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Veseljchak [2.6K]
2 years ago
6

A company uses the weighted-average method for inventory costing. At the end of the period, 16,000 units were in the ending Work

in Process inventory and are 100% complete for materials and 71% complete for conversion. The equivalent costs per unit are materials, $2.61, and conversion $2.20. Compute the cost that would be assigned to the ending Work in Process inventory for the period.
Business
1 answer:
oee [108]2 years ago
7 0

Answer:

$66,752

Explanation:

The computation of ending Work in Process inventory is shown below:-

For Material = 16,000 × 100%

= 16,000

For conversion = 16,000 × 71%

= 11,360

Cost of ending inventory = (Material × Material cost per unit) + (Conversion × Conversion cost per unit)

= (16,000 × $2.61) + (11,360 × $2.20)

= $41,760 + $24,992

= $66,752

Therefore for computing the cost of ending inventory we simply applied the above formula.

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Shroden is a consumer goods manufacturer. It manufactures cookies, batteries, toothpaste, and soap. In the context of operations
Ray Of Light [21]

Answer:

inventory

Explanation:

Every item that is produced or purchased by the business in order to resell it and earn profit through it as a normal purpose of business, is considered as inventory.

In the given instance, Shroden manufactures consumer goods, like cookies, batteries, etc:

And since he targets to sell them and earn profit, all these manufactured products is the inventory of his business.

3 0
3 years ago
Anna Jonas owns a manufacturing firm in Indonesia and strongly believes that it is important that​ workers' rights be respected.
Lisa [10]

Answer: cognitive dissonance

               

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Inconvenience is caused by an individual's belief that conflicts with new interpreted proof (statistics) in which they attempt to take steps to address the inconsistency in order to minimize their distress.

In simple words, The concept behind cognitive dissonance shows that people find psychological continuity regarding their life span and the earth's objective reality.

8 0
3 years ago
Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling pri
natta225 [31]

Answer:

inventory value=$ 377,000.00  

Explanation:

In applying the rule of the lower cost of cost or net realizable value,we compare NRV(selling price minus cost to sell) with the replacement cost(current price), where the lower of the two is then compared against the original cost of the inventory item as done in the attached.

Value of inventory=$120,000+$126,000+$90,000+$41,000=$377,000.00  

 

Download xlsx
8 0
3 years ago
Cost of Goods Sold account is debited and Finished Goods Inventory is credited for A) purchase of goods on account. B) the sale
Firlakuza [10]

Answer:

B) the sale of goods to a customer.

Explanation:

When goods are sold to a customer, the cost of goods sold account is debited by the same value that the finished goods inventory is credited.

For example, suppose a company sells $1,000 worth of goods to a customer, and the sales price is $1,200. The customer pays by cash the full value of the goods. The journal entry would be:

Account                                    Debit           Credit

Cash                                         $1,200

Sales Revenue                                             $1,200

Cost of Goods Sold                $1,000

Finished Goods Inventory                           $1,000

7 0
3 years ago
Gantner Company had the following department information about physical units and percentage of completion: Ch21_Q64 If material
Basile [38]

Answer:

200,000 units

Explanation:

The computation of the total no of equivalent units for material during may month is given below:

Units added during May is

= 150,000 + 50,000

= 200,000 units.

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The same should be considered and relevant  

6 0
2 years ago
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