Answer:
This method of allocation, called first come, first served, is often used to distribute cheap tickets to rock concerts, sporting events, movies, and many other events. The first come, first served method does a fairly good job of allocating tickets to the people who want to see the show the most.
Answer:
Cobe Company
Analysis statement
sell as pocess further
<u>Sales:</u>
product B (5,600*$105) $588,000
product C ( 11,200*$70) <u> 784,000</u>
1,372,000
<u>Relevant Cost :</u>
manufacturing cost (28,000*28) 784,000
Additional cost <u>420,000 1,204,000</u>
Income <u>168,000</u>
<em>The incremental net income is $168,000.</em>
<em>Therefore, the company should process further before selling the product</em>
Explanation:
Answer:
4. should consume less of X and more of Y.
Explanation:
Marginal Utility is defined as the satisfaction that an individual gains after consuming additional units of a certain goods or services.
In the given scenario there are two products X and Y. The price of X is higher than Y. The product X takes more time to consume than of product Y. The consumer should make a combination to maximize its marginal utility. The time to consume a unit worth $2 per hour therefore the consumer should focus consuming more of Y and less of X to save its time to consume the unit which will result in maximizing its marginal utility.
Answer:
Explanation:
We know that
The balance sheet items classify the assets and liabilities in the categorized balance sheet into various types Including assets are divided into fixed assets, current assets, and intangible assets.
Liabilities are likewise divided into current liabilities, long-term liabilities The accounting equation is used in any balance sheet which means
Total assets = Total liabilities + shareholder equity
And, the income statement reports only total revenues and total expenses
So, the categorization is shown below:
a. Accounts receivable = Current asset
b. Accounts payable = Current liabilities
c. Cash = Current asset
d. Fees earned = Revenue shown in the income statement i.e reflected in owner's equity
e. Land = Fixed asset
f. Rent expense = Expense shown in the income statement i.e reflected in owner's equity
g. Supplies = Current asset
<u>Solution and Explanation:</u>
<u>Firstly, there is need to calculate the units that are completed and have been transferred out</u>
Unit completed and transferred out =
Now, Equivalent unit are to be find out. The following table represents the equivalent number of units.
Material Labor and overhead
Beginning work in process
Unit started and
completed (411000-51000) 360000 360000
Ending work in process 26000
Equivalent unit of production 386000 393400