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e-lub [12.9K]
3 years ago
7

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the

first processing department consisted of 1,300 units. The costs and percentage completion of these units in beginning inventory were:Cost PercentCompleteMaterials costs $ 6,600 65%Conversion costs $ 7,700 45%A total of 8,300 units were started and 6,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:CostMaterials costs $ 126,400Conversion costs $ 207,900The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.What are the equivalent units for conversion costs for the month in the first processing department
Business
1 answer:
Evgesh-ka [11]3 years ago
3 0

Answer:

 7,780 units

Explanation:

When using the weighted-average method in its process costing system we are only interested in the equivalent units of the output in that particular process. Outputs being Units completed and transferred and units in ending work in process.

Units in Ending Work in Progress calculation

Units in Ending Work in Progress = 1,300 units + 8,300 units - 6,800 units

                                                       = 2,800 units

Conversion Costs

Units completed and transferred (6,800 x 100%)             6,800

Units in Ending Work in Progress (2,800 x 35 %)                980

Equivalent units of Production  - Conversion Costs         7,780

Conclusion

the equivalent units for conversion costs for the month in the first processing department are   7,780 units

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The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below.
Arlecino [84]

Answer:

Date   Accounts Titles & Explanation  Debit  Credit

Dec 31    Rent Expense                          $2,040

               ($6,120 *2/6)

                      Prepaid Rent                       $2,040

Dec 31     Deferred Revenue                 $525

                      Service Revenue                           $525

Dec 31    Salaries Expense                     $700

                      Salaries Payable                           $700

Dec 31     Supplies Expense                  $2,390

                ($3,100 - $710)

                      Supplies                                       $2,390

       

              Demon Deacons Corporation

                 Adjusted Trial balance

                  December 31, 2021

         Accounts             Debit$        Credit$

Cash                               9,100

Account receivable       14,100

Prepaid rent                   4080

Supplies                          710

Deferred revenue                               1,575

Salaries payable                                  700

Common stock                                    11,000

Retain earnings                                   5,100

Service revenue                                 45,245

Salaries expenses          31,200

Rent expenses                2,040

Supplies expenses         <u>2,390</u>          <u>              </u>

Total                                $<u>63,620</u>     $<u>63,620</u>

Prepaid rent = 6,120 - 2,040 =  4080

Supplies = 3100 - 2390 = 710

Deferred revenue = 2,100 - 525 = 1575

8 0
3 years ago
On January 1, 20X9, Pallet Company acquires 80 percent ownership in Slat Corporation for $200,000. The fair value of the noncont
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Answer:

<em>Consolidated Assets 850,000</em>

Explanation:

We need to calcualte the alue of the purchased portion of Slat.

total assets - non-controlled = proportional owned assets

250,000 - 50,000 = 200,000

The consolidated net assets would be:

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Slat Company    250,000

non-controlling    (50,000)

<em>Consolidated Assets 850,000</em>

7 0
3 years ago
Are real people answering these questions? Do u get paid?
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Answer:

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Answer:Yield to maturity is 9.59%;  After tax cost of debt =7.672%

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Where C – Interest payment    = $90

FV – Face value of the security

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PV – Present value/curent market value = $960

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imputing the values and calculating,

yield to maturity ={ C + (FV-PV)/t} /  {(FV +PV)/2}

= $90 + (1000-960)/10} / 1000 + 960 /2

$90 + 4= $94 /980= 0.0959

therefore Yield to maturity is 9.59%

B)   After tax cost of debt =    Yield To Maturity  x (1 - tax rate)

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4 0
3 years ago
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