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Fed [463]
3 years ago
15

Exercise 5-6 Equivalent Units of Production-Weighted-Average Method [LO5-2] Highlands Company uses the weighted-average method i

n its process costing system. It processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below: Percent Completed Tons of Pulp Materials Labor and Overhead Work in process, June 1 80,600 81 % 25 % Work in process, June 30 51,900 42 % 17 % Started into production during June 301,100 Required: 1. Compute the number of tons of pulp completed and transferred out during June. 2. Compute the equivalent units of production for materials and for labor and overhead for June.
Business
1 answer:
BaLLatris [955]3 years ago
7 0

Answer:

1. Tons of pulp completed and transferred out in June:

= Beginning Work in Process + Started into production in June - Ending WIP

= 80,600 + 301,100 - 51,900

= ‭329,800‬ tons

2. Equivalent units for Materials:

= Units completed and transferred out + Ending Equivalent units

= ‭329,800‬ + (51,900 * 42%)

= ‭351,598‬ tons

Equivalent units for Labor:

= 329,800 + (51,900 * 17%)

= ‭338,623‬ tons

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Which of the following reasons would cause a company to reject an offer to accept business at a special price?
zysi [14]

Answer:

The additional sale will not conflict with regular sales.

Explanation:

Accept business at a special price if the additional sales conflict regular sales. That is, special price must maintain the status quo or improve it.

8 0
3 years ago
Public-opinion polls in a small city have revealed that citizens want more resources spent on public safety, an annual fireworks
Gre4nikov [31]

Answer:

The correct answer is Community swimming pools.

Explanation:

Taking into account the duties of public entities that are not susceptible of being assigned to individuals, within the three requests only that of community pools can be privatized due to the low relationship they have with the responsibilities of a public entity of this type. The other two requests are of a different nature, and, despite having involvement with other forces or interests, the local government must ensure proper management of public resources that is evident in the citizens.

3 0
3 years ago
A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this
dimaraw [331]

Answer:

Increase and remain the same respectively

Explanation:

Given the above information, we know that current ratio is computed as;

Current ratio = Current assets ÷ Current liabilities

Current ratio = $60,000 ÷ $34,000

Current ratio = 1: 1.76

Working capital is computed as;

= Current asset - Current liabilities

= $60,000 - $34,000

= $26,000

As a result of the above, the current ratio increased because of the reduction in the current liabilities value while the working capital remains the same.

8 0
3 years ago
Justin, age 52 and Jamie, age 49 live in California, are married, and file a joint return. Their combined salary for 2019 is $20
8090 [49]

Answer:

The correct answer is (e) None of the choices listed are correct.

Explanation:

Solution

Given that:

1. The Qualified dividend is the dividend taxed at capital gain tax rate and unqualified dividend taxed at individuals normal income tax rate. Therefore qualified dividend and non qualified dividend of $1500 &$500 included in gross taxable income.

2. Earned on US treasurers is exempt at state level but fully taxable at federal level. $1000 received taxable

3. State tax refund; don't report the state tax refund if didn't itemized deductions on federal tax return. Consider $1000 received as state tax refund required to be reported because of itemized deductions.

4. Section 125 of IRC specifies that cafeteria plans are exempt from calculation of gross income for federal taxation. Therefore $5000 cafeteria plan provided by employer is exempt.

5. During the year any state or local taxes paid and property taxes paid are deductible. Therefore $9000 and $3000 deductible subject to maximum $10000 of income tax and mortgage interest is $14000.

Now,

The Income is

The Salary= $200000

Add

The Qualified dividend= $1500

Non-qualified dividend =$500

Income from US treasurer $1000

State tax refund =$1000

Gross income$204000

The Less deductions.

Mortgage interest 14000

Income ans property tax is$10000

Tax able income= $ 180000

Therefore the taxable income is =$180000

8 0
3 years ago
Orange Corporation has budgeted sales of 26 comma 000 ​units, targeted ending finished goods inventory of 8 comma 000 ​units, an
Orlov [11]

Answer:

C. 30 comma 000 units

Explanation:

Inventory to be produced = Sales +ending inventory - Beginning inventory

= 26,000 + 8,000 -4,000

=30,000 Units (Answer is C. 30 comma 000 units ).

4 0
3 years ago
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