Answer:
$21.44
Explanation:
Calculation for the cost per equivalent unit for materials for the month in the first processing department
First step
Units completed and transferred out $7,500
Ending inventory($800+$8,400-$7,500)*70% Ending inventory =1,700*70%
Ending inventory =$1,190
Equivalent units for Materials $8,690
($7,500+$1,190)
Total materials costs $186,300
Second step
Cost per equivalent unit for materials=Total materials costs÷ Equivalent units for Materials
Cost per Equivalent unit for Materials $186,300÷$8,690
Cost per Equivalent unit for Materials=$21.44
Therefore the cost per equivalent unit for materials for the month in the first processing department is closest to $21.44
Answer:
The correct answer is B: the jobs produced during the period have been under-costed
Explanation:
Giving the following information:
If manufacturing overhead has been under-allocated during the period, then which of the following is true?
(a) the jobs produced during the period have been over-costed
(b) the jobs produced during the period have been under-costed
(c) the jobs produced during the period have been costed correctly
(d) none of the above
When manufacturing overhead has been under-allocated means that the actual costs incurred where superior that the estimated cost for the period.
Answer:
D. base an employee's salary on the number of task skills he or she possesses.
Explanation:
Pay for knowledge programme as the name implies, is when an employer renumerate an employee for learning or developing new skills/task on the job.
If an employee develop new skills while working and then get renumerated, this will make the employee get himself or herself acquainted with the company. In order words, the employee will go out of his way to improve his efficiency in terms of increase in productivity due to the new task skill gained.
In this reward system, the employer rewards the employee with payment increase for leaning new task and skills on the job which is beyond their regular activity.
Answer:
two part pricing
Explanation:
A Two-part tariff (TPT) is a type of price gouging in which the price of a good or service consists of 2 sections-a rub-sum of the per-unit fee. Such a selling strategy generally occurs except in part or entirely monopolistic industries. It is built to allow the company to absorb more surplus value in a non-discriminatory pricing framework than it ever has before.
Two-part tariffs in open markets can also occur when customers are unsure regarding their final requirement. Consumers of fitness centers, for instance, may be unsure regarding their degree of potential dedication to an exercise routine.
Answer and Explanation:
The journal entries are shown below;
a. Investment Dr $37,282
To Cash $37,282
(being the investment in bonds is recorded)
b.
Cash (($1,000 × $40) × 0.07 × 6 ÷ 12) $1,400
Investment $91
To interest revenue ($37,282 ×8% × 6 ÷ 12) $1,491
(Being the first interest payment is recorded)
