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MAXImum [283]
2 years ago
11

Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of

the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the conversion cost per unit (to the nearest cent) would be:
Business
1 answer:
JulijaS [17]2 years ago
6 0

Answer:

Equivalent unit of conversion = Unit completed and transferred out+Ending WIP*Percent completion

= 15000+(3000*75%)

Equivalent unit of conversion = 17250

Total cost of conversion cost = 4500+32450+18710 = 55660

Cost per equivalent unit of conversion Cost = Total Cost/Equivalent unit = 55660/17250 = 3.23

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An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost of $
Olenka [21]

Answer:

The after-tax salvage value of the asset is:

= $793,000.

Explanation:

a) Data and Calculations:

Asset acquisition cost = $6,020,000

Salvage value = $1,220,000

MACRS Depreciation Expenses = $4,800,000

Project useful life or project duration = 5 years

Tax rate = 35%

Tax expense = $427,000

After-tax salvage value = $793,000 ($1,220,000 - $427,000)

b) The salvage value of the project asset is the recovery or residual value after depreciation expenses have been recognized over the project asset's useful life.  Depreciation is an accounting method of spreading the cost of an asset over its useful life.  There are many depreciation methods, including straight-line, double-declining, unit-of-production, sum-of-the-years digits, etc.

6 0
2 years ago
Haley is a corporate certified public accountant (CPA) working on a new budget. When she lists the company’s liabilities, which
pshichka [43]

Answer:

None of the listed items would fall under the category of a liability

Explanation:

A liability is a present obligation that entails an outflow of economic resources (e.g cash) to settle. For an item to be classified as a liability it must relate to an event that had happened (i.e in the past) and not the future.

Computer software is likely an asset of a company. The payment for same, if not made already, can then be a liability.

Owners' equity is a contribution by the owner to further the business objectives.

Marketable securities are assets of the company, precisely current assets since it is assumed that they can be convertible to cash in a short while.

Employees' wages and salaries are expenses. It is only when they have not been paid as at when due i.e when the performance obligation has been satisfied (e.g workers have worked for a full month to which the salary relates) that it becomes a liability.

8 0
3 years ago
Mudvayne, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 11 years to maturity that is
ale4655 [162]

Answer:

3.56%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

NPER = 11 × 2 = 22 years

Present value = $1,000 × 104% = $1,040

Future value = $1,000

PMT = 1,000 × 4% × (6 months ÷ 12 months)  = $20

The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the answer would be 3.56% ( 1.78 × 2)

7 0
2 years ago
An assessor explains to you that the market value of your property was converted to the assessed value using what's called an as
Anna11 [10]

The assessment ratio, which is used to convert the value of property to the assessed value, can also be considered <u>Equalization Rate</u>.

<h3>What is the equalization rate?</h3>

The equalization rate is the ratio of the total assessed value (AV) to a municipality's total market value (MV).

The equalization rate is a measurement of a municipality's level of assessment (LOA) by the state.

This implies that the municipality determines the AV while the state determines the MV.

Thus, the assessment ratio, which is used to convert the value of property to the assessed value, can also be considered <u>Equalization Rate</u>.

Learn more about the equalization rate at brainly.com/question/5428406

#SPJ1

5 0
2 years ago
Which statement about demand is true?
NISA [10]

Answer:

B. the demand for a product and its price has a direct relationship

Explanation:

demand comes from the price which ultimately effects the proportions with the consumers purchasing the product. if the product is good enough with a fair price to come with it, the demand will increase, or if a product becomes more scarce the demand for it will increase along with the price raising.

3 0
2 years ago
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