1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Match each of the options above to the items below.
Talja [164]

Answer:

a. Revenues, expenses. and dividends - Temporary accounts

b. List of permanent accounts and their balances - Post-closing trial balance

c. Transfer of temporary balances to retained earnings - Closing entries

d. List of permanent and temporary accounts and their balances - Adjusted trial balance

e. Assets, liabilities, and stockholders' equity - Permanent accounts

5 0
2 years ago
Which of the following statements about the income statement is false? a. The single-step format groups all income items togethe
Sophie [7]

Answer:

The statement which is false is D) .

Explanation:

Income statement helps in assessing the current and past performance of the company, it also helps in predicting the future performance and in assessing the risk present in future in obtaining cash flows. Income statement are prepared through two methods either single step format ( which is used by sole proprietor and partnership firms ) or multi step format ( used by corporations ) .

In the single step format , all the income items are group together and are subtracted from the total cost, while in multi step format , a company breaks all the sources from where the revenues and cost have come, it is used to take out various measures like gross profit, operating profit etc.

A common size statement is one of the type of income statement where each account item is represented as a percentage of total sales value.

Option D is false because discounted operations and extraordinary transactions appear on both the single step and multi step format , these transactions are written as written as footnote below the statement.

5 0
3 years ago
Why might a bank offer to make a loan to a customer at a low initial rate that will increase after a set period of time?
erica [24]
To make the loan look more attractive and competitive now
3 0
3 years ago
Read 2 more answers
Kingbird Corporation (a calendar year C corporation) reports the following income and expenses this year: Income from operations
Artyom0805 [142]

Answer:

$7,500

Explanation:

Taxable income:

= Income from operations + Dividends received - Expenses from operations

= $200,000 + $15,000 - 140,000

= $75,000

Deductions is allowed only to the maximum extent of 10% of the taxable income of the corporation.

Therefore,

Kingbird's charitable contribution deduction:

= 10% of Taxable income

= 0.1 × $75,000

= $7,500

8 0
3 years ago
If the government increases its spending when the economy is expanding, automatic stabilizers _____ the government spending mult
SVETLANKA909090 [29]

Government increases its spending when the economy is expanding, automatic stabilizers increase the government spending multiplier.

Automatic stabilizers offset fluctuations in economic interest without direct intervention by policymakers. when incomes are excessive, tax liabilities rise and eligibility for authorities blessings falls, with no trade in the tax code or other legislation.

All through a monetary increase, automated stabilizers enable the government to chill off expansion or even fight inflation. while earnings fall, the identical stabilizers can position cash returned in the machine by means of tax refunds, welfare assessments, and other strategies to permit huge quantities of government spending.

Learn more about the government stabilizers here:brainly.com/question/25558588

#SPJ4

4 0
2 years ago
Other questions:
  • Pearson Company bought a machine on January 1, 2014. The machine cost $144,000 and had an expected salvage value of $24,000. The
    12·1 answer
  • The Cash Over and Short account:Select one:a. Is used to record a credit balance in the cash account.b. Is an income statement a
    11·1 answer
  • Develop an arithmetic example that illustrates how a nation could have an absolute disadvantage in the production of two goods a
    7·1 answer
  • According to the​ video, Goodwill has often had to cut prices due to poor​ ______ conditions.
    15·2 answers
  • The price tag on a golf ball in 1975 read $0.20, and the price tag on a golf ball in 2005 read $2.00. The 1913 was 32.3, and the
    5·1 answer
  • John works in accounting. He received a birthday gift from a close personal friend, who happens to be employed by a supplier to
    10·1 answer
  • The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the prev
    14·1 answer
  • Which option should be used to commit a record in an Access table?
    14·1 answer
  • MC Qu. 134 Mustang Corporation has accumulated... Mustang Corporation has accumulated the following accounting data for the mont
    11·1 answer
  • Suppose that, with free trade, the world price of the product is $15. what is the value of consumer surplus?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!