Answer:
Units completed= 38,400
Units in process= 5,600
Explanation:
Giving the following information:
Beginning inventory= 0
During January:
44,000 units started
30,000 completed
14,000 remained in the process
The ending inventory in the Mixing Department was 60% complete concerning conversion costs.
<u>To calculate the equivalent units under the weighted average method, we need to use the following structure:</u>
Weighted average:
Beginning inventory= 0
Units completed in the period= 30,000
Ending inventory WIP= 14,000*0.6= 8,400
Units completed= 38,400
Units in process= 5,600
Answer:
$0.45
Explanation:
Given that
Desired lot size = 60
Annual demand = 40000
Holding cost = 20 per unit
Daily production rate = 320
Workdays per year = 250
Recall that
S = (Q^2 H[1 - d/p])/ 2d
Where S = setup cost
D = annual demand
Q = order quality
P = daily production
Seeing that daily demand is not given. We find d
d = 40000/250 = 160
Therefore
S = [60^2 20( 1 - 60/320)] / 2 × 40000
S = 3600 20 ( -1.12)/ 80000
S = $0.45
Answer:
$3,000
Explanation:
Inventory Sold 2,000*$50=$100,000
Warranty Expense $100,000*3%=$3,000
Therefore $3,000 would be reported in warranty liability account.
When any claim for warranty is reported,the liability will be set off by debiting it and corresponding effect to inventory or stores will be taken.
Answer:
d. $920 increase liabilities, increase expenses
Explanation:
The journal entry is given below:
On March 31
Interest Expense Dr. $920 ($92,000 × 4% × 3 ÷ 12)
To Interest Payable $920
(being interest expense is recorded)
Here interest expense is debited as it increased the expense and credited the liabilities as it also increased the liabilities
Therefore the option d is correct
