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Mariana [72]
3 years ago
7

The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processin

g department. The company's ending work in process inventory on August 31 consisted of 18,600 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.90 for materials and $4.40 for labor and overhead, the total cost assigned to the ending work in process inventory was: Multiple Choice $103,044 $81,468 $135,780 $86,676
Business
1 answer:
Lapatulllka [165]3 years ago
6 0

Answer:

A. $103,044

Explanation:

Ending work in progress inventory = 18,600 units

Cost of equivalent unit for material = $2.90 per unit

Ending work in progress inventory i= 100% complete for material

Total cost of inventory for material = 18,600 units * $2.90 per unit

Total cost of inventory for material = $53,940

Cost of equivalent unit for labor = $4.40

Ending work in progress = 60% complete for labor

Cost of ending work in progress = $4.40 * 60% * 18,600

Cost of ending work in progress = $49,104

Total cost of ending work in progress inventory = $53,940 + $49,104

Total cost of ending work in progress inventory = $103,044

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Answer: Option c                                    

Explanation: Elasticity is an economic term that describes a transition in consumer and vendor actions in response to a price change for a commodity. How the market for the commodity responds to a price change dictates the elasticity or in-elasticity of the demand for that product.

An inelastic commodity is the one that even after a price change, buyers continue to buy. A good or service's elasticity may change depending on the number of close alternatives accessible, its overall cost, and the length of time that has passed since the increase in price occurred.

Thus even if there is a slight change in demand due to change in price then the commodity is said to be elastic.

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4 years ago
All of the following are true of Transportation EXCEPT: A. Transportation systems link geographically separated partners, facili
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Answer:

C. Transportation managers choose modes of transportation based only on cost

Explanation:

Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

The fundamentals of supply chain management are best summed up as a strategic collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.

Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.

Basically, in supply chain management, transportation plays a significant part in the movement of goods or services from the point of production to the end users or consumers.

Hence, all of the following are true of Transportation;

A. Transportation systems link geographically separated partners, facilities and customers

B. Transportation facilitates the creation of time and place utility in the supply chain

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6 0
3 years ago
NDP Mp will be equal to:
Ivanshal [37]

Answer:

B) NDPFC + Indirect Taxes

Explanation:

Net domestic product (NDP) is obtained by subtracting depreciation from gross domestic product (GDP), and it can be calculated at market price (NDPmp) or at factor cost (NDPfc):

  • NDPmp = GDPmp – depreciation
  • NDPfc = GDPmp – depreciation – indirect taxes

If we substitute NDPfc into option B, we will get:

NDPmp = NDPfc + indirect taxes

NDPmp = (GDPmp - depreciation - indirect taxes) + indirect taxes

NDPmp = GDPmp - depreciation

6 0
4 years ago
On July 1 of the current year, Marcia purchases a new home and borrows $320,000. Marcia is required to pay two points on the loa
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Answer:

$6,400.

Explanation:

Because these points are paid in connection with the purchase of a principal residence, Marcia may deduct $6,400 ($320,000 × 2%) as interest expense during the current year.

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