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
sergeinik [125]
3 years ago
14

ABC Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department

in its production process. The data below summarize the department's operations in January.
Units Percent Complete with
Respect to Conversion
Beginning work in process inventory 5,100 70%
Transferred in from the prior department
during January 59,000
Completed and transferred to the next
department during January 56,800
Ending work in process inventory 7,300 40%
The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,558 and a total of $559,254 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to:____.
A) $7.00.
B) $7.50.
C) $7.65.
D) $8.00.
Business
1 answer:
Sveta_85 [38]3 years ago
4 0

Answer:

$9.94

Explanation:

Equivalent unit of conversion cost = 56,800 + (7,300*40%)

Equivalent unit of conversion cost = 56,800 + 2,920

Equivalent unit of conversion cost = 59,720 unit

Total cost of conversion = $34,558 + $559,254

Total cost of conversion = $593,812

Cost per equivalent unit of conversion = Total cost of conversion / Equivalent unit of conversion cost

Cost per equivalent unit of conversion = $593,812 / 59,720 units

Cost per equivalent unit of conversion = $9.9432686

Cost per equivalent unit of conversion = $9.94

You might be interested in
A machine with a book value of $80,000 has an estimated five-year life. A proposal is offered to sell the old machine for $50,50
34kurt

Answer:

Company should continue with old machine (Alternative 1)

Explanation:

Preparation of a differential analysis dated April 11 on whether to continue with the old machine (Alternative 1) or replace the old machine (Alternative 2)

DIFFERENTIAL ANALYSIS

Continue with old machine(Alternative 1) ; Replace with old machine(Alternative 2); Differential effect on income

REVENUES

Proceeds from sale of machine

$0 $50500 $50500

COSTS

Purchase price $0 -$75000 -$75000

Direct labor -$56000 -$37000 19000

(11200*5 = -56000)

(7400*5 = -37000)

Income (loss) -$56000 -$61500 -$5500

Based on the above differential analysis the Company should continue with OLD MACHINE (Alternative 1)

6 0
3 years ago
Consider a corrupt provincial government in which each housing inspector examines two newly built structures each week. All the
Anarel [89]

Answer:

a) If bribes cost $1,000 each, how much will a housing inspector make each year in bribes?

So, if the corrupt inspector approves two newly built structures each week, ti means that he is bribed twice per week. There are 52 weeks in a year, so he gets a total of 104 bribes (52 x 2). If each bribe costs $1,000, then he makes a total of: $1,000 x 104 = $104,000 in bribes per year.

c) Corrupt officials may have an incentive to reduce the provision of government services to help line their own pockets.

This statement is true. Corrupt officials will want to have private companies they can obtain bribes from provide government services. It increases the probability of them making money from bribes.

d) What if reducing the number of inspectors from 20 to 10 only increased the equilibrium bribe from $1,000 to $1,500?

Reducing the number of inspectors in hafl means that each inspector now gets twice the bribes. Because the equilibrium price did not double as did the quantity of bribes, each inspector will make less money than expected, but they will still the incentive to collect all the four bribes per week.

7 0
3 years ago
Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from cigarett
Romashka-Z-Leto [24]
C) convenience de others don’t make most of its revenues from those items
6 0
3 years ago
Treasury stock is:
VashaNatasha [74]

Answer:

a. Common stock acquired by the company in the open market & recorded as negative equity

Explanation:

A stock which is buy back from the market at market rate issued by the company. It reduces the total outstanding shares of the company. It is the difference of Number of share issued and Number of share outstanding. Its account is consider as contra equity account. So the correct option is a. Common stock acquired by the company in the open market & recorded as negative equity.

7 0
3 years ago
Read 2 more answers
John Inc. is a manufacturing business. For a given accounting period, the business’s total revenue amounted to $75,000, while it
maksim [4K]

Answer:

John Inc.'s return on equity for this accounting period is:

B.

26.66 percent

Explanation:

Return or equity is a ratio used to calculate the efficiency of a certain business. It is calculated by dividing the net income on the stockholders' equity. Therefore, in our case, we translate this into 40 000 dollars divided into 150 000. Giving us a  result of .26 %. Thus, the correct option is the B. option.

8 0
3 years ago
Other questions:
  • During 2019, its first year of operations, Bento Steel Corporation reported a net operating loss of $500,000 for financial repor
    7·1 answer
  • All of the following are reasons to use an estimated method of costing inventory except: A. perpetual inventory records are not
    8·1 answer
  • Which of the following is the best example of a​ quota? A. a subsidy granted by the U.S. government to domestic sport utility ve
    9·1 answer
  • ​It's widely believed that​ self-driving vehicles will become commonplace in the fairly near future and that their growth will b
    10·1 answer
  • Opportunity cost is:
    6·1 answer
  • On May 1, a two-year insurance policy was purchased for $26,400 with coverage to begin immediately. What is the amount of insura
    7·1 answer
  • Janelle make $648 commission when she sold $32,400 worth of insurance. What rate of commission did she make
    13·1 answer
  • __________ competition assumes perfect market information (everyone in the market knows the price of the good or service).
    10·1 answer
  • For the following year, show how the following amounts should be reported on the financial statements:
    5·1 answer
  • The debt of state and local governments is mostly? owed to citizens of other nations. external. worthless internal.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!