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harkovskaia [24]
3 years ago
15

Weighted Average Method, Unit Cost, Valuing Inventories Applegate Enterprises produces premier raspberry jam. Output is measured

in pints. Applegate uses the weighted average method. During January, Applegate had the following production data: Units in process, January 1, 60% complete 156,000 pints Units completed and transferred out 700,000 pints Units in process, January 31, 40% complete 200,000 pints Costs: Work in process, January 1 $156,000 Costs added during January 624,000 Required: 1. Using the weighted average method, calculate the equivalent units for January. equivalents units 2. Calculate the unit cost for January. Round your answer to the nearest cent. $ per unit 3. Assign costs to units transferred out and EWIP. Cost of goods transferred out $ Ending work in process (EWIP) $
Business
1 answer:
iris [78.8K]3 years ago
3 0

Answer:

1. 780,000 pints

2. $1

3. $780,000

Explanation:

1. The computation of the equivalent units of production is shown below:

= Units completed and transferred out + completed units in ending inventory  × completion percentage

= 700,000 pints + 200,000 pints × 40%

= 780,000 pints

2. The computation of the unit cost for January month is shown below:

= (Beginning Work in process + Costs added during January) ÷  equivalent units

= ($156,000 + $624,000) ÷ (780,000 pints)

= $1

3. The computation of the assigned units is shown below:

= Units completed and transferred out × unit cost + completed units in ending inventory  × completion percentage × unit cost

= 700,000 pints  × $1 + 200,000 pints × 40% ×$1

= $780,000

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Answer:

It will be between $1.00 and $ 1,20

Explanation:

Solution

Given:

From the given question, the price of a flax seed in west Virginia is presently at $1.00

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6 0
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Answer:

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Explanation:

Cash flow Financing activities are the funds that the business acquire or paid to finance its main activities, these involve borrowing and repaying short-term loans, long-term loans and other long-term liabilities.

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7 0
3 years ago
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Option D

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the factor which determines whether or not goods should be included in a physical count of inventory is
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Answer is : legal title


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a. legal title.
b. whether or not the purchase price has been paid.
c. management's judgment.
d. physical possession.


a. legal title
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Answer:

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