Answer:
<em>Cost per equivalent unit for conversion cost = $116.66</em>
<em> </em>
Explanation:
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required to a complete a set of work is done in the period under consideration.So there is no separation of the completed units into opening inventory and fully worked.
</em>
To determine the cost per equivalent unit, we use the formula below:
<em>Cost per equivalent unit = $70,000/600</em>
<em> = $116.66</em>
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Answer: See explanation
Explanation:
The amount of depreciation for the month of January using the straight line depreciation method will be:
= (Cost - Salvage Value) / Life of Assets / 12 Months
= ($64,800 - $0) / 6 Years / 12 Months
= $10800/12
= $900 per month
The adjusting entry for depreciation on January 31 will be:
Dr Depreciation Expense - Computer Equipment $900
Cr Accumulated Depreciation-Computer Equipment $900
(To record the depreciation expense)
Answer:
Explanation:
Debit cards typically pull funds from a checking account, while credit cards charge purchases using a line of credit. With a debit card, you're spending money from your own funds. Use a credit card and you're borrowing the money and eventually will have to pay it back to the card issuer, perhaps including interest.
Answer:
We will not hire a security guard.
Explanation:
Data provided
Merchandise stolen cost of every hour = $25
Hourly market wage for a security guard = $33
According to the given situation, The hourly loss is $25, and the hourly cost is $33, even if the shopkeeper keeps a security guard, then the cost per hour is $33, so the store loss increases by $33 - $25 = $8, so we will not hire the security guard to maximize the profit.
Answer:
A list of specific steps needed to be done to reach a goal
Explanation:
An action plan shows the steps that must be taken to achieve a specified objective. It is a document that outlines the path that needs to be followed to meet the set goals. An action plan gives details on the of every step, and its relevance to attaining the overall goal.
<u>The details contained in each step include </u>
- The financial resources required to accomplish the step
- Source of the finance
- The tasks that need to be performed
- The individual to perform each task
- The supervisor of the step
- The desired outcome from the step
