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aev [14]
3 years ago
15

The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processin

g department. The company's ending work in process inventory on August 31 consisted of 21,200 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.55 for materials and $5.05 for labor and overhead, the total cost assigned to the ending work in process inventory was:
Business
1 answer:
Morgarella [4.7K]3 years ago
6 0

Answer:

Cost of Ending WORK in Process $ 139496

Explanation:

Richmond Corporation

Weighted-Average Method

Ending work in process inventory  21,200 units

<em>First we find the equivalent units in the ending work in process inventory.</em>

Materials = 100% complete = 21200 units

Conversion= 60 % complete = 60% of 21200= 12720 units

<em>Then we multiply the equivalent units of the work in process inventory with the equivalent cost per unit and then add the materials and conversion costs to get the total cost of the ending work in process inventory.</em>

Materials = 21200 * $3.55 = $75260

Conversion = 12720 * $5.05=  $ 64,236

Cost of Ending WORK in Process= $75260+$ 64,236= $ 139496

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Slowly, the medical profession is becoming more concerned with:
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Answer:

consider opening manufacturing companies in each nation

Explanation:

According to my research on different multinational businesses, I can say that based on the information provided within the question Vornado should probably consider opening manufacturing companies in each nation. By doing this and working only in the currency of that nation they can calculate the prices correctly and not take losses because of the exchange rates.

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3 years ago
You Save Bank has a unique account. If you deposit $7,250 today, the bank will pay you an annual interest rate of 4 percent for
MAVERICK [17]

Answer:

$15960.94 is the amount I will have in my account after 17 years.

Explanation:

Firstly we are given the present value of the investment that we will be saving so it will be $7250. we are further given that this investment will be saved during a period of 17 years at different rates through the 17 years so we are looking for the future value after 17 years therefore we will use the future value investment formula as just only one amount is invested.

The future value formula = Fv = Pv(1+i)^n

where Fv is the future value of the investment after 17 years,

Pv is the invested amount initially $7250

i is the interest rate which here it is 4% for the first 5 years, then 4.6%  after for 4 years, thereafter 5.3% for the remaining 8 years so we will.

n is the number of years of the investment as per their given interest rates, substitute these values to the above mentioned formula:

Fv= $7250((1+4%)^5) ((1+4.6%)^4)( (1+5.3%)^8) then compute on a calculator

Fv = $15960.938 then we round off to two decimal places

Fv = $15960.94 which will be the amount that will be saved after 17 years .

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