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3 years ago

Costs from Beginning Inventory Costs from Current Period

Business

1 answer:

Alex3 years ago

5 0

Answer:

$30.59

Explanation:

Note that the FIFO method is used for this question

Equivalent Units

Materials = 5,200 x 100 % + 300 x 100 % = 5,500

Conversion Costs = 400 x 55 % + 5,200 x 100 % + 300 x 35 % = 5,525

Total Costs

Materials = $25,200

Conversion Costs = $143,700

Cost per Equivalent unit

Materials = $25,200/5,500 = $4.58

Conversion Costs = $143,700/5,525 = $26.01

Total Cost = $4.58 + $26.01 = $30.59

Conclusion

The cost of completing a unit during the current period was $30.59

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3 years ago

What word does this pattern spell? g у

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3 years ago

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On December 31, 2015, Waterway Industries is in financial difficulty and cannot pay a note due that day. It is a $2900000 note w

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Answer:

(a) $210,000

(b) $351,500

Explanation:

(a) Given that,

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Face Amount of the note = $1,230,000

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= Fair value of equipment - Face Amount of the note

= $1,440,000 - $1,230,000

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(b) Given that,

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3 years ago

Introduction of checks into the payments system reduced the costs of exchanging goods and services. Another advantage of checks

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Answer:

they provide convenient receipts for purchases

Explanation:

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3 years ago

After 1989, Donna purchased series EE savings bonds for $2,500 at the age of 25. This year she redeemed the bonds for $5,000 and

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Answer:

$1,000

Explanation:

Donna purchased series of savings bond for $2,500 at the age of 25

This year Donna redeemed the bond of $5,000

She paid $3,000 as expenses for her daughter education

The first step is the calculate the interest income

= $3,000/$5,000 × $2,500

= 0.6 × $2500

= $1,500

Therefore the interest that will be required by Donna to include in her gross income this year can be calculated as follows

= $2,500-$1,500

= $1,000

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