Depreciation on building using straight-line method.

= (390,100 - 28,000) / 15

= $‭24,140‬

3. Depreciation on land improvements using double declining method.

First do straight line:

= 49,800/ 5 years

= $9,960

Straight line rate of depreciation = 9,960/49,800 = 20%

Double declining will be twice that rate = 40%

Depreciation = 40% * 49,800

= $‭19,920‬

4 0
3 years ago
Sweet Company’s outstanding stock consists of 1,000 shares of noncumulative 5% preferred stock with a $100 par value and 10,000
frutty [35]

Answer:

preferred stockholders received $15,000 during the first 3 years

  • $2,000 in the first year
  • $6,000 in the second year
  • $7,000 in the third year

common shareholders received $25,000 in dividends during the third year.

Explanation:

preferred stock = 1,000 shares x $100 par value x 5% = $5,000

common stock = 10,000 shares at $10 par value

dividends declared and paid during the first 3 years:

year       dividends

1               $2,000

2              $6,000

3            $32,000

preferred stockholders should have received $5,000 per year x 3 years = $15,000. Preferred stockholders must be paid first, and their payment is fixed. If the dividends are not enough to pay the total amount, the remaining amount should be paid next year.

  • $2,000 in the first year
  • $6,000 in the second year
  • $7,000 in the third year

common shareholders received $32,000 - $7,000 = $25,000 in dividends during the third year.

7 0
3 years ago
What is the process of getting a product to a consumer? A. Research B. Distribution C. Wholesale D. Subcontracting
Oxana [17]
I think it b distribution
3 0
3 years ago
Read 2 more answers
What form of welfare gives direct payments to recipients
jonny [76]
Since you provide no options, one of the form of welfare that gives direct payments to recipients is : DPDP
Which stands for Direct payments demonstration Projects

hope this helps

5 0
3 years ago
omparative Income Statement For the Years Ended December 31, 20Y6 and 20Y5 1 20Y6 20Y5 Amount Increase (Decrease) Percentage Inc
ElenaW [278]

Answer:

The question is incomplete. Here is the complete question:

 

Liquidity and Solvency Measures Computations

Current ratio $3,093,000 ÷ $840,000

Working capital $3,093,000 – $840,000

Accounts receivable turnover $8,280,000 ÷ [($714,000 + $740,000) ÷ 2]

Ratio of fixed assets to long-term liabilities $2,690,000 ÷ $1,690,000

Inventory turnover $4,100,000 ÷ [($1,072,000 + $1,100,000) ÷ 2]

Number of days' sales in receivables [($714,000 + $740,000) ÷ 2] ÷ ($8,280,000 ÷ 365)

Number of days' sales in inventory [($1,072,000 + $1,100,000) ÷ 2] ÷ ($4,100,000 ÷ 365)

Times interest earned ($989,400 + $127,000) ÷ $127,000

Ratio of liabilities to stockholders' equity $2,530,000 ÷ $4,077,000

Quick ratio $1,866,000 ÷ $840,000

Profitability Measures Computations

Asset turnover $8,280,000 ÷ [($5,783,000 + $5,593,000) ÷ 2]

Return on total assets ($801,420 + $127,000) ÷ [($6,607,000 + $6,417,000) ÷ 2]

Return on stockholders’ equity $801,420 ÷ [($4,077,000 + $3,873,150) ÷ 2]

Return on common stockholders’ equity ($801,420 – $65,000) ÷ [($3,589,500 + $3,445,920) ÷ 2]

Earnings per share on common stock ($801,420 – $65,000) ÷ 250,000 shares

Price-earnings ratio $35 ÷ $3.05

Dividends per share $175,000 ÷ 250,000 shares

Dividend yield $0.70 ÷ $35

Two of the computations use shares.

Use the following comparative income statement form to enter amounts you identify from the computations on the Liquidity and Solvency Measures panel and on the Profitability Measures panel. Compute any missing amounts and complete the horizontal analysis columns. Enter percentages as decimal amounts, rounded to one decimal place. When rounding, look only at the figure to the right of one decimal place. If < 5, round down and if ≥ 5, round up. For example, for 32.048% enter 32.0%. For 32.058% enter 32.1%.

Comparative Income Statement    

For the Years Ended December 31, 20Y6 and 20Y5

 

1   20Y6 20Y5 Amount Increase (Decrease) Percentage Increase (Decrease)

2 Sales   $7,287,000.00    

3 Cost of goods sold   3,444,000.00    

4 Gross profit   $3,843,000.00    

5 Selling expenses   $1,457,600.00    

6 Administrative expenses 1,242,000.00 1,106,000.00    

7 Total operating expenses   $2,563,600.00    

8 Income from operations   $1,279,400.00    

9 Interest expense   120,600.00    

10 Income before income tax   $1,158,800.00    

11 Income tax expense   181,980.00    

12 Net income   $976,820.00    

Explanation:

Items Computations value

1. Sales: Sales are taken from number of days' sales in receivables or accounts  

receivable turnover ratio, with assuming that all sales are credit sales 8,280,000.00

2. Cost of goods sold:  Cost of goods sold is taken from number of days' sales in inventory or Inventory turnover 4,100,000.00

3. Gross profit:  Gross profit = Sales - Cost of goods sold 4,180,000.00

4. Selling expenses:  Selling expenses = Total operating expenses - Cost of goods sold - Administrative expenses 1,821,600.00

5. Administrative expenses:  available 1,242,000.00

6. Total operating expenses: Total operating expenses = Sales - Income from operations 7163600

7. Income from operations: Income from operations (or is also known EBIT) = Income before income tax + Interest expense 1,116,400.00

8. Interest expense: Interest expense is taken from Times interest earned and Return on total assets 127,000.00

9. Income before income tax: Income before income tax is taken from Times interest earned and Interest expense being specified already 989,400.00

10. Income tax expense: Income tax expense = Income before income tax - Net income 187,980.00

11. Net income: Net income is taken from Return on total assets and Return on common stockholders’ equity 801,420.00

Download docx
4 0
3 years ago
Other questions:
  • Your company currently has par, coupon bonds with 10 years to maturity and a price of . If you want to issue new 10-year coupon
    13·1 answer
  • Describe what an insurance company does and sells without using the word insurance
    10·1 answer
  • A company can gain a cost competitive advantage by:
    7·1 answer
  • Select the correct answer.
    12·2 answers
  • Diversification merits strong consideration whenever a single-business company A. has integrated backward and forward as far as
    14·1 answer
  • The board of commissioners of the city of Jarmaine adopted a General fund budget for the year ending June 30, 2018, which indica
    13·1 answer
  • You have just signed a contract for your rental property and you will make monthly payments at the beginning of each month. Your
    13·1 answer
  • Faughn Corporation has provided the following data concerning manufacturing overhead for July:
    8·1 answer
  • Which sentence in the passage refers to the "analysis" of a given problem?
    7·2 answers
  • Monotheism
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!