Answer and Explanation:
The computation of the cost assigned is given below:
For units transferred out
= 41,400 units × ($6 + $10)
= $662,400
For ending work in units
= 5,620 units × $6 + 5,620 units × 40% × $10
= $33,720 + $22,480
= $56,200
Hence, the costs to be assigned to the units transferred out and the units in ending work in process is $662,400 and $56,200 respectively
Answer:
$140,000
Explanation:
Computation of the company’s net income for 2014.
Using this formula
Net income=Revenue – Expenses
Let plug in the formula
Net income=$200,000 - $40,000+$20,000
Net income= $140,000
Therefore the company’s net income for 2014 will be $140,000
Good customer service means having thorough knowledge and having a positive attitude.
Answer:
100 units were sold at $30 per unit
Explanation:
theoretically, in a perfect competition market, the price of a good = marginal revenue = marginal cost. Also, the market sets the price, not the individual firm.
If total revenue = $3,000 and marginal revenue per unit = $30, then we can assume that the sales price of each unit was $30, therefore, they sold $3,000 / $30 = 100 units.
