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worty [1.4K]
3 years ago
13

Jimmy corporation uses the weighted-average method in its process costing system. the ending work in process inventory consists

of 9,000 units. the ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. if the cost per equivalent unit for the period is $3.75 for material and $1.25 for labor and overhead, what is the balance of the ending work in process inventory account?
Business
1 answer:
dimaraw [331]3 years ago
6 0

Weighted-average method

Materials Labor and Overhead

Ending work in process:

Materials: 20,000 units × 100% 20,000

Conversion: 20,000 units × 70% 14,000

Equivalent units of production in ending work in process 20,000 14,000

Materials Labor and Overhead Total

Ending work in process inventory:

Equivalent units of production (a) 20,000 14,000

Cost per equivalent unit (b) $3.20 $2.00

Cost of ending work in process inventory (a) × (b) $64,000 $28,000

$92,000

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Answer:

Differential cost of Alternative B over Alternative A=$61,600

Explanation:

Differential Cost:

It is the difference in costs if there are more than one alternatives and one alternative is chosen while rejecting the other alternatives.

In order to calculate the differential cost of Alternative B over Alternative A, including all of the relevant costs we first calculate the total cost of both alternatives and then tae the difference.

Total Of Alternative A=Material Cost+Processing Cost+Equipment Rental+occupancy costs.

Total Of Alternative A=$28000+$34000+$11000+$19500=$92,500

Total Of Alternative B=Material Cost+Processing Cost+Equipment Rental+occupancy costs.

Total Of Alternative B=$64000+$34000+$28500+$27600=$154,100

Differential cost of Alternative B over Alternative A=Total Of Alternative B-Total Of Alternative A

Differential cost of Alternative B over Alternative A=$154,100-$92,500

Differential cost of Alternative B over Alternative A=$61,600

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How does the overall economy and it’s various aspects impact your life and finances?
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3 years ago
Suppose the Fed decides it needs to pursue an expansionary policy. Assume people hold no cash, the reserve requirement is 50 per
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Answer:

Because the current money multiplier is <u>2</u>, the Fed would <u>BUY $500,000</u> worth of bonds, <u>INCREASING</u> the monetary base and so increasing the money supply by $1 million.

Explanation:

if the Fed wants to increase the money supply by $1 million, then it would need to purchase US securities worth $500,000. The formulas used to calculate the impact of the Fed's operations are:

increase in money supply = additional funds x money multiplier

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3 years ago
If accounts receivable and inventories increased by $85,000 (total), accounts payable increased by $14,000, and depreciation add
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Answer:

We can't define the firm's net income without additional information as either (1) or (2):

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Operating cash-flow = EBIT  + depreciation - increase of accounts receivable and inventories + increase of accounts payable.

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