How many step in the double entry bookkeeping? *

fields company has two manufacturing departments, forming and painting. the company uses the weighted average method and it repo

UNO [17]

The equivalent units of production for both direct materials and conversion for the forming department is 369,000, 384,000. b. The costs per equivalent unit of production for both direct materials and conversion for the forming department is 4.898, 3.129.

<h3>Equivalent unit of material and conversion</h3>

1. Equivalent unit of material and conversion

Unit transferred out = 34,500+490000-30000

Unit transferred out= 394,500

Equivalent unit of material = 394,500+(30000×85%)

Equivalent unit of material= 369,000

Equivalent unit of conversion = 394,500+(30000×35%)

Equivalent unit of conversion = 384,000

2. Cost per equivalent unit

Material = (56,200+1,800,200)/379,000 = 4.898

Conversion = (22,900+1,179,000)/384,000 = 3.129

3. Total Cost assigned

Cost assignment and reconciliation

Cost of units transferred out

Direct material= (394,500×4.898)

Direct material=1,932,261

Conversion=394,500×3.129

Conversion=1,234,391

Total Cost transferred out=1,932,261+1,234,391

Total Cost transferred out=3,166,652

Cost of ending work in process:

Direct material=(394,500-369,000)×4.898

Direct material=124,899

Conversion=(384,000-369,000)×3.129

Conversion=49,935

Total Cost of ending work in process= 124,899+49,935

Total Cost of ending work in process= 171,834

Hence:

Total Cost assigned=Total Cost transferred out+Total Cost of ending work in process

Total Cost assigned=3,166,652+171,834

Total Cost assigned=3,338,486

Therefore the equivalent units of production for both direct materials and conversion for the forming department is 369,000, 384,000. b. The costs per equivalent unit of production for both direct materials and conversion for the forming department is 4.898, 3.129.

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6 0

1 year ago

Problem 10A specialty coffeehouse sells Colombian coffee at a fairly steady rate of 280 pounds annually. The beans are purchased

SOVA2 [1]

Answer:

The computations are shown below:

Explanation:

a. The computation of the economic order quantity is shown below:

$= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

$= \sqrt{\frac{2\times \text{280}\times \text{\$45}}{\text{\$0.48}}}$

= 229 units

The carrying cost is come from

= $2.40 × 20%

b. Time between placement of orders is

= Economic order quantity ÷Annual demand

= 229 ÷ 280

= 0.8179 years

So,

= 0.8179 × 365 days

= 298.53 days

We assume 365 days in a year

c. The average annual cost of ordering cost and carrying cost equals to

= Holding cost + ordering cost

= (Economic order quantity ÷ 2 × Holding cost) + (Annual demand ÷ Economic order quantity × ordering cost)

= (229 units ÷ 2 × $0.48) + (280 ÷ 229 units × $45)

= $54.96 + $55.02

= $109.98

d) Now the reorder level is

= Demand × lead time + safety stock

where, Demand equal to

= Expected demand ÷ total number of weeks in a year

= 280 pounds ÷ 52 weeks

= 5.38461

So, the reorder point would be

= 5.38461 × 3 + $0

= 16.15 pounds

7 0

3 years ago

In the promotion element of the marketing mix, there are four main areas. Personal selling is direct spoken communication betwee

MAVERICK [17]

Answer: advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.

Explanation: Sales promotion are promotional activities used to stimulate consumers into purchasing a certain product. Sales promotion usually takes the form of giving discounted prices to customers, giving out extra incentive or gift items, freebies, voucher cards, coupon and other promotional offers which gives consumers extra material benefit when they purchase an item. Promotional offers are usually made during certain periods such as festive seasons, company anniversary or occasionally in other to drive sales or to wow customers.

7 0

3 years ago

Read 2 more answers

A financial analyst is attempting to assess the future dividend policy of Environmental Systems by examining its life cycle. She

GrogVix [38]

Answer:

Consider the following calculations

Explanation:

A. Dividend per Share = Dividend Payout Ratio * Earnings Per Share

Putting the values given to calculate dividend per share we get,

Stages DPS = Payout Ratio * EPS DPS

Stage 1 =0.00*$0.30 $0

Stage 2 = 0.13*1.95 $0.25

Stage 3 =0.31 * $ 2.80 $0.868

Stage 4 = 0.56*$3.40 $1.90

b. Calculation of Investors After Tax Income from Cash Dividend:-

Cash Dividend = Number of Shares * DPS in Stage IV

= 290 * $ 1.90

= $552.16

After Tax Income = DIvidend ( 1 - Tax Rate)

= $ 552.16 ( 1- 0.15)

= $ 469.34

C:- In Stage II and Stage III for Growth & Expansion respectively, the firm is likely to utilise stock dividend or stock split.

5 0

3 years ago

A free market exists

Vaselesa [24]

<span>A free market exists when the government places few restrictions on how a good or a service can be produced or sold or on how a factor of production can be employed. A free market is an economic system where prices are decided on if there is unrestricted competition between privately owned businesses. Supply and demand are the main factors in a free market and there is little to no government control. </span>

3 0

2 years ago

Read 2 more answers