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sergeinik [125]
2 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]2 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

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Option (D) is correct.

Explanation:

We know that there is a inverse relationship between the price of a good and its quantity demanded.

Relative inelastic demand refers to the demand where percentage change in the quantity demanded is relatively smaller than the percentage change in price of the good.

Relative inelastic demand curve is a demand curve which is relatively steeper in shape but not perfectly inelastic or vertical.

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On February 1, a customer's account balance of $2,700 was deemed to be uncollectible. What entry should be recorded on February
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Answer:

On February 1, a customer's account balance of $2,700 was deemed to be uncollectible.

The entry to be recorded on February 1 to record the write-off assuming the company uses the allowance method is:

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Explanation:

Using the allowance method, every bad debt entry is first reflected in the Allowance for Doubtful Accounts before it is taken to the bad debt expense account.

The entries above reduce the Accounts Receivable account by the amount of the write-off and reduces the Allowance for Doubtful Accounts by the same amount.  Any recovery of written off debt is also treated in the Allowance for Doubtful Accounts and the Accounts Receivable account in revised order.  This method is unlike the direct write-off method.  With the direct write-off method, the Accounts Receivable is credited with the amount of the write-off and the write-off is expensed in the Bad Debts Expense account directly.

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Global Technology’s capital structure is as follows: Debt 50 % Preferred stock 35 Common equity 15 The aftertax cost of debt is
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Answer:

The computation is shown below:

Explanation:

The computation is shown below:

For weighted cost of each source of capital is

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Equity

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Both have the same interest rate which is 3%.

<h3>What is interest?</h3>
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To find the higher interest rate:

Given that,

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If we calculate the annual interest for monthly and quarterly rates, it will be:

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