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Anuta_ua [19.1K]
3 years ago
12

The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished g

oods during a recent period. Of these units, 32,000 were in process at the beginning of the period. The other 48,000 units were started and completed during the period. At period-end, 17,500 units were in process.
Prepare the department’s equivalent units of production with respect to direct materials under each of the three separate assumptions using the FIFO method for process costing.
Business
1 answer:
charle [14.2K]3 years ago
4 0
Answer:
1. 96,000
2. 92,000
3. 89,600
Explanation:
The computation of given question is shown below:-
1. Total Equivalent units of production
Units Percentage of Equivalent units of
material production material
Goods completed 80,000 100% 80,000
Ending goods in
process 16,000 100% 16,000
Total Equivalent units of production 96,000
2. Total Equivalent units of production
Units Percentage of Equivalent units of
material production material
Goods completed 80,000 100% 80,000
Ending goods in
process 16,000 75% 12,000
Total Equivalent units of production 92,000
3. Total Equivalent units of production
Units Percentage of Equivalent units of
material production material
Goods completed 80,000 100% 80,000
Ending goods in
process 16,000 60% 9,600
Total Equivalent units of production 89,600
So, for computing the all three points of Equivalent units of production we simply added the Goods completed of Equivalent units of production material with Ending goods in process of Equivalent units of production material. Hope this helps! Mark brainly please!
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In the year 2020, a divorced woman under age 50 collects $50,000 of alimony and child support as her sole source of income. The
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The available options are:

A. No contribution can be made because the woman does not have earned income

B. A contribution of up to $6,000 is permitted, but the contribution is not tax deductible.

C. A tax deductible contribution of up to $7,000 is permitted

D. A tax deductible contribution of up to $9,000 is permitted

Answer:

No contribution can be made because the woman does not have earned income

Explanation:

Unlike in the previous years before 2019, concerning divorce agreements, alimony is now declared to be no longer deductible by the payor and at the same time is considered to be a tax-free income to the recipient. In essence, this indicates that alimony is no longer qualifies as earned income and therefore, cannot be utilized to fund an Individual Retirement Account.

Hence, in this case, since it is , year 2020, the correct answer is "No contribution can be made because the woman does not have earned income."

8 0
2 years ago
There is a difference between the income tax payable account and the income tax expense account in the financial statement of th
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C. Accounts Payable

Income tax expense is the amount that your company calculates for taxes, whereas income tax payable is the actual amount calculated by the IRS that the company owes which is recorded as a liability in accounts payable until the tax bill is paid off.

5 0
3 years ago
In a proceeds transaction: I. a customer directs that a position be sold; and the funds generated from the sale be used to buy a
Serggg [28]

Answer:

I and  IV

Explanation:

A proceed transaction is a type of transaction in securities where a broker uses the proceeds of the sales of a security to buy another security , still constituting a transaction. (option 1)

A proceed transaction is subjected to a combined mark - up or commission , where the mark up earned on the disposed security is added to the mark up earned on the new security bought in replacement , which must be reasonable and fair. (option iv)

6 0
3 years ago
Consider two communities. In Mill Town, two families earn $10000 each, six families earn $75,000 each, and two earn $80,000 each
Nezavi [6.7K]

Answer:

a. The income inequality ratio in Mill Town is 14.06%.

b. The income inequality ratio in Pasture Town is 11.77%

c. Mill Town therefore has the more unequal distribution of income

Explanation:

Note: Kindly see the attached file for the calculation of the standard deviation and the mean.

The income equality can be determined using the Coefficient of variation (CV) for stated as follows:

IE = SD ÷ Mean ........................................... (1)

Where,

IE = Income inequality

SD = Standard deviation

In more equal societies, IE will be smaller.

We can therefore proceed as follows:

a. What is the income inequality ratio in Mill Town?

SD = 8,857

Mean = 63,000

IE = 8,857 ÷ 63,000  = 0.1406, or 14.06%

b. What is the income inequality ratio in Pasture Town?

SD = 8,353

Mean = 71,000

IE = 8,353 ÷ 71,000  = 0.1177, or 11.77%

c. Which community has the more unequal distribution of income?

Since the 14.06% income inequality ratio of Mill Town is higher than 11.77%  income inequality of Pasture Town, Mill Town therefore has the more unequal distribution of income.

Download xlsx
4 0
2 years ago
A customer has requested that Lewelling Corporation fill a special order for 2,400 units of product S47 for $36 a unit. While th
yKpoI14uk [10]

Answer:

Effect on income= $38,640 increase

Explanation:

Giving the following information:

Units= 2,400

Seling price= $36

Variable cost per unit:

Direct materials $4.80

Direct labor 4.00

Variable manufacturing overhead 1.90

Total variable cost= 10.7

Increase in variable cost= $1.70

Increase in fixed costs= $18,000

<u>Because it is a special offer, there is unused capacity, and other sales will not be affected, we will take into account only the incremental fixed costs (besides the variable costs).</u>

Sales= (2,400*36)= 86,400

Total variable cost= 2,400*(10.7 + 1.7)= (29,760)

Increase fixed costs= (18,000)

Effect on income= $38,640 increase

6 0
3 years ago
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