Answers
Answer:
486 units
Explanation:
Final answer:
The equivalent units of production for materials is calculated by adding the fully completed units to the proportion of the unfinished units that are complete for materials. Thus, in this case, that would be 450 (completed units) + [60 (ending WIP inventory) * 20% (proportion complete for materials)] = 462.
Explanation:
In the field of cost accounting, equivalent units of production refer to the number of units that could have been completed in a period given the amount of work that was actually done.
In this case, Department 1 transferred out 450 units, and the ending work in progress inventory was 60 units that were 20% complete for materials.
To calculate the equivalent units of production for materials, you need to add the fully completed units to the proportion of the unfinished units that are complete for materials.
Hence, = 450 (completed units) + [60 (ending WIP inventory) * 20% (proportion complete for materials)] = 450 + 12 = 462.
Therefore, the equivalent units of production for materials is 462.
Learn more about Equivalent Units of Production here:
#SPJ3
Related Questions
What relationship exists between financial institutions and financial markets? g
Elmer’s utility function is U(x, y) = min{x, y2}. If the price of x is $25 and the price of y is $15 and if Elmer chooses to consume 7 units of y, what must his income be? a.
Aragon Company has just received the August 21, 2010 bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance, August 1 $9,369 Deposits during August $32,200 41,569 Note Collected for depositor, including $40 interest 1,040 42,609 Checks cleared during August $34,500 8,109 Bank Service Charges 20 8,089 Balance, August 31 8,089 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 10,050 Disbursements for August 35,403 Receipts during August 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. Instrustions: a. Preare a bank reconciliation dated August 31, 2010, proceeding to a correct balance. b. Prepare any entries necessary to make the books correct and complete. c. What amount of chas should be reported in the August 31 balance sheet?
Which of the following acronyms identifies the Big Five personality dimensions
Answers
Answer:
$60,000 increase
Explanation:
The company's additional earnings before interest and taxes (EBIT) are subjected to a 40% tax rate. The company's EBIT is:
The change in income is determined as the EBIT minus taxes and interest expense:
Therefore, Garfield Industries experienced a $60,000 increase in its income as a result of the expansion.
Final answer:
The net income will increase by $100,000 as a result of the expansion.
Explanation:
To calculate the net income increase or decrease, you need to subtract the increased costs of goods sold, depreciation expenses, and interest expense from the increased sales. The tax rate of 40 percent should be applied to the resulting amount to calculate the net income. So, the net income increase or decrease can be calculated as follows:
- Increased sales: $1,000,000
- Increased costs of goods sold: $700,000
- Depreciation expenses increase: $50,000
- Interest expense increase: $150,000
Net income increase or decrease = (Increased sales - Increased costs of goods sold - Depreciation expenses increase - Interest expense increase) * Tax rate
= ($1,000,000 - $700,000 - $50,000 - $150,000) * 0.40
= $100,000
Therefore, the net income will increase by $100,000 as a result of the expansion.
b. Prevent all losses
c. Ensure reliable accounting
d. Control the entry operation
Answers
Answer:
C
Explanation:
An internal control system is used to ensure reliable accounting. Internal controls system can be defined as a given set of rules, policies, and procedures an organization puts in place to give direction, increase efficiency and strengthen how people follow to policies.
Answers
Answer:
normal good
elastic demand
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
Income elasticity = percentage change in quantity demanded / percentage change in income
percentage change in quantity demanded = (7/2) - 1 = 250%
percentage change in income = (52,000 / 45,000) - 1 = 15.6%
250 / 15.6 = 16.07
If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls
Inferior goods are goods whose demand falls when income rises and increases when income falls.
Answers
Answer:
Yes
Explanation:
Metalcrafters is right by claiming that the contract was discharged. The text makes a list of the impossibilities that allow for a contract to be discharged. “That the occurrence made performance impossible. The doctrine of impossibility relieves nonperformance only in extreme circumstances” (Twomey & Jennings). Samet’s death in the automobile accident qualifies Metalcrafters for the doctrine of impossibility. He was the only one capable of making the product and died unexpectedly.
Final answer:
The death of a party does not usually discharge a contract, unless it is a 'personal service contract' that relies heavily on the unique skills of that individual. In this case, Metalcrafters may claim the contract was dependent on Samet's unique skills, thereby making it impossible to fulfill the contract upon his demise. However, the specific determination would rely on the contractual terms and its interpretive application in law.
Explanation:
The subject matter of this question is related to contract law, specifically the aspect of 'impossibility of performance' as a potential defense for breach of contract. In the circumstance described, Metalcrafters had a contract with Lamar to design a new product, which was then considered impossible due to the unfortunate death of Samet, a pivotal individual to this task.
Under normal circumstances, death does not discharge a contract. If a party promises to perform a task that can be performed by others, the contract generally remains in effect even if that party becomes unable to perform. However, where the contract is considered a 'personal service contract'—one that relies on the unique abilities or skills of a particular individual—performance of the contract may be impossible if that individual dies.
Whether Metalcrafters could argue that this was a personal service contract may depend on the specific terms of the contract and how much it relied on Samet's unique skills. This is a complex area of contract law and could depend on further aspects that aren't covered in the question. In other words, it's not exactly a straightforward 'yes' or 'no' matter.
Learn more about Contract Law here:
#SPJ3
Answers
Answer:
4
Explanation:
The calculation of the process capability index is given below
Data provided in the question according to the question is as follows
USL = 27
LSL = 21
Now we take the average
X = (21 +27) ÷ 2
= 24
The standard deviation is 0.25
= min(USL - mean ÷ 3 × standard deviation , mean - LSL ÷ 3 × standard deviation)
After solving this the process capability index is 4
b. its primary goal is to reap monopoly profits by replacing competition with cooperation.
c. producing homogenous output is more expensive than producing differentiated output.
d. producing differentiated output is more expensive than producing homogenous output.
e. it has a monopoly, but potential entrants exist in the form of contestable markets.
Answers
Answer:
a. it is part of a group of firms that has formally agreed to control the price and the output of a product.
Explanation:
A monopolistic competitive firm ensures that, the price of goods and the output of the products produced by them is controlled. This helps them to dictate the market in which they find themselves in.