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zmey [24]
2 years ago
9

A company started a new product, and in the first month started 100,000100,000 units. The ending work in process inventory was 2

0,00020,000 units that were 1000% complete with materials and 75u% complete with conversion costs. There were 100,000100,000 units to account for, and the equivalent units for materials was $6$6 per unit while the equivalent units for conversion was $8$8 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method
Business
1 answer:
sukhopar [10]2 years ago
4 0

Answer:

$240,000

Explanation:

Calculation for What is the value of the inventory transferred out, using the weighted-average inventory method

First step is to calculate the Equivalent material cost=

Equivalent material cost= 20,000×100%×$6

Equivalent material cost= 120,000

Second step is to calculate Equivalent conversion cost

Equivalent conversion cost=20,000×75%×8

Equivalent conversion cost=120,000

Now let calculate the value of the inventory transferred out, using the weighted-average inventory method

Inventory value transferred out= 120,000+120,000

Inventory value transferred out=$240,000

Therefore the value of the inventory transferred out, using the weighted-average inventory method is $240,000

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A commercial bank has $50 million in checkable-deposit liabilities and $10 million in actual reserves. The required reserve rati
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The bank’s excess reserves are $6 million.

The required reserve ratio is 8%. It means that banks should keep 8% in their deposits as required reserves. The bank has a deposit of $50 million. It means it has to maintain only $4 million(50×0.08 )i.e 8% of 50 million,  as a required reserve. Excess reserves are the reserve, over and above required reserves. If overall reserves are 10 million and required reserves are only 4 million then excess reserve =6 million (10 -4)

The reserve ratio is the portion of reservable liabilities that business banks must keep onto, rather than lend out or invest. this is a requirement decided with the aid of the country's primary bank, which in America is the Federal Reserve. it is also known as the cash reserve ratio.

A reserve assets ratio for a bank which units the minimal liquid reserves that a bank ought to hold in the event of a sudden boom in withdrawals. A high reserve property ratio may limit the lending that a bank is able to do – it must maintain better amounts of cash.

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5 0
1 year ago
Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% an
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Answer:

20,000,000= unemployed people

Explanation:

Giving the following information:

Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people.

The unemployment rate is the number of people of working age, disposed to work and looking for a job.

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0.05= unemployed people/ 400,000,000

400,000,000*0.05= unemployed people

20,000,000= unemployed people

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3 years ago
If an employee in a hospital does not follow the hospital's written standard of care and a patient is injured, the __________ is
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A practice in which eavesdroppers drive by buildings or park outside and try to intercept wireless network traffic is referred t
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The practice of "wardriving" involves a hacker driving around and using technology to find insecure wireless networks, possibly including ones in your house.

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The hacker could have access to that network, obtain private information, steal identities, or carry out other nefarious deeds. Are you in danger? It partly relies on how secure your home network is. It makes sense to take precautions against wardrivers for your network, devices, and data.

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8 0
1 year ago
The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30, 2017, that includ
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Answer:

The Journal entry at the beginning of the year is as follows:

Estimated revenue A/c                      Dr. $1,342,500

Estimated other financing sources-Bonds proceeds A/c Dr. $595,000

To Appropriations control                                                                     $960,000

To Appropriations-Other financing uses-operating transfer outs     $532,500

To Budgetary fund Bal.                                                                        $445,000

(To record entry at the beginning of the year)

8 0
3 years ago
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