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
krek1111 [17]
2 years ago
5

Gantner Company had the following department information about physical units and percentage of completion: Physical Units Work

in process, May 1 (60%) 60000 Completed and transferred out 180000 Work in process, May 31 (40%) 50000 If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May
Business
1 answer:
aniked [119]2 years ago
8 0

Answer:

200,000 units by Weighted Average Cost Method

164,000 units by FIFO Method

Explanation:

1. Where Weighted Average Cost Method is used.

Assuming that Gantner Company uses the Weighted Average Cost Method, the total number of equivalent units for materials during May can be determined as follows :

Completed and transferred out (180000 x 100)      180,000

Ending Work In Process (50000 x 40%)                   20,000

Total equivalent units for materials                          200,000

1. FIFO Method is used.

Assuming that Gantner Company uses the FIFO Cost Method, the total number of equivalent units for materials during May can be determined as follows :

To Complete Opening Work in Process (60000 x 40%)        24,000

Completed and transferred out (180000 - 60,000) x 100%  120,000

Ending Work In Process (50000 x 40%)                                  20,000

Total equivalent units for materials                                        164,000

You might be interested in
Production activities are done as needed in order to satisfy a specific demand.
worty [1.4K]

Hi there!

Usually, this is the case.  However, just like when hoverboards first came out, there was a shortage of hoverboards and production activities had to ramp up production.  However, after a few months, production activities were at a high level, but demand petered out.  

-AwesomeRepublic  :)

7 0
3 years ago
Explain what lower of cost or market means in regards to reporting merchandise inventory on the balance sheet.
Degger [83]

Answer and Explanation:

Inventory is an asset and is posted on the asset side of the balance sheet. As per accounting standards regarding inventory valuation, it can be either valued at historical cost or at market price, whichever is lower.

Historical cost is the cost at which asset was acquired. Market price is the price which would be received if the asset is replaced as on the date on which balance sheet is prepared. Inventory is valued at lower of the above mentioned costs.

4 0
3 years ago
Your firm needs a computerized line-boring machine that costs $90,000 and requires $16,000 in maintenance costs for each year of
sladkih [1.3K]

Answer:

The aftertax salvage value of the machine is D) $10,134

Explanation:

Hi. first, we need to find out the book value of the machine at the selling date, that is 3 years from now, and the book value is as follows.

BookValue=90,000-90,000*0.3333-90,000*0.4444-90,000*0.1482=6,669

Since taxes are based on the profit you make by selling something, our profit is:

Profit=12,000-6,669=5,331

Therefore, our taxes are:

Taxes=5,331*0.35=1,866

So, the after tax salvage value of the machine is the money you received on the sale minus the taxes you have to pay, that is:

Salvage Value of the Machine = $12,000 - $1,866?= $10,134

That is option D)

Best of luck.

3 0
3 years ago
_____ is the act of negotiating with employers regarding employment issues by employees who are members of a union.
jek_recluse [69]

Answer:

Collective bargaining

Explanation:

Collective bargaining is the process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment, including pay, benefits, hours, leave, job health and safety policies, ways to balance work and family, and more.

3 0
2 years ago
2. Explain what happens to the demand curve
astraxan [27]

Answer:

The law of demand states that consumers will request more of a product if its price decreases. For supplement goods, an increase in the price of one will increase demand for the other. The demand curve for apples will react as follows.

Explanation:

<u>A). More people begin to prefer apples to oranges.</u>

Should peoples' preference change to apples, the demand for oranges will decrease while that of apples will increase. The demand curve is downward sloping. If demand increases, the demand curve will shift to the right. It is also referred to as moving outwards. In this case, the demand curve for apples will shift to the right.

B) <u>The price of peaches rises (because peaches are a substitute for apples).</u>

Substitutes imply a good can be used in place of another. If the price of a substitute increases, it demands decreases. The demand for the substitute good will go up. An increase in the price of peaches will increase the demand for apples. As a result, the demand curve will shift outwards. In other words, shift to the right.

C. People's incomes rise (and apples are a normal good).

Demand for normal goods increase as the people's income rises. More people will afford to buy apples. If people are now earning more, the demand for apples will go up. The demand curve will shift to the right to indicate a surge in demand.

5 0
3 years ago
Other questions:
  • true or false: a supply curve describes how much a producer of services are willing to sell at different prices
    5·1 answer
  • On July 9, you purchased 600 shares of Blue Water stock for $32 a share. On August 4, you sold 100 shares of this stock for $33
    5·1 answer
  • What contribution did beer production make to the process of bread making?
    7·1 answer
  • The following transactions were completed by the company.
    9·1 answer
  • Bright Slope Corp. has provided the following information:Balance SheetCash $ 10,000 Accounts Payable $ 5,000Marketable Securiti
    14·1 answer
  • NDS Industries is evaluating a project with an initial investment at Time 0 of $640,000. The present value of the levered cash f
    8·1 answer
  • Cash Retained Earnings Service Revenue Utilities Expense Salaries Expense Accounts Receivable Accounts Payable Common Stock Equi
    14·1 answer
  • A. decide tenure of the loan
    5·2 answers
  • True or false. When customers increase their borrowing, interest rates tend to decline
    13·1 answer
  • Developmentalists believe that life-span development is ______ because it consists of interactions of biological, cognitive, and
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!