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Snezhnost [94]
3 years ago
14

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

0% complete. Total production costs are $666,000. The cost of ending Goods in Process Inventory is:______.
Business
1 answer:
Artyom0805 [142]3 years ago
6 0

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

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The scenarios each illustrate a principle of economics. classify each scenario according to the principle that best fits it. you
storchak [24]

David's decision on the electronics to purchase represents opportunity cost.

The decision to hire another economist is marginal analysis.

Ana's decision on how to use her time involves opportunity cost.

<h3>What is opportunity cost?</h3>

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When an economic agent chooses one option, he would not be able to choose another option.

<h3>What is marginal analysis?</h3>

Marginal analysis involves comparing the marginal cost or / and the marginal benefit of a decision.

To learn more about opportunity cost, please check: brainly.com/question/26315727

#SPJ1

8 0
2 years ago
Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After sampling 36 t
densk [106]

Answer:

The store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66.

Explanation:

In statistics, a confidence interval is the probability that the parameter of a population lies between two set of values when a random sample of the population is drawn for a specific percentage of times. This means that the confidence interval is formed about the whole population not the sample from which it is calculated.

The probabilities of a confidence interval can take any number, but 95% and 99% confidence level that are usually used.

It should be noted that, for example, 95% confidence level implies that there is a 95% chance that the true mean of the population lies within the calculated confidence interval.

Therefore, the statement which gives a valid interpretation of the interval in the question is the first one which states that "the store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66."

I wish you the best.

4 0
2 years ago
Maya owes $20,000 on her credit cards, her adjustable mortgage rate has just gone up, and she has been out of work for 3 months.
grigory [225]

Answer: exhaustion

Explanation:

Given the information provided in the question, we are told that Maya collapsed and had to be taken to the emergency room. According to Hans Selye, Maya is in the exhaustion phase of the general adaptation syndrome.

At this stage, Maya's energy resources has been depleted after failing to recover from shock.

7 0
3 years ago
Kate Payne was reading the business plan for New Venture Fitness Drinks, and noticed that prior to its financial statements, New
Y_Kistochka [10]

Answer: Financial Notes and Supplementary Schedules

Explanation:

The Financial Notes and Supplementary Schedules is also known as footnotes.

The notes discloses-

a. Assumptions used in the preparation of the financial statements.

b. Discloses accounting policies used in the preparation of the financial statements.

c. Financial instruments been used by the business.

d. Legal matters.

I hope this answers your questions.

Goodluck

8 0
3 years ago
During 2020, Karen Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated
Ivan

Answer:

a. $842,250

b. $842,250

Explanation:

The computation is shown below:

a. For avoidable interest

<u>Weighted average               Interest rate applied  avoidable interest</u>

<u>accumulated expenditures </u>

$5,205,000                               10%                           $520,500

$2,925,000                                11%                            $321,750

Total                                                                             $842,250

($8,130,000 - $5,205,000)

Working note for interest rate applied

<u>Particulars                   Principal                Interest</u>

12% ten year bond    $6,047,000            $725,640    

9% 3 year bond         $3,023,500            $272,115

total                            $9,070,500            $997,755

Now the interest rate is

= $997,755 ÷ $9,070,500

= 11%

2. Now the total interest capitalized is

Total interest is

= $520,500 + $725,640 + $272,115

= $1,518,255

And, the total avoidable interest is $842,250

So we considered the lesser amount i.e. $842,250

6 0
3 years ago
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