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Iteru [2.4K]
3 years ago
8

Link Company uses a process cost system and the weighted average method. During the year the company completed 1,300 units of pr

oduct. Ending inventory consisted of 400 units that were 50% complete. The total dollar cost associated with production of inventory was $90,000. The cost per equivalent whole unit would be which of the following
Business
1 answer:
Bumek [7]3 years ago
7 0

Answer:

Cost per equivalent unit: $60

Explanation:

Cost per equivalent unit = (Cost of Beginning Work in Progress Inventory + Total production cost during the period) / Equivalent Units of Production (EUP)

Total Production Cost = $90,000

Equivalent Units of production (EUP) = 1,300 + 400 x 50% = 1,500 units

Cost per equivalent unit: $90,000 / 1,500 units = $60

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Wildcat Co. purchased, on open account, 4,000 pounds of direct materials at a total cost of $20,200. The standard cost of these
Pepsi [2]

Answer:

Explanation:

The pictures attached shows the full explanation

3 0
3 years ago
Regina Henry deposited $20,000 in a money market certificates that provides interest of 10% compound and quarterly if the amount
Andrews [41]

Answer:

Regina: Final amount=$62,769

Will Smith: Present value:  $213,216

Explanation:

Regina:

Compound quarterly means that each quarter of the year ( every three months) she will receive a 10% interest rate of her deposit. To convert this periodic rate to an annual rate( because the problem ask you about years) you use this formula :

Annual rate= ((1+Periodic rate)^(# periods))-1

In this case the number of periods means the number of quarters a year have, which is 4

Annual rate= ((1+10%)^(4))-1= 46.41%

To find the final amount Regina has after 3 year we use this formula:

Final Capital (FC)= Initial Capital (IC)*[(1+interest(i))]^(number of periods(n))

FC= $20,000*[(1+46.41%)^3]

FC=$62,769 I attached an excel figure which shows a more detailed data.

Will Smith

Semiannually means that every 6 months Will Smith will receive a 12% interest rate of the initial investment. To convert this periodic rate to an annual rate you use the same above formula:

Annual rate= ((1+Periodic rate)^(# periods))-1

In each year Will will receive twice the interest rate over the initial investment

Annual rate = ((1+12%)^(2))-1

Annual rate= 25.44%

The present value of $80,000 from now to 5 years is calculated using the formula attached, but I used Excel. First you have to copy all the cash flows of the 5 years. Then, you set the interest rate that in this case is the one that you found above( 25.44%). Finally you use the financial formula "NPV" in this way:

"=NPV(25.44%;C4:C8)" I used C4:C8 because in those excel cells i copied the cash flows.

I got that the present value of this amount is $213,216

5 0
3 years ago
In 2020, the Merkel Company had revenues of $2,600,000 and costs of $2,100,000. During 2021, Merkel will be introducing a new pr
Leona [35]

Answer:

$88,000

Explanation:

We know that

The operating profit = Revenues - cost

                                  = $2,600,000 - $2,100,000

                                  = $500,000

If there is increase, so the operating profit would be

= Revenues - cost

where

Revenues = $2,600,000 + $260,000

                 = $2,860,000

Cost = $2,100,000 + $172,000

        = $2,272,000

So, operating profit is

= $2,860,000 - $2,272,000

= $588,000

So, the increase in operating profit would be

= $588,000 - $500,000

=  $88,000

6 0
3 years ago
The government unit that wants to achieve "revenue enhancement" will find it considerably more favorable to enact an excise tax
boyakko [2]

Answer:

C. highly inelastic

Explanation:

An excise tax on a product will increase its price from the equilibrium point, to a higher point set by the government.

If the government was to enhance its revenue by this means, it should enact the excise tax on products that are highly inelastic.

This is because a highly inelastic product is one whose quantity demanded does not fall considerably even if the price rises a lot.

This means that even if the product is more expensive after the excise tax, consumer will continue to buy it, increasing government revenue in this way.

6 0
3 years ago
A company completes 21,000 units this month and has ending goods in process inventory of 3,000 units which are estimated to be 4
Artyom0805 [142]

Answer: $36,000

Explanation:

First calculate the Equivalent Units of Production;

= 21,000 + (3,000 * 40%)

= 21,000 + 1,200

= 22,200 units

Then find the cost of each units.

= Total production cost/ Equivalent units of production

= 666,000/22,200

= $30 per unit

Then the cost of ending Goods in Process Inventory is:

= Equivalent ending process inventory units * cost per unit

= 1,200 * 30

= $36,000

6 0
2 years ago
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