Answer: Equivalent units for conversion = 4870 units
Explanation:
Given that,
Beginning work in process inventory = 300 units
Beginning work in process inventory for conversion = 40% of 300 units
= 120 units
5,000 units were started in December.
Ending work in process = 500 units
Ending work in process inventory for conversion = 50% of 500 units
= 250 units
Units started and completed = 5000 - 500
= 4500 units
Equivalent units for conversion = 4870 units
S corporation is a special structure of business ownership which <span>is not required to pay corporate income tax on the profits of the company. </span>
The maximum number of actual shareholders in an s corporation is 100. <span>100 shareholders or less have the benefit of incorporation while being taxed as a partnership.</span>
Explanation:
I do not think that is true even considering a linear cost of every 4 pairs of shoes
Answer:
$22
Explanation:
Book value per share of common stock=$8,690,000-(20,000*100)-(20,000*100*8%)/300,000
=$8,690,000-$2,000,000-$160,000/300,000
=$22
Answer:
$80,544
Explanation:
We will calculate the amount of cost of goods sold using FIFO as;
= (Beginning inventory unit × Cost of each inventory) + [(Units sold during the month - Beginning inventory units) × Unit cost of the first purchases made by the company]
= (488 × $65) + [(1,206 units - 488 units) × $68]
= $31,720 + $48,824
= $80,544
Therefore, the cost of goods sold using FIFO is $80,544
