Hung jury is the answer
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Answer:
(A) 18,400 units
(B) 12,940 units
Explanation:
The computation of the equivalent units of production for
(A) Material = Units transferred out + Ending work in process
= 9,300 units + 9,100 units
= 18,400 units
(B) Conversion = Units transferred out + (Ending work in process × conversion percentage)
= 9,300 units + 9,100 units × 40%
= 9,300 units + 3,640 units
= 12,940 units
Answer:
The Journal entry is as follows:
Cash A/c Dr. $288,000
To Unearned basketball ticket revenue A/c $288,000
(To record the sale of the season tickets)
Workings:
Given that,
Total number of tickets sold = 4,800
Selling price of ticket = $60 each
Cash = season basketball tickets sold × Selling price of each ticket
= 4,800 tickets × $60 per ticket
= $288,000