Answer:
A. 36,000 units
B. 40,000 units
C. 32,800 units.
Explanation:
A. To calculate units transferred out we add beginning work in process to units transferred during the period and subtract the ending work in process units.
8,000 + 32,000 - 4,000 = 36,000
Units transferred out of process in June = 36,000
B. The equivalent units of production for materials will be ;
8,000 + 32,000 = 40,000.
C. The equivalent units of production for Conversion costs will be:
(8000 * 30%) + 32000 - (4000 * 40%) = 32,800.
b. What would be the effect of this purchase on income before income taxes using FIFO method?
Answer:
1. Net income decreases by $3,000
2. The amount of net income would be remains the same.
Explanation:
1. Under LIFO method
(i) Before 8,000 units purchased:
sales = 67,000 units
Cost of goods sold = Quantity × Price
= (66,000 × $13) + (1,000 × $10)
= $858,000 + $10,000
= $868,000
(ii) If 8,000 units purchased at $13 each then,
Cost of goods sold = Quantity × Price
= 67,000 × $13
= $871,000
As the cost of goods increases as a result there will be decrease in the net income before tax under LIFO method.
The amount of net income would be decreased by:
= $871,000 - $868,000
= $3,000
2. Under FIFO method:
(i) Before 8,000 units purchased:
sales = 67,000 units
Cost of goods sold = Quantity × Price
= (16,000 × $10) + (51,000 × $13)
= $160,000 + $663,000
= $823,000
(ii) If 8,000 units purchased at $13 each then,
Cost of goods sold = Quantity × Price
= (16,000 × $10) + (51,000 × $13)
= $160,000 + $663,000
= $823,000
As there will be no change in the cost of goods sold, so, there will be no change in the net income before tax under FIFO method.
The amount of net income would be remains the same.
b. cultural
c. societal
d. economic
Answer:
a. technological
Explanation:
since in the given situation it is mentioned that the manufactured are concerned with respect to the availability of the electricity in the global marketplace. Now when the compatibility problem is there so this is the technological difference as here the compatibility is to be seen whether it is fiited or not
Therefore the option a is correct
B. Treasury Stock-Cormmon is debited for $1,650.
C. Retained Earnings is debited for $1,660.
D. Treasury Stock-Common is oodied for $46.
Answer:
A. Treasury Stock-Common is debited for $3,300.
Explanation:
Cost of the treasury stock purchased = 300 shares of treasury stock * $11 per share
Cost of the treasury stock purchased = $3,300
B. $34
C. $45
D. $37
Answer:
$23.47
Explanation:
Given that,
Beginning Work in Process inventory = 1,200 units
Units started = 3,300 units
Ending Work in Process = 1,500 units
Total dollar cost = $88,000
Finished units:
= Beginning Work in Process inventory + Units started - Ending Work in Process
= 1,200 units + 3,300 units - 1,500 units
= 3,000 units
Equivalent units:
= (Finished units × 100%) + (Ending Work in Process × 50%)
= (3,000 × 100%) + (1,500 × 50%)
= 3,000 units + 750 units
= 3,750 units
Cost per equivalent whole unit:
= Total dollar cost ÷ Equivalent units
= $88,000 ÷ 3,750
= $23.47
Answer:
$1,365.15
Explanation:
Coupon rate = 6.15%
Par Value = 1000
Years = 25
Coupon = 30.75
No of the periods = 50 (25*2)
Semi YTM = 1.93% (3.86%/2)
Price = PV(Semi YTM, No of the periods, -Coupon, -Par Value)
Price = PV(1.93%, 50, -30.75, -1000)
Price = $1,365.15
So, the current value of the bond is $1,365.15.
Answer: All bankruptcy petitions are filed by creditors seeking to protect their claims against firms in financial distress.
Explanation:Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankruptcy is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, such as the United Kingdom, bankruptcy is limited to individuals; other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. Bankruptcy is the legal proceeding involving a person or business that is unable to repay outstanding debts. The bankruptcy process begins with a petition filed by the debtor, which is most common, or on behalf of creditors, which is less common. All of the debtor's assets are measured and evaluated, and the assets may be used to repay a portion of outstanding debt.