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Anon25 [30]
3 years ago
8

Beginning work in process inventory: Units in beginning work in process inventory500 Materials costs$ 7,800 Conversion costs$ 9,

100 Percent complete with respect to materials85% Percent complete with respect to conversion55% Units started into production during the month7,000 Units transferred to the next department during the month6,100 Materials costs added during the month$ 102,700 Conversion costs added during the month$ 184,400 Ending work in process inventory: Units in ending work in process inventory1,400 Percent complete with respect to materials60% Percent complete with respect to conversion50% The cost per equivalent unit for materials for the month in the first processing department is closest to:
Business
1 answer:
Gre4nikov [31]3 years ago
4 0

Answer:

$15.76

Explanation:

beginning WIP 500 units

materials 85% complete, so 15% added during the period (EUP during current month = 75 units)

conversion costs 55% complete, so 45% added during the period (EUP during current month = 225 units)

units started 7,000

units transferred out 6,100

units started and transferred out = 6,100 - 500 = 5,600 (EUP = 5,600 units)

ending WIP 1,400 units

materials 60% complete (EUP = 840 units)

conversion costs 50% complete (EUP = 700 units)

materials cost for the month = $102,700

total EUP for the month = 6,515 units

total cost per EUP for materials = $102,700 / 6,515 = $15.7636 ≈ $15.76

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11111nata11111 [884]

Answer:

An investment readily convertible to a known amount of cash

Explanation:

Cash equivalents are items usually recognized in the balance sheet along with cash (then names Cash and cash equivalent) that are readily or easily convertible to cash at an amount that is measurable.

Examples of cash equivalents include commercial papers, bank certificate of deposit, treasury bills usually with a tenor of 3 months or less etc.

Cash equivalents are assets and help improve the company's liquidity.

6 0
2 years ago
A company sells goods for $150,000 that cost $54,000 to manufacture. Which statement is true? a. The company will recognize sale
kirza4 [7]

Answer:

The correct answer is C

Explanation:

Finished goods are those goods which have been finished or completed through the process of the manufacturing or purchased or bought in the completed form, but not sold yet to the customers.

The finished goods cost or expense is considered to be a asset which is short term in nature, which is expected to be sold in less than a year or period.

So, when the company sold the goods that worth $54,000 to the manufacture for $150,000, this will lead to decrease in the finished goods of the company which worth $54,000.

7 0
3 years ago
Explain the difference between mandatory and discretionary spending? provide an example of each kind of spending"
nataly862011 [7]
Mandatory spending is something that either has, or is strongly urged to be done. Discretionary spending is based on the spenders discretion, if the spender thinks it needs to be spent, then they would do so. Example of mandatory spending would be paying back a loan. Example of discretionary spending would be a good business investment.  Hope this helps!
5 0
3 years ago
The type of distribution error that involves giving average ratings to all employees is called _____. select one:
Nina [5.8K]
The answer is letter a which is central tendency. It is because this is where managers give ratings to their employees or evaluate their employees base on their performances. And usually, they provide a rating to their employees as average because of the given factors that will fall in this decision. It could be because they fall within the rage, which they had provided, having them to have average ratings.
5 0
3 years ago
Data concerning three of the activity cost pools of Salcido LLC, a legal firm, have been provided below: Activity Cost Pool Tota
asambeis [7]

Answer:

Meeting with clients= $175 per meeting hour

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6 0
3 years ago
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