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Kaylis [27]
3 years ago
8

For each of the following independent cases, use FIFO costing to determine the information requested. Required: a. In the beginn

ing inventory, 5,000 units were 40 percent complete with respect to materials. During the period, 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70 percent complete with respect to materials. How many units were started and completed during the period
Business
1 answer:
Ludmilka [50]3 years ago
3 0

Answer:

$35,000

Explanation:

Units started and completed means that out of the units completed and transferred, how many were started during the period. This figure is calculated in physical terms only. So there is no need to express any units in their equivalents.

So, this gives us an idea of how to calculate this :

Units started and completed = Units Completed and Transferred - Units in Beginning Work in Process

therefore,

Units started and completed = 40,000 units - 5,000 units = $35,000

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in a split offering, a) shares are issued from the corporation and sold by existing shareholders. b) all shares are issued to th
melisa1 [442]

In a split offering, we see that a) shares are issued from the corporation and sold by existing shareholders.

<h3>What is a split offering?</h3>

A split offering is a type of stock issuance that involves the issuing of new stock and existing stock that it is in the market already. This is why it is called a split offering - one side of the offering comes from the corporation, and the other comes from the existing shareholders.

With a split offering, the seller will be existing shareholders and not the company. This means that the corporation that issues the shares, will then cooperate with existing shareholders who will then be the ones to sell the shares.

Find out more on stock offerings at brainly.com/question/13049425.

#SPJ1

4 0
1 year ago
A dressmaker can sew 400 garments with 100 bolts of fabric and 1,500 hours of labor. Another dressmaker can sew 400 garments wit
faust18 [17]

Answer:

No, because the second method has lower total costs of production.

Explanation:

In a bid to make profits businesses must always compare different processes and choose the cheapest one.

This will eventually reflect in the profitability of the business.

In this instance let's get the cost of each process.

Fabric costs $110 a bolt and labor costs $20 an hour.

The first dress maker can sew 400 garments with 100 bolts of fabric and 1,500 hours of labour

Total cost = (100 bolts * 110) + (1500 * 20)

Total cost = $41,000

For the second dress maker he can sew 400 garments with 150 bolts of fabric and 1,000 hours of identical labour

Total cost = (150 *110) + (1000 * 20)

Total cost = $36,500

As can be seen the second dressmaker has a lower cost of production so he is more efficient than the first dress maker

7 0
3 years ago
Classify the following items as issuance of stock, dividends, revenues, or expenses. Then indicate whether each item increases o
Alborosie

Answer:

1. Dividends = It will be classified as <u>dividends.</u>

2. Rent Revenue = It will be classified as <u>revenues.</u>

3. Advertising Expense = It will be classified as an<u> expense.</u>

4. Stock holders pay cash into business = It will be classified as <u>Issuance of stock.</u>

<u></u>

Dividends are the share of revenue distributed to stockholders.

Revenues are income earned by the company.

Expense are the outflow of cash or bank payments for running the business.

Issuance of stock refers to collection of money by the company through issuing equity or preference shares.

4 0
3 years ago
Jackson Company manufactures three products from a joint process. Joint costs for the year amounted to​ $300,000. The following
son4ous [18]

Answer:

Joint costs allocated to Product Y = $60,000

Explanation:

Given:

Particular     Product Units     Produced Sales

X ​                       5,000               ​$70,000

Y                        ​3,000 ​              $30,000

<u>Z ​                       2,000 ​              $100,000</u>

<u>Total                   10,000         </u>

Joint costs allocated to Product Y = (Total Joint costs × Y's total unit) / Total units produced

Joint costs allocated to Product Y = ($300,000 × 3,000) / 10,000

Joint costs allocated to Product Y = $90,000

4 0
3 years ago
1. Nunes, Orta and Paulo are partners providing engineering services. Relevant data regarding income-sharing relationships and c
Bas_tet [7]

Answer:

D) $165,000

Explanation:

Partner        Capital Balance             Income Share

Nunes              $250,000                        20%

Orta                  $180,000                         30%

Paulo                $150,000                         50%

Totals               $580,000                       100%

Orta's balance - capital balance = $180,000 - $159,000 = $21,000 which will increase the partnership's total capital balance

partnership's capital balance = $421,000

the extra $21,000 will be divided according to each remaining partner's income distribution:

  • Paulo = (50%/70%) x $21,000 = $15,000
  • Nunes = (20%/70%) x $21,000 = $6,000

Paulo's capital balance = $150,000 + $15,000 = $165,000

5 0
3 years ago
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