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Elden [556K]
3 years ago
7

During December, Krause Chemical Company had the following selected data concerning the manufacture of Xyzine, an industrial cle

aner:
Production Flow Physical Units
Completed and transferred to the next department 100
Add: Ending work in process inventory 10(40% complete as to conversion)
Total units to account for 110
Less: Beginning work in process Inventory 20(60% complete as to conversion)
Units started during 90

All materials are added at the beginning of processing in this department, and conversion costs are added uniformly during the process. The beginning work in process inventory had $120 of raw materials and $180 of conversion costs incurred. Materials added during December were $540, and conversion costs of $1,484 were incurred. Krause uses the first-in, first-out (FIFO) process cost method. The equivalent units of production used to compute conversion costs for December were:

a. 110 units.
b. 104 units.
c. 100 units.
d. 92 units.
Business
1 answer:
Andre45 [30]3 years ago
8 0

Answer:

d. 92 units.

Explanation:

The computation of the equivalent units of production used to compute conversion costs is shown below:

= 20 units × 40% + (100 units - 20 units) × 100% + 10 units × 40%

= 8 units + 80 units + 4 units

= 92 units

Hence, the equivalent units of production used to compute conversion costs is 92 units

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In determining whether to issue a loan, banks are not allowed to ask about an applicant's
Firlakuza [10]

Answer:

country of origin.

Explanation:

Banks have a set of requirements that borrowers need to meet to qualify for a bank loan. The banks will ask questions to determine if the customer is eligible for a loan. Most of the questions pertain to the purpose of the loans and the customer's ability to repay.

The bank will ask about employment history, credit history, tax information, personal information, the purpose of the loan,  collateral, and other questions related to the ability to repay. A person's country of origin is unnecessary and may elicit elements of discrimination.

3 0
3 years ago
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James Company began the month of October with inventory of $32,000. The following inventory transactions occurred during the mon
Hitman42 [59]

Explanation:

The journal entries are shown below:

On October 12

Purchases ($47,500 x 0.99) $47,025

            To Account Payable  $47,025

(Being the purchase of merchandise is recorded)  

On October 12

Freight In $670  

         To Cash  $670

(Being the freight charges is recorded)  

On October 31

Account Payable $47,025  

              To Interest Expense $475

              To Cash  $47,500

(Being the payment for purchases is recorded)  

Account Receivable $31,400  

            to Sales Revenue  $31,400

(To record the sales on account)

On October 31  

Cost of Goods Sold $20,550  

Ending Inventory  $59,145

          To Beginning Inventory   $32,000

          To Purchases  $47,025

           To Freight In  $670

(Being recording the adjusting entry is made)

6 0
3 years ago
If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?
Jlenok [28]

Answer:

The correct answer would be option C, The price needs to increase.

Explanation:

In order to maintain a balance or equilibrium, there should always be a balance between the quantity demanded and the quantity supplied. If quantity demanded exceeds quantity supplied, it means people are demanding the product more and the supply of that product is not meeting the demand. In this scenario when there is more demand of a product than supply, the price of the product should increase in order to create a balance between the quantity demanded and supplied, because it is the law of demand that when demand increases, the prices of the product also increases and vice versa. So to maintain the equilibrium, the price of the product should increase. In this way demand will decrease and will reach a point where demand will meet the supply of the product.

5 0
3 years ago
1) Illustrate how the type of work that he or she does influences a person's lifestyle. For example, contrast a farmer, a factor
steposvetlana [31]

Answer:1)The type of one job influences his lifestyle

2)No

3) value of self services in an economy includes improved customer services,more convenient , reduced overhead cost, customer satisfaction, increase productivity.

Explanation:Type of job tells a lot about people lifestyle,eg a person who spend very long hours at work hardly have adequate rest and social life.

Contrasting between farmers, school teacher and factory worker,the factory workers are semi skilled,teachers skilled and farmer could be non skilled ,the school teacher schedule is always fixed 8am to 4pm for instance so they are more organized,they are mostly in formal attire while a factory worker run shifts and may be see in safety boots and overall and may have little or erratic schedules .the farmer on the other hand has no schedule ,has relaxed routine,wear casuals and not necessarily tidy,does things when willed as most are self employed.

Even in their eating habits,farmers eat more of fresh food,while teachers eat processed foods and factory workers are more likely to eat junks or snacks.

While a school teacher may be seen with books ,a factory worker may be seen with machines and equipment and farmers with tools ,tractors etc

2)An economy can only thrive on goods and services,as both are needed for survival,a service person need commodities like foods,clothes etc to survive while a good traders cannot do without services like transportation,banking etc

3)the value of self service include overhead cost reduction,self service involves customer serving themselves with limited involvement of a third party or vendor e.g payment at pos at gas station, uses of ATM for cash withdrawal etc.

The organization uses less resources like staff,PCs to run self service this fund can be invested in other areas.

Increase customer service occurs as a result of self service , customer can do their trasaction at their pace and convenience.

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3 years ago
A company wants to forecast demand using the simple moving average. If the company uses four prior yearly sales values (i.e., ye
Doss [256]

Answer:

142.5

Explanation:

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price forecast for 2006 = (100 + 120 + 140 + 210) / 4 = 570 / 4 = 142.5

The simple moving average (SMA) is just the average price for the previous years.

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3 years ago
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