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STALIN [3.7K]
3 years ago
6

MC Qu. 94 A company uses a process... A company uses a process costing system. Its Assembly Department's beginning inventory con

sisted of 57,200 units, 75% complete with respect to direct labor and overhead. The direct labor beginning inventory costs were $10,700. The department completed and transferred out 109,500 units this period. The ending inventory consists of 47,200 units that are 25% complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $42,000 and overhead costs of $50,000 for the period. Assuming the weighted average method, the direct labor cost per equivalent unit (rounded to the nearest cent) is:
Business
1 answer:
Eddi Din [679]3 years ago
3 0

Answer:

$0.43

Explanation:

                                  Equivalent Units

                                                                                         Labor

                                                                       % Completion       Units

Units Completed and Transferred out                100%             109,500

Ending Work in Process                                       25%               <u>11,800   </u>

Total Equivalent units                                                                 <u>121,300  </u>

<u />

Particulars                                         Amount

Beginning work in Process               10,700

Cost Added during May                    <u>42,000</u>

Total cost added during the year   <u>$52,700</u>

<u />

Cost per Equivalent unit = Total cost added during the year / Total Equivalent units

Cost per Equivalent unit = $52,700 / 121,300 units

Cost per Equivalent unit = 0.43446002

Cost per Equivalent unit = $0.43

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6 0
3 years ago
An intangible asset
Alexxx [7]

Answer:

The correct answer is letter "C": does not have physical substance, yet often is very valuable.

Explanation:

Physically, intangible assets do not exist but they are important since they represent potential revenue. Types of intangible assets include brand recognition, intellectual property and legitimate patents such as patents, trademarks, and copyrights. Intangible Assets do not have value for accounting recording purposes.

3 0
3 years ago
The processes a firm uses to turn inputs into outputs of goods and services is called
Troyanec [42]

The correct answer is technology.

The processes that a firm uses in order to turn inputs into outputs of goods and services is called technology.

6 0
3 years ago
Supply costs at Lattea Corporation's chain of gyms are listed below:
Reptile [31]

Answer:

The correct answer is d. $0.31 per client-visit; $24,766 per month.

Explanation:

The costs can be of fixed nature or a variable nature or of a mixed nature. A mixed costs contains a component of both fixed and variable costs. The high-low method is used to calculate the variable component per unit of a mixed cost. Th formula for high low method is:

Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity level - Lowest activity level)

the highest activity is in June, 13400 client visits and the highest cost is also of this activity. The lowest activity is in August, 11207 client visits and the lowest cost belongs to this activity.

Variable cost per unit = (28920 - 28235)  /  (13400 - 11207)

Variable cost per unit = $0.31 rounded off to two decimal places

The fixed cost = Total cost - total variable cost

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The fixed component is = 28920 - (0.31 * 13400) = $24766 per month

Thus, the correct answer is d.

5 0
3 years ago
Suppose you deposit ​$1 comma 700 cash into your checking account. By how much will the total money supply increase as a result
puteri [66]

Answer:

$17,000

Explanation:

Amount Deposited into checking account = $1,700 cash

Required reserve ratio = 0.10

Money multiplier = 1 ÷ Required reserve ratio

                            = 1 ÷ 0.10

                            = 10

Change in money supply = Amount deposited × Money multiplier

                                          = $1,700 × 10

                                          = $17,000

Therefore, the increase in total money supply would be $17,000.

6 0
3 years ago
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