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
Romashka [77]
3 years ago
8

Loanstar had 150 units in beginning inventory before starting 950 units and completing 900 units. The beginning work in process

inventory consisted of $2,000 in materials and $4,000 in conversion costs before $7,900 of materials and $13,280 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 30% complete with regard to conversion costs. Use the above information to complete a production cost report. Enter all amount as positive values.
Business
1 answer:
Lubov Fominskaja [6]3 years ago
7 0

Answer:

Loanstar

Production Report:

                             Units     Materials    Conversion    Total

Beginning WIP     150         $2,000       $4,000          $6,000

Started                950           7,900         13,280            21,180

Total                  1,100         $9,900       $17,280        $27,180

Completed         900              900             900

Ending WIP        200              200 (100%)    60 (30%)

Total equivalent units           1,100             960

Cost per equivalent unit    $9              $18

Cost assigned to:

Units completed               $8,100           $16,200         $24,300

Ending WIP                          1,800               1,080              2,880

Total cost of production $9,900           $17,280           $27,180

Explanation:

a) Data and Calculations:

                             Units     Materials    Conversion    Total

Beginning WIP    150         $2,000       $4,000          $6,000

Started               950           7,900         13,280            21,180

Total                 1,100         $9,900       $17,280        $27,180

Completed        900           900             900

Ending WIP       200            200 (100%)   60 (30%)

Total equivalent units       1,100             960

Cost per equivalent unit    $9              $18

Cost assigned to:

Units completed               $8,100           $16,200         $24,300

Ending WIP                          1,800               1,080              2,880

Total cost of production $9,900           $17,280           $27,180

You might be interested in
What are the four qualities of good leadership?
astra-53 [7]
Honesty , Trustworthy , Determined & Passionate .
3 0
3 years ago
Read 2 more answers
Check My Work Mack is injured by a tractor manufactured by WestCo. In order to defend against a negligence claim based upon the
Tamiku [17]

Answer:

Option D Showing the absence of privity of contract between it and the consumer.

Explanation:

The reason is that privity of contract says that the party of the contract are only allowable to sue each other which in other words can enforce the other to fulfill his requirements that were agreed while forming contract. So the right answer is option D because it is not related to the negligence claim.

The duty of care that the company owes towards its product's users includes using appropriate production process so that the customer will not be injured, placing the caution and warning labels so that the person can save him from the injury and the company has used components that will not harm the user of the product.

So all the options are correct except option D.

8 0
3 years ago
Suppose the government introduces tax incentives to increase private household saving. What would be the effect on net capital o
Reptile [31]

Answer:

Mama thu thu thu thu thu thu

Explanation:

Hi

6 0
2 years ago
Rather than competing head to head with established competitors, many companies seek out unoccupied positions in uncontested mar
Solnce55 [7]

Answer:

The correct answer is d. "blue ocean strategy".

Explanation:

The strategy seeks to set aside competition between companies, expanding the market through innovation. What companies need to be successful in the future is to stop competing with each other. In the last twenty-five years, all strategic thinking has been directed to the red ocean; The administration defines that in the competition there is the success or failure of the companies, which has allowed many to know how to perform skillfully in this world, but ignoring that another type of strategy could generate better results, without worrying so much about the competition.

The red ocean represents all existing industries today. These companies must have clearly marked limits, as well as defined competencies, and their objective is to overcome the rival and gain a great position in the market. They are constantly exposed to the emergence of new competitors, which decrease their chances of growth. Usually, this type of ocean is the reality of every business.

6 0
3 years ago
Hank has a 32% marginal tax rate and has already recognized a STCL of $8,000 and a L TCG of $5,000, both due to the sale of stoc
Ivenika [448]

Answer:

The increase in his tax liability is $1,120

Explanation:

STCL due to sale of stock = $8,000

LTCG due to sale of stock = $5,000

∴Net STCL = $8,000 - $5,000

 Net STCL = $3,000

LTCG on sale of antique clock = $7,000

∴Net LTCG on sale of antique = $7,000 - $3,000 = $4,000

LTCG on sale of antiques is taxed at the rate of 28%

∴ Tax liability = $4,000 * 28%

  Tax liability = $4,000 * 0.28

  Tax liability = $1,120

6 0
3 years ago
Other questions:
  • Monetary policy administered by the fed is the principal method of softening the effects of the business cycle because _____.
    11·2 answers
  • Monette has posted over 100 book reviews on discussion forums. she also frequently reviews products and services and posts her r
    11·1 answer
  • What is the new payment on a 25-year, monthly payment, adjustable-rate mortgage after five years if the interest rate changes fr
    14·1 answer
  • If the “exact” terms of the listing agreement are met, the listing broker is entitled to a commission, even if the:
    8·1 answer
  • Suppose a price-taking firm produces 400 units at its optimal output level. At that output rate, marginal cost is $200, average
    13·1 answer
  • Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 244 million barrels of oi
    6·1 answer
  • As a graduating senior, Chun Kumora of Manhattan, Kansas, is eager to enter the job market at an anticipated annual salary of $5
    15·1 answer
  • What is the role of a manager in business organizations?
    15·1 answer
  • Presented below is pension information for Ceylan Inc.for the year 2019: Service cost $82,000 Interest on projected benefit obli
    6·1 answer
  • One of the most important applications of ratio analysis is to compare a company's performance with that of other players in the
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!