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Vesna [10]
2 years ago
12

Metaline Corp. uses the weighted average method for inventory costs and had the following information available for the year. Th

e number of units transferred to finished goods during the year is: Beginning Work in Process (40% complete, $1,100)200 units Ending inventory of Work in Process (80% complete)400 units Total units started during the year3,200 units Multiple Choice 3,200 units. 3,000 units. 3,400 units. 3,160 units.
Business
1 answer:
sweet-ann [11.9K]2 years ago
4 0

Answer:

Results are below.

Explanation:

<u>The weighted average method blends the costs and units of the previous period with the costs and units of the current period.</u>

Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production

Units completed= (3,200 + 200) - 400= 3,000

Equivalent units of production= 3,000 + 400*0.8

Equivalent units of production= 3,320 units

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A firms supply curve is equal to _________________ above the minimum point on the ________________curve. Select the correct answ
Sergio [31]

Answer:

The correct answer is: marginal cost; average variable cost.

Explanation:

The supply curve of a perfectly competitive firm is equal to its marginal cost curve above the minimum point of its average variable cost. This happens because the firm supplies at the point where its price is equal to marginal cost and covering the average variable cost.  

In case the product price does not cover the average variable cost, the firm will stop production.

3 0
3 years ago
Binder Corporation agreed to build a warehouse for a client at an agreed contract price of $4,000,000. Expected (and actual) cos
Rainbow [258]

Answer:

The correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

Explanation:

The formula for cost to cost method is expected or actual cost incurred to date divided by the total cost of the project or contract.

Therefore, we have:

Total cost = Cost in 2017 + Cost in 2018 + Cost in 2019 = $640,000 + $1,600,000 + $800,000 = $3,040,000

Cost in 2017 contribution to total cost = Cost in 2017 / Total cost = $640,000 / $3,040,000 = 0.21

Cost in 2018 contribution to total cost = Cost in 2018 / Total cost = $1,600,000 / $3,040,000 = 0.53

Cost in 2019 contribution to total cost = Cost in 2019 / Total cost = $800,000 / $3,040,000 = 0.26

Revenue in 2017 = Cost in 2017 contribution to total cost * Contract price = 0.21 * $4,000,000 = $840,000

Revenue in 2018 = Cost in 2018 contribution to total cost * Contract price = 0.53 * $4,000,000 = $2,120,000

Revenue in 2019 = Cost in 2019 contribution to total cost * Contract price = 0.26 * $4,000,000 = $1,040,000

Therefore, net income for each year 2017 through 2019 using the cost-to-cost method can be computed as follows:

Net income for year 2017 = Revenue in 2017 - Cost in 2017 = $840,000 - $640,000 = $200,000

Net income for year 2018 = Revenue in 2018 - Cost in 2018 = $2,120,000 - $1,600,000 = $520,000

Net income for year 2019 = Revenue in 2019 - Cost in 2019 = $1,040,000 - $800,000 = $240,000

Therefore, the correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

6 0
3 years ago
Read 2 more answers
Joe's Juice Shop operates in a monopolistically competitive market. Joe's is currently producing where its average total cost is
mars1129 [50]

Answer:

decrease and average total cost to increase

Explanation:

Based on the information provided within the question it can be said that in this scenario we would expect Joe's output to decrease and average total cost to increase. This is mainly due to the fact that Joe's Juice Shop is in a monopolistically competitive market meaning that one company controls and dominates the entire market which will ultimately put Joe's Juice Shop out of business.

7 0
3 years ago
Read 2 more answers
Using examples explain what inputs eBay might be using in conducting its business . What are eBay outputs ?
lawyer [7]
Typically, a simple way to think of an input is anything that costs money. These can be both good and bad things. A simple example would be: if I had a machine that made candy: my inputs would be the energy required to run the machine, the person required to work the machine, and the ingredients I had to put in to make the candy. My outputs might be the candy the machine made and the happiness it gave to people who ate it. A negative output might be that it made people unhealthy. 

As an internet company eBay does not have many of the typical inputs of doing business. For example, it does NOT have the cost of physical stores nor does it have the cost of depreciating inventory or any machines. For eBay, some examples of inputs would be it's people such as software engineers, marketing team, and executive staff. All overhead such as office space and the electricity to power its office space would be another example. Other examples could include the physical code behind eBay's software and money used to finance the company, and the data warehouses used to store everything. 

Outputs can be thought of as the value a company creates. eBay's outputs are also somewhat atypical. eBay does not create a physical product that they then sell so that makes this a challenging question. You could argue that eBay's store or its platform is an output. All the data it produces as a company is an output and has a lot of value. Since eBay allows people across the world to open up their own store online, you could say it's creating the social good of jobs or entrepreneurship "global employment" through this action (eBay has supported this publicly as well so you could look up more about it on Google). Another output could be eBay stores created by sellers. eBay owns PayPal so if you can think of any related to PayPal you could include those as well and cite that eBay owns the company. 

Hope that helps
8 0
3 years ago
In the case of a small country, producer surplus Group of answer choices is not changed by tariffs or quotas. increases the same
rusak2 [61]

Answer:

increases the same amount with tariffs and equivalent quotas.

Explanation:

In Economics, a surplus refer to the amount by which the quantity supplied of a good exceeds the quantity demanded of the same good.

A producer surplus is the amount by which a buyer is willing to pay for a particular good minus the cost of producing the same good.

On the other hand, a consumer surplus is the amount by which a buyer is willing to pay for a particular good minus the amount the buyer actually pays for it.

In the case of a small country, a producer surplus increases (raises) the same amount (an amount a buyer is willing to pay for a good minus the cost of producing the good) with tariffs and equivalent quotas.

A tariff can be defined as tax levied by the government of a country on goods and services imported from another country.

Generally, tariffs can reduce both the volume of exports and imports in a country. In order to generate revenues, domestic government make use of tariffs while quotas do not generate any revenue for them.

4 0
3 years ago
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