1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
8_murik_8 [283]
3 years ago
15

Production records show that there were 440 units in the beginning inventory, 30% complete, 1,440 units started, and 1,600 units

transferred out. The beginning work in process had materials cost of $2,220 and conversion costs of $1,720. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.a) How many units are in process at May 31?(b) What is the unit materials cost for May?(c) What is the unit conversion cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.)
Work in Process�Painting

5/1 Balance 3,940 5/31 Transferred out ?

5/31 Materials 6,610

5/31 Labor 4,800

5/31 Overhead 1,300

5/31 Balance ?
Business
1 answer:
Nimfa-mama [501]3 years ago
8 0

Answer and Explanation:

The computation is shown below:

a. The number of units processed is

= Beginning work in process units + completed and started units - transferred out units

= 440 units + 1,440 units - 1,600 units

= 280 units

b. The material cost per unit is

= Total cost ÷ equivalent units

where,

Total cost is

= Opening work in process + material cost

= $2,220 + $6,610

= $8,830

And, the equivalent units is

= Units transferred out + ending work in process

= 1,600 + 280

= 1,880

So, the material cost per unit is

= $8,830 ÷ 1,880 units

= $4.70

c. The conversion cost per unit is

= Total cost ÷ equivalent units

where,

Total cost is

= Opening work in process + labor cost + overhead cost

= $1,720 + $4,800 + $1,300

= $7,820

And, the equivalent units is

= Units transferred out + ending work in process × completion percentage

= 1,600 + 280 × 40%

= 1,712

So, the material cost per unit is

= $7,820 ÷ 1,712 units

= $4.57

You might be interested in
Fortune Enterprises is an all-equity firm that is considering issuing $13.5 million of perpetual debt. The interest rate is 10%.
Nuetrik [128]

Answer:

d. Debt holders get $0 mil. under the unlevered plan vs. 0.6075 mil. under the levered plan

Explanation:

interests paid to debt holders = $13,500,000 x 10% = $1,350,000

generally, interest revenue is taxed as ordinary revenue = corporate income tax rate (if debt holder is a business) or personal income tax (if debt holder is an individual).

under the first plan, debt holders get nothing because there is no outstanding debt since the company is an all equity firm.

under the second plan, if the personal tax rate on interest income is 55%, which is really high, the debt holders will earn $1,350,000 x (1 - 55%) = $607,500

8 0
3 years ago
Suppose that the United States has an absolute advantage over Mexico in producing both agricultural and manufactured goods. In t
irina [24]

Given the above scenario, the total production in the U.S. and Mexico will be maximized if Mexico focuses on Agricultural produce and the US on Manufactured produce.

<h3>What is product maximization?</h3>

Product maximization refers to the process via which two trading nationalities or entities focus on the goods where they have the least opportunity cost.

Thus, n this case,  the total production in the U.S. and Mexico will be maximized if Mexico focuses on Agricultural produce and the US on Manufactured produce.

Learn more about Product Maximization at;
brainly.com/question/4171648
#SPJ12

7 0
2 years ago
When is a bond's par value generally repaid?
mote1985 [20]
At maturity.........................
7 0
3 years ago
Read 2 more answers
Which factor places this nation in the transitioning<br> category?
lys-0071 [83]

Answer: B. It is shifting from a planned to a free-market economy.

Explanation:

5 0
3 years ago
On January 2, 2022, McClelland Company purchased a machine and signed a noninterest-bearing note in payment. The note matures in
tresset_1 [31]

The amount that McClelland Company should record the machine upon purchase is<u> $56,505.</u>

<h3>Recording the transaction</h3>

The proper way to record the transaction based on U.S. GAAP polices is to debit the Machine account with the price of $56,505 as this represents the market value of the machine.

The company should also credit the Notes payable account with $70,000 being the value of the note acquired. A debit will go to the Discount on Note account for $13,495 which is the difference between the note and value of machine.

Find out more on recording Notes Payable at brainly.com/question/17073934.

6 0
2 years ago
Other questions:
  • Which of the following is a characteristic of a partnership? a.The partners have limited liability. b.The partnership is subject
    11·1 answer
  • ________ are transacted between international businesses and their banks, between banks, and between governments when it is desi
    12·2 answers
  • An investment project is expected to generate earnings before taxes (EBT) of $60,000 per year. Annual depreciation from the proj
    13·1 answer
  • If the sides market (betting on a team against the point spread) for NFL football betting is semi-strong form efficient, what do
    11·1 answer
  • Robert Klassen​ Manufacturing, a medical equipment​manufacturer, subjected 90 heart pacemakers to 5,000 hours of testing. Halfwa
    14·1 answer
  • Samuel, Inc. has Accounts Receivable of $110,000 and an Allowance for Doubtful Accounts of $17,000. If it writes-off a customer
    10·1 answer
  • Explain what would happen if there was safety issue of renting the apartments
    8·1 answer
  • After hearing an announcement made by a major soft-drink company, the APCS Soft Drink Company has decided to hire you to write a
    6·1 answer
  • Which of the following management orientations holds that each country in a global marketplace is unique?
    6·1 answer
  • Nick and Matt are the partners in a local health food store. They
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!