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viktelen [127]
3 years ago
9

In a production process new raw materials are considered_____ whereas the finished products are considered______

Business
1 answer:
loris [4]3 years ago
3 0

Answer:

In a production process new raw materials are considered_____ whereas the finished products are considered______

WIP (Work IN Process)

Units for Sale/ Raw Material for other Processes

Explanation:

WIP (Work IN Process)

The raw material in WIP is converted to useful material for other processes.

Work in process consists of materials labor factory overhead or collectively called as conversion costs. In Work in Process these are completed fully or to a certain limit and send to other processes for further work.

Units For sale

Finished goods are ready for sale and send to desired stores or ware houses for storage and further dispatching to retail stores.

Sometimes these units further need servicing or processes in other departments to make a complex unit . In these situations they are considered raw material for other processes.

You might be interested in
Why do companies ask for resume now instead of an application?
xenn [34]

Answer:

A resume includes all your special skills and extracurriculars, whereas an application only includes basic information. Resumes are people's "chance to shine," possibly impressing employers to increase the chances of hiring.

3 0
3 years ago
On April 5, Fenning Corporation, a wholesaler of hydraulic lifts, acquired land in exchange for 30,000 shares of $80 par common
gulaghasi [49]

Answer:

Land A/c Dr $3,360,000

   To Common stock A/c  $2,400,000

   To Additional paid in capital - in excess of par - common stock A/c $960,000

(Being the exchange transaction is recorded)

Explanation:

The journal entry is shown below:

Land A/c Dr $3,360,000

   To Common stock A/c  $2,400,000

   To Additional paid in capital - in excess of par - common stock A/c $960,000

(Being the exchange transaction is recorded)

The computation is shown below:

For land

= 30,000 shares × $112

= $3,360,000

For Common stock

= 30,000 shares × $80

= $2,4000,000

And, the remaining balance is credited to the additional paid in capital account

4 0
3 years ago
Vaughn Manufacturing incurred the following costs for 84000 units: Variable costs $504000 Fixed costs 392000 Vaughn has received
Damm [24]

Answer:

$7.8

Explanation:

Variable costs = $504,000

Fixed costs = $392,000

Number of units produced = 84,000

Shipping charges = $4,500

Therefore, the variable cost per unit is calculated as follows:

= Variable costs ÷ Number of units produced

= $504,000 ÷ 84,000

= $6 per unit

Incremental fixed cost per unit (For 2,500):

= Shipping cost ÷ 2,500

= $4,500 ÷ 2,500

= $1.8 per unit

Therefore, the unit sales price will be the sum total of variable cost per unit and incremental fixed cost per unit for the shipping charges.

BEP (in sales price per unit):

= Variable cost per unit + incremental fixed cost per unit

= $6 + $1.8

= $7.8

4 0
3 years ago
Penguin Island produces two goods: ice and genetically engineered fish. Due to recent technological advances, its economy has ex
Vadim26 [7]

Answer:

1. Point on x-axis will increase and so will the point on the y-axis

2. All of the above

Explanation:

1. The Production Possibilities Frontier shows the amount of resources needed to produce different quantities of two goods. It therefore allows one to see the trade-off in resources for producing more of one good vs the other.

When a factor of production leads to more efficiency in the production of a good, the frontier will increase. In this scenario, there has been a growth in technology which means that more of both goods can be produced. This will increase the PPF on both axis. (Refer to attached file).

2. All of the listed options have led to increases in the standard of living in the last century. More education means people can get better jobs and build more infrastructure. International trade has increased market access and increased wealth. Farm productivity is better so more people can be fed and improvement in technology is the main driver for growth.

4 0
3 years ago
Rent expense in Volusia Company's 2016 income statement is $420,000. If Prepaid Rent was $70,000 at December 31, 2015, and is $9
d1i1m1o1n [39]

Answer:

$445,000

Explanation:

The rent in Volusian company income statement for 2016 is $420,000

The prepaid rent is $70,000 at December 31 2015 and $95,000 at December 31 2016

Therefore the cash paid for rent in 2016 can be calculated as follows

= $420,000+($95,000-$70,000)

= $420,000 + $25,000

= $445,000

5 0
3 years ago
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