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jenyasd209 [6]
2 years ago
5

When using the first-in, first-out (FIFO) method of process costing, equivalent units for work done during this period is equal

to the number of units: In work-in-process at the beginning of the period times the percent of work necessary to complete the items, plus the number of units started and completed during the period, plus the number of units remaining in work-in-process at the end of the period times the percent of work done during the period. Started into process during the period, plus the number of units in work-in-process at the beginning of the period. In work-in-process at the beginning of the period, plus the number of units started during the period, plus the number of units remaining in work-in-process at the end of the period times the percent of work necessary to complete the items. Transferred out during the period, plus the number of units remaining in work-in-process at the end of the period times the percent of work necessary to complete the items.
Business
1 answer:
yuradex [85]2 years ago
6 0

Answer:

In work-in-process at the beginning of the period times the percent of work necessary to complete the items, plus the number of units started and completed during the period, plus the number of units remaining in work-in-process at the end of the period times the percent of work done during the period

Explanation:

Under the FIFO following are the formulas needed for determining the equivalent unit of production. Any of the following formula should be used for calculated the same

(i) Equivalent Units of Production is

=  finish opening inventory units + units started & completed + closing work in process inventory  units

(ii) Equivalent Units of Production is

= opening inventory × (100% - Completion percentage of opening inventory) + Units started & completed + Closing work in process inventory × Completion percentage

(iii) Equivalent units of production is

= transferred out units + closing work in process inventory units − opening inventory units

Hence, the first option is correct

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What is a sales quota? Group of answer choices
Nuetrik [128]

Answer:

Sales Quota is the amount of sales that an individual sales person or group of sales people is expected to make within a specific amount of time.

Explanation:

Sales Quotas are the goals of the sales team that they are expected to achieve in a given period of time. It can be monthly, quarterly, or yearly. Sales Quota can be based on one person or can be set for a team or a group.

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3 years ago
Sunland’s Shop can make 1000 units of a necessary component with the following costs: Direct Materials $21000 Direct Labor 6000
algol13

Answer:

$9,000

Explanation:

Total variable cost of manufacturing the components are as follows;

Direct materials $21,000

Direct labor 6,000

Variable overhead 3,000

————

Total $30,000

If we purchase the cost is $39,000 and the company is indifferent if they will manufacture or purchase. Therefore;

$39,000 - 30,000 = $9,000 (unavoidable fixed cost)

7 0
3 years ago
For each of the following pairs of goods, state whether the cross-price elasticity is likely positive, negative, or zero. Explai
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Answer:

a. Hulu and Netflix.

Positive. They are close substitutes

Hulu and Netflix both provides television shows, so a consumer can choose between them. They are good substitutes

b. Tortilla chips and salsa.

Negative. They are complements.

Tortilla chips are consumed with salsa sauce. So a demand for salsa increases so does demand for tortilla chips.

c. Movie and popcorn.

Negative. They are complements.

The more people watch movies the more they will want to buy popcorn.

d. Running shoes and high heels

Close to zero. While they are substitutes they are not close substitutes.

Each has its own time of use. Consumers by them independently.

Explanation:

Cross price elasticity is a measure of the quantity demanded of one good to changes in price of another good.

So when a good's demand reduces with increase in price of another it is negative cross price elasticity. This is common with complements.

When quantity demanded of a good increases with increase in price of another, they are substitutes.

However when there is little effect on the quantity demanded with increase in price of the other good they are unrelated

4 0
3 years ago
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