Answer:
Total equivalent unit 86,688
Explanation:
We will use the weighted average method of valuation.
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.
</em>
Equivalent units = Degree of completion (%) × Number of units
Item Tons Working Equivalent units
Completed unit 82,400 82,400× 100% 82,400
Closing inventory 7,416 7,416 × 60% <u> 7,416 </u>
Total equivalent unit 86,687.6
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Answer:
Correct option is (C)
Explanation:
Given:
Sales revenue = $440,000
Cost of goods sold = $180,000
Gross profit is sales revenue less cost of goods sold.
Gross profit = 440,000 - 180,000
= $260,000
Other indirect expenses such as advertising, interest, salaries, utilities and income tax expenses are deducted from gross profit to arrive at net profit.
Answer:
The following multiple choices are missing:
$8.10 per machine-hour
$2.10 per machine-hour
$3.90 per machine-hour
$6.00 per machine-hour
The predetermined overhead rate is $6
Explanation:
The predetermined overhead rate is the sum of the fixed manufacturing overhead cost per machine hour and variable manufacturing overhead per machine hour
fixed manufacturing overhead cost per machine=total fixed manufacturing overhead/total machine hours
fixed manufacturing overhead=$312,000
total machine hours is 80,000 hours
fixed manufacturing overhead cost per machine=$312,000/80,000=$3.9
variable manufacturing overhead per machine hour is $2.10
Predetermined overhead rate =$3.9+$2.1=$6
The last option is the correct one
Answer:
6
Explanation:
Marginal Utility is defined as the satisfaction that an individual gains after consuming additional units of a certain goods or services. Andy has two goods available to consume cola and potato chips. Andy will consume 6 units of potato chips to maximize his marginal utility. The cola is also consumed by Andy to satisfy his marginal utility.