Select the correct answer.

During August, the Filtering Department of Speedwell, Inc. Had a beginning Work-IN Process Inventory balance of 160 units with c

Veseljchak [2.6K]

Answer: 320 units

Explanation:

The equivalent units of production for transferred in units in the Filtering Department in August under the first-in, first-out (FIFO) method goes thus:

Total units completed= 160 units + 290 units = 450 units

Beginning WIP = 160 units

Ending WIP = 30 units

Equivalent units of production:

= 450 + 30 - 160

= 480 - 160

= 320 units

8 0

3 years ago

Cameron Tiller is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and do

kozerog [31]

Answer:

His regular earnings ( based on regular rates) is $480 while his total earnings for the week ended March 15 is $738.

Explanation:

Regular rate = $12 per hour

Rate for hours in excess of 40 hours per week

= (3/2) × $12

= $18

Rate for hours for Sunday is double

= 2 × $12

= $24

During the week ended March 15, 9 hours each day from Monday through Friday, 6 hours on Saturday, and 4 hours on Sunday

Period in excess of 40 hours during the week

= (9 × 5) + 4 - 40

= 9

Total regular earning = 40 × $12

= $480

Additional earnings = (9 × $18) + (4 × $24)

= $162 + $96

= $258

Total earnings = $480 + $258

= $738

4 0

3 years ago

It is the end of the year but not the end of the pay period. How will this affect the balance sheet?

Nataliya [291]

Answer:

This has no effect on the period-end balance sheet.

Explanation:

A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

According to the question asked the balanced sheet was prepared before the pay period came so this effect will not affect the balance sheet.

8 0

3 years ago

Read 2 more answers

For the current year ($ in millions), Central Park Corp. had $80 in pretax accounting income. This included bad debt expense of

KatRina [158]

Answer:

$69

Explanation:

Calculation for Central Park's taxable income

Pretax accounting income $80

Less Temporary differenceDepreciation (15)

($35 – $20)

Bad debt expense $4

($6 – $2)

Taxable income$69

($80-$15+$4)

Therefore Central Park's taxable income will be $69

8 0

3 years ago

Last year, Jose had to invest. He invested some of it in an account that paid simple interest per year, and he invested the rest

VladimirAG [237]

Answer:Please refer to the explanation section

Explanation:

The question is incomplete. We do not have the rate interest for both accounts. We also do not know how much is invested in each account. The question also has a typo, the question says "he invested some of it in an account that paid simple interest per year and invested the rest in an account that paid simple interest per year". We will make some assumption in order to provide a proper solution to this question

Assumptions:

Firstly we will assume he invested in a simple interest account and a compound interest account. assume

The total investment is $1000. $5000 is invested in each account.

Therefore the Present Value (PV) is $5000 for both accounts

Interest rate (R) is 10% per year for simple interest and 10% per per year Compounded monthly for compound interest account

Period (n) = 1 year

Simple Interest Account

Future Value (Simple Interest) = P(1 + Rn)

Future Value (Simple Interest) = $5000(1 + 0.10 x 1) = $5500

Interest from Simple interest account = 5500 - 5000 = $500

Compound interest Account

Future Value (Compound interest) = P(1 + R)^n

Future Value (Compound interest) = $5000(1 + 0.10/12)^12 = 5523.565337

Interest form Compound interest account = 5523.57 - 5000 = $523

compound interest account earned more interest than Simple interest Account

5 0

3 years ago

Read 2 more answers