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3 years ago

The parts of the process cost summary include:______.

Business

1 answer:

Volgvan3 years ago

6 0

Answer:

b. costs charged to departments.
c. cost assignment and reconciliation.
d. equivalent units of production

Explanation:

In Process costing, the company involved is producing a large amount of goods and services that are exactly the same. In order to assign costs therefore, the company will assign costs to all the products instead of individually.

Costs would be charged to various departments because they produce the goods so the entire department cost has to be assigned and reconciled with with the department that produce the goods. When the company only managed to partially complete the production of a good, they will still have to assign costs and so use equivalent units of production to do so.

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A company uses LIFO. At the beginning of the current year its inventory was $200,000, and at the end of the current year its inv

andriy [413]

Answer:

FIFO ending inventory = $290000

Explanation:

given data

current year inventory = $200,000

end of the current year inventory = $250,000

start of the year LIFO reserve = $30000

end of the year LIFO reserve = $40,000

solution

LIFO reserve is difference between inventory using LIFo and inventory using FIFO

FIFO ending inventory = LIFO ending inventory + LIFO reserve ...............1

put her evalue we get

FIFO ending inventory = $250000 + $40000

FIFO ending inventory = $290000

7 0

4 years ago

Assume that a $1,000,000 par value, semiannual coupon US Treasury note with three years to maturity has a coupon rate of 3%. The

kkurt [141]

Answer: $800,178.79

Explanation:

This is a semi-annual coupon bond so convert rate and period to semi annual rates.

Coupon payment = 3% * 1,000,000 * 1/2 years

= $15,000

YTM = 11%/2 = 5.5%

Number of periods = 3 years * 2 = 6 semi annual periods

Value of Bond = Present value of coupon payments + Present value of par

= 15,000 * ( 1 - ( 1 + 5.5%)⁻⁶) / 5.5%) + 1,000,000 / (1 + 5.5%)⁶

= 74,932.9546296555 + 725,245.8330245964

= $800,178.79

8 0

3 years ago

Broihan Corporation has the following purchases budget for the last half of 2002:

olasank [31]

Answer:

b. $ 90,000.

Explanation:

Since the company pays half of the purchased amount at the time of purchase and the remainder in the following month. Cash disbursements in August are expected to be half of the amount purchased in July plus half of the amount purchased in August. Expected cash disbursements are:

$E=\frac{100,000}{2}+ \frac{80,000}{2}\\ E=\$90,000$

The answer is alternative b. $ 90,000.

6 0

3 years ago

Suppose the economy enters a recession. If government policymakersdashCongress, the president, and members of the Federal Rese

jonny [76]

Answer:

The correct answer is ii. The unemployment rate will rise in the short run but return to the natural rate of unemployment in the long run, and real GDP will drop below potential GDP in the short run but return to potential GDP in the long run.

Explanation:

The economic recession occurs when there is a decrease in economic activity within a specific country. If shock actions are not taken, the most likely thing that happens is that companies stop hiring staff because they will require much less labor. This situation is explained in Okun's law, which mathematically demonstrates the relationship between the unemployment rate and economic growth.

6 0

4 years ago

On January 2, 2019, Konrad Corporation acquired equipment for $ 850 comma 000. The estimated life of the equipment is 5 years o

Grace [21]

Answer:

The depreciation expense for the year under units of production method is $ 132,000

Explanation:

Computation of depreciation expense under the units of production method

Total cost of equipment $ 850,000

Salvage value of equipment <u>$ ( 14,000)</u>

Depreciable basis $ 836,000

Estimated useful life in hours 38,000

Depreciation per hour of usage $ 836,000 / 38,000 $ 22 per hour used

Total usage during the year 6000 hours

Depreciation expense 6000 hours * $ 22 per hour $ 132,000

3 0

4 years ago