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
Svetradugi [14.3K]
2 years ago
15

Georgia Products Inc. completed and transferred 163,000 particle board units of production from the Pressing Department. There w

as no beginning inventory in process in the department. The ending in-process inventory was 14,000 units, which were 2/5 complete as to conversion cost. All materials are added at the beginning of the process. Direct materials cost incurred was $628,350, direct labor cost incurred was $204,850, and factory overhead applied was $48,050.
Determine the following for the Pressing Department. Round "cost per equivalent unit" answers to the nearest cent.
a. Total conversion cost $
b. Conversion cost per equivalent unit $
c. Direct materials cost per equivalent unit $
Business
1 answer:
Lerok [7]2 years ago
3 0

Answer:

Pressing Department. Round "cost per equivalent unit" answers to the nearest cent.

a. Total conversion cost $

b. Conversion cost per equivalent unit $

c. Direct materials cost per equivalent unit $

a. Total conversion cost                     252.900

b. Conversion cost per equivalent unit  0.61

c. Direct materials cost per equivalent unit  3.20

Explanation:

Solution

a. Total conversion cost                     252.900

b. Conversion cost per equivalent unit  0.61

c. Direct materials cost per equivalent unit  3.20

Statement of Equivalent Units(Weighted average)

Material Conversion cost

Units   Complete         % Equivalent units Complete % Equivalent units

Transferred out     163.000 100%    163,000 100%             163,000

Ending WIP               14,000 100%     14,000 40%                  5,600

Total                     177,000 Total    177,000 Total             168.600

.

Cost per Equivalent Units (Weighted average)

COST                              Material Conversion cost TOTAL

Beginning WIP Inventory Cost    $ 0

Cost incurred during period  628.350         252.900        881.250

Total Cost to be accounted for    566,100         102,900       669,000

Total Equivalent Units             177,000          168.600

Cost per Equivalent Units      3.20                 0.61             3.81

You might be interested in
On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On J
SashulF [63]

Answer:

1. The Ensor's stock measurement date is January 01, 2021

2. Compensation expense for the stock option is $50 million

3. Please see journal entry in the explanation below.

Explanation:

1. It was clearly indicated in the question that on January 1, 2021 , 32 million stock options were granted hence measurement date is ; 1st of January, 2021

2. The fair value per stock option is $6

Therefore, total compensation expenses = $6 × 25 million

= $150 million

Since the options are exerciseable between 01/01/2024 and 01/01/2026

The period for vesting will be 3 years from 01/01/2021 - 31/12/2023

Therefore, the compensation expense for the stock option in year 2021 = Total compensation expense/ Vesting period

= $150 million /3

= $50 million

3. Since 2.6 million(10%) were forfeited, 90% represent the remaining unforfeited. I. e (100%-10%)=90%

In 2022, which is the second year of the vesting period, compensation expense would be;

Compensation expense of 2022 = (Total compensation expense * 90% * the order of the period / Number of period - Compensation expense of

2021

= $150 million *90% *2/3 - $50 million

=$40 million.

In 2023,

Dr Cr

Compensation expense. $40 million

Paid in capital stock options. $40 million

4 0
3 years ago
The natural rate of unemployment will help determine
kotykmax [81]
<span>The point of the long-run aggregate supply curve.

I hope this helps!
</span>
4 0
3 years ago
Read 2 more answers
The City of Fairfield issued $100 million of 20-year, 6 percent coupon bonds (3 percent per semiannual period) for $89.32 millio
Rudik [331]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
Joey cuts lawns during the summer. Let q equal the number of acres mowed per day, and let L equal the number of hours worked per
Anna71 [15]

Answer:

The answer is B.

Explanation:

Marginal Productivity can be described as when every variable in the equation is held constant, it is the amount of productivity gained for every extra hour of labor that is put in.

And according to the information about Joey and his productivity cutting the lawns, we are provided the equation q = 0.2*L which means that for every extra hour Joey works cutting the lawns, Joey's marginal productivity is going to decrease by 0.2 or 20% so the answer is B.

I hope this answer helps.

7 0
3 years ago
Read 2 more answers
One year ago, you purchased $6,000 worth of a mutual fund at an offering price of $38.10 a share. Today, the fund distributed $0
dalvyx [7]

Answer:

a. 7.48%

Explanation:

Number of shares = $ 6,000 / $ 38.10

Number of shares = 157.48

Rate of return = [Number of shares * (Short term gans + Long term gains + ((1 - Front end load) * (Current offering price)) - Purchase price] / Purchase price

Rate of return = [157.48 * ($0.20 + $1.04 + ((1 - 0.05 ) * $41.80)) - $6,000] / $6,000

Rate of return = [157.48 * ($0.20 + $1.04 + (0.95 * $41.80)) - $6,000] / $6,000

Rate of return = [157.48 * ($1.24 + $39.71) - $6,000] / $6,000

Rate of return = $448.806 / $6,000

Rate of return = 0.074801

Rate of return = 7.48%

6 0
3 years ago
Other questions:
  • Kameron Gibson’s bank statement showed a balance of $1,020.35. Kameron’s checkbook had a balance of $282.10. Check No. 104 for $
    5·1 answer
  • Janice spends her weekends with her friends at shopping malls. She acknowledges that her weekend shopping outing is driven by bo
    9·1 answer
  • Most economists believe that a cut in tax rates a. would generally increase government tax revenue. b. would have no effect on a
    12·1 answer
  • 5. Firm Q is about to engage in a transaction with the following cash flows over a three-year period: Year 0 Year 1 Year 2 Reven
    7·1 answer
  • True or False: When fish are caught under common property rights, the market price of fish can send misleading information to de
    14·1 answer
  • Revenue of $1,000 was collected in advance from customers for goods and was recorded as sales revenue. At year end, $600 of the
    5·1 answer
  • Economists who believe in sound finance would say that in a recession, the government should:
    9·1 answer
  • Current Attempt in Progress Nash's Trading Post, LLC developed the following information about its inventories in applying the l
    8·1 answer
  • T or F #4 QUICKKK<br> One purpose of a quota is to limit imports.
    9·1 answer
  • Mcclelland's research suggests that the need for achievement is?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!