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lawyer [7]
3 years ago
8

In a department, 28,000 units are completed and transferred out and 14,400 remain in ending WIP at 85% complete. If an equivalen

t unit costs $8.00 for direct materials, what is the value of materials transferred out?
Business
1 answer:
Zigmanuir [339]3 years ago
8 0

Answer:

The value of materials transferred out is $224,000

Explanation:

The condition for the units for transferred is that they must have been completed 100% with respect to equivalent unit cost,hence the materials transferred out should be valued at full $8.00 per direct material.

The value of materials transferred out=28,000*$8.00

                                                              =$224,000

The value of WIP=$8.00*85%*14,400

                           =$97,920

The closing WIP of $97920  would be the beginning inventory in production next period an would ultimately form part of materials completed and transferred next period.

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Suppose that, in a competitive market without government regulations, the equilibrium price of milk is $2.50 per gallon. Complet
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Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Price ceiling:-This is show the limit of the price on maximizing value of the product which is decided by government and his imposed group for customer.

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Unbinding:-The unbinding price ceiling is above equilibrium price.  

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Unbinding:-The unbinding price floor is below the equilibrium price.

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3 years ago
Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 30 billion bottles of wine were sold ev
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Answer:

The amount of the tax on a bottle of wine is $5 per bottle. Of this amount, the burden that falls on consumers is $3 per bottle, and the burden that falls on producers is $2 per bottle. True or False: The effect of the tax on the quantity sold would have been larger if the tax had been levied on producers.

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The amount of the tax on a bottle of wine is $5 ($3 + $2).

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The burden on producers is $2 ($6 - $4) which represents the difference between before-tax selling price and the after-tax selling price for the producers.  This means that the burden passed to producers is $2 out of the total tax burden of $5.

If the tax burden were passed to the producers alone, the selling price would have been more than $11 ($6 + 5).  This would have reduced demand for wine as consumers would have been forced to bear the total burden.  This would have made the tax unequitable.  This would have been the case unless demand is inelastic.  That means that the total demanded is not sensitive to price increases.

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