Answer:
$121,000
Explanation:
Given that,
Beginning Work in Process = 125,000
Beginning Finished Goods = 78,000
Ending Work in Process = 139,500
Ending Finished Goods = 102,000
Direct Labor Cost = 15,000
Cost of Goods Manufactured = 145,000
Cost of goods sold refers to the cost of acquiring and manufacturing the goods to be sold during a period of time. It includes all the costs that are directly related to the production of the goods.
Cost of goods sold is calculated by the following formula:
= Beginning Finished Goods inventory + Cost of Goods Manufactured - Ending Finished Goods
= 78,000 + 145,000 - 102,000
= $121,000
Infinite Coffee Inc. owns coffee plantations in Brazil. The company trades its coffee produce directly with coffee merchants in foreign markets who later resell and distribute it throughout their country. In this scenario, Infinite Coffee's activities best illustrate___________.
Answer:
Exporting
Explanation:
Exporting refers to the sale of goods and services to a country different from the one in which they were produced. According to this, the answer is that in this scenario, Infinite Coffee's activities best illustrate exporting because the company sells the coffee to merchants in foreign markets.
Suppose that ward was an independent consultant for taser international, as well as for several other firms that developed products for police departments. would he have been subject to the same duties that full-time taser employees have with respect to their employer (the principal)? a. yes, because even if one is an independent contractor (consultant), one has the same duties to the employer that full-time employees have. b. probably not, although most of the duties agents owe to their principals could apply, such the duty to maintain confidentiality. c. yes, because independent contractors are not allowed to develop any new products based on their general knowledge of the industry.
Answer:
b. probably not, although most of the duties agents owe to their principals could apply, such the duty to maintain confidentiality.
Explanation:
Ward may probably not have been subjected to the same duties that full-time taser employees have with respect to their employer (the principal), although most of the duties agents owe to their principals could apply to him, such as the duty to maintain confidentiality.
Thus, Ward is required by rules and regulations of Taser international to always maintain confidentiality in his operations without divulging sensitive information to other people.
The twist trust has generated $60,000 in depreciation deductions for the year. its accounting income is $75,000. in computing this amount, pursuant to the trust document, depreciation was allocated to corpus. accounting income was distributed at the trustee's discretion: $25,000 to hernandez and $50,000 to jackson.
Answer:
the file attached shows the whole explanation. I hope it helps.
Explanation:
Complete question
Compute the depreciation deductions that Hernandez, Jackson, and Twist may claim under the following assumptions. If an amount is zero, enter "0". Do not round any division. Depreciation Deductions Hernandez Jackson Twist Trust
a. Depreciation deduction allocated to corpus. Hernandez$_____ Jackson$_____ Twist Trust$_____
b. If depreciation was allocated to income. Hernandez$_____ Jackson$_____ Twist Trust$_____
c. If the trustee distributed $15,000 each to Hernandez and to Jackson and retained the remaining accounting income. Hernandez$_____ Jackson$_____ Twist Trust$_____
d. If Twist is an estate (not a trust) and depreciation deduction allocated to corpus.
In 2019, Jasmine and Thomas, a married couple, had taxable income of $150,000. If they were to file separate tax returns, Jasmine would have reported taxable income of $140,000 and Thomas would have reported taxable income of $10,000. Use Tax Rate
Answer:
The couple would have a marriage benefit of $3,822.
Explanation:
They pay will pay less by filling jointly than their combined tax liability $3,822 if they fill the firm as singles. Below is table showing how is it been gotten
The subject involves determining marginal tax rates for a married couple based on different filing statuses. A couple with a joint income of $150,000 may encounter different tax rates if they file separately rather than jointly, owing to the progressive tax system in the U.S. Marginal tax rates vary depending on the amount of income and filing status.
The question revolves around understanding the marginal tax rates and how they differ when a married couple files jointly versus separate tax returns. Marginal tax rates essentially describe the percentage of tax applied to your income for each tax bracket in which you qualify. For a married couple with a combined income of $150,000, their marginal tax rate would be determined by the tax brackets set by the IRS for the respective tax year.
The scenario provided splits the combined income into $140,000 for Jasmine and $10,000 for Thomas if they were to file separately. This could result in different marginal tax rates for each individual due to the progressive nature of the U.S tax system. The tax rate applied to each individual's income would typically be lower for Thomas since he falls within a lower income bracket, whereas Jasmine's income puts her in a higher tax bracket, hence a higher marginal tax rate. However, in practice, married couples often benefit from a lower tax rate on their combined income when filing jointly, compared to what they would owe in total if they filed separately, due to the way tax brackets are structured for married filing jointly status.
When Palm, Inc. acquired its 100% investment in Star Co., a foreign entity, the excess of cost over book value was 10,000 FC. This excess was traceable to a 10-year patent. Assume the foreign entity's local currency is its functional currency.
The elimination entry to amortize the excess will include a(n):
A. debit to Patent for 10,000FC multiplied by the current exchange rate.
B. debit to Patent for 10,000FC multiplied by the historical exchange rate.
C. credit to Investment in Star for 10,000FC multiplied by the average exchange rate.
D. credit to Cumulative Translation Adjustment for 10,000FC multiplied by the historical exchange rate.
Answer:
A. debit to Patent for 10,000FC multiplied by the current exchange rate.
Explanation:
Since the excess of cost over book value was 10,000FC and this excess was traceable to a 10-year patent.
The elimination entry to amortize the excess will include a debit to Patent for 10,000FC multiplied by the current exchange rate assuming the foreign entity's local currency is its functional currency.
Lucas is planning to buy a house owned by Janet. He gives her an initial amount of $10,000 to hold the offer open for a 45-day period. Janet will deduct the $10,000 from the purchase price if Lucas purchases the property within those 45 days. If he does not, Janet can keep the $10,000 and offer the house to another party. Which of the following contracts does this scenario best illustrate?
A. Option contract
B. Void contract
C. Implied contract
D. Executed contract
Answer:
The correct answer is letter "A": Option contract.
Explanation:
An option contract gives a buyer the right but not the obligation to purchase an asset at a certain price -usually fixed- and date. The term is mostly used while talking about stocks. A buyer can profit both from the upward and downward movements of the stock price. If the price goes up, the investor could bet on call options while the decreasing price could allow investors to profit from put options.
Lucas's case reflects an option contract because he is planning to purchase a house from Janet at a price and date in the future but he agreed in not having the obligation to buy the house when that date arrives.
Hilary was put on a new team by her manager. Ever since she shifted teams, Hilary has felt energized and motivated toward higher performance because her friends work in the same team. She and her friends work together to come up with creative ideas and solutions to problems. In the given scenario, Hilary's manager recognized that _____ was most likely to produce a positive change for Hilary. a. social facilitation b. self-management c. gain sharing d. cross-functionality
Answer:
A. Social facilitation
Explanation:
Social facilitation refers to the improvement in an employee's performance when working with friends and people in general over working alone. It involves the improvement in work by the mere presence of others. The improvement of the employee's performance has nothing to do with special training and the likes. It just involves allowing the employee to work with others rather than being alone. It points to the school of thoughts that people are motivated in working together rather than working alone. In this case, Hilary is placed in a team to work with her friend and others which has lead in the improvement of her performance.
Tinker's cost of goods sold in the year of sale (2019) was $790,000 and 2018 cost of goods sold was $810,000. The inventory at the end of 2019 was $192,000 and at the end of 2018 the inventory was $212,000. Tinker’s average number of days to sell its inventory during 2019 is closest to: (Use 365 days a year. Do not round intermediate calculations.)
Answer:
91 days
Explanation:
Here, we are to calculate the average number of days it will take to sell its inventory in 2019.
We proceed mathematically as follows;
Inventory turnover=COGS/Average inventory
Average inventory=(192,000 + 202,000)/2=$197,000
hence inventory turnover=(790,000/197,000)= 4.01
hence average days to sell=365/4.01 =91 days (approx)
Final answer:
The average number of days to sell inventory for Tinker in 2019 is calculated using the Inventory Turnover Ratio and Days Sales of Inventory formula, resulting in approximately 93 days.
Explanation:
To find Tinker's average number of days to sell its inventory during 2019, we use the Inventory Turnover Ratio and the Days Sales of Inventory formula. The Inventory Turnover Ratio is calculated by dividing the Cost of Goods Sold by the Average Inventory for the year.
The formula for Average Inventory is:
(Beginning Inventory + Ending Inventory) / 2
For Tinker, the Average Inventory in 2019 = ($212,000 + $192,000) / 2 = $202,000.
The Inventory Turnover Ratio for 2019 = $790,000 / $202,000 ≈ 3.91 times.
The Days Sales of Inventory is then found by dividing the number of days in the year by the Inventory Turnover Ratio:
65 days / 3.91 ≈ 93.35 days
Therefore, the average days to sell inventory for Tinker in 2019 is closest to 93 days.
Asian noodle company contracts to sell 1,000 cases of rice noodles to beau's bistros, inc., but refuses to deliver. due to a rice shortage, beau's cannot obtain the noodles elsewhere. the buyer's right to recover the goods from the seller is the right of
Answer:
Tender right
Explanation:
Remember, it was mentioned that Asian noodle company entered a contract to sell 1,000 cases of rice noodles to Beau's Bistros inc.
Furthermore, this implies there was a contractual agreement, and according to business law a seller has an obligation to tender the goods requested by a buyer.
Therefore, Beau's Bistros inc can use it's tender right based on the contract to recover the goods from Asian noodle company.
The right to recover goods from a seller who has breached a contract and refuses to deliver is known as the right of replevin. This legal remedy is applicable when Beau's Bistros, Inc. cannot find alternative sources due to a rice shortage.
Explanation:The buyer's right to recover the goods from the seller in a situation where the contract has been breached by the seller is known as the right of replevin. This right allows the purchaser to reclaim goods that were wrongfully withheld from them when alternative sources are not available, as is the case with Beau's Bistros, Inc. unable to obtain rice noodles due to a rice shortage. In legal terms, replevin is a remedy that allows the buyer to recover possession of the goods directly from the seller.
Standard Bank gives John a substantial loan to purchase a new home. This credit transaction is governed by the Truth in Lending Act (TILA), which requires that certain written disclosures be made before a credit transaction is consummated. The TILA disclosure statement specifies the amount of $15,000, which represents the sum of interest charges John will be required to pay along with the principal amount of $100,000. This specification best exemplifies the _____.
Answer: finance charge
Explanation: The True in Lending Act (TILA) of 1968 is a Untied States federal law that was created to promote informed customers credit, certain written disclosure be made known before a transaction be consummate.
The fee john is requested to pay by the TILA disclosure statement is the "finance charge ". Standard bank is give John loan and the transaction will be govern by the TILA.
Why are creditors harmed by unexpected inflation? a. Creditors receive lower nominal rates of interest when prices rise. b. Creditors are paid back with more valuable dollars. c. Creditors receive higher nominal rates of interest when prices rise. d. Creditors are paid back money with less spending power than when it was originally loaned out.
Answer:
d. Creditors are paid back money with less spending power than when it was originally loaned out.
Explanation:
Creditors are the entities to whom people or firms owe money. Eg : If A owes money to B, B is A's creditor.
Inflation is the rise in price level. It implies the same money has less purchasing (spending) power, due to price rise.
Normal Inflation is accounted by the creditors as the interest, which is added to the principal value of loaned amount, at the time of repayment.
However, unexpected inflation : It implies that creditors are repaid back money in the time, when that money has less purchasing power than the time when it had been lent. And, this unexpected fall in value of money is not accommodated into the interest rates also (since it was unexpected)
Crackerjacks cost twice as much as Doritos. Fred maximizes utility by buying eight boxes of Crackerjacks and some number of bags of Doritos. If the last box of Crackerjacks gives Fred 100 units of utility, you can conclude that: A. the total utility of the bags of Doritos Fred bought is 200 units. B. the marginal utility of the last bag of Doritos Fred bought is 50 units. C. Fred has also bought 16 bags of Doritos. D. Fred has also bought four bags of Doritos.
Answer:
The best answers is "B"
the marginal utility of the last bag of Doritos Fred bought is 50 units.
Explanation:
According to the law of diminishing marginal utility, after some point the more we consume of something, the less each additional unit adds to our satisfaction.
the marginal utility of the last bag of Doritos Fred bought is 50 units because Crackerjacks cost twice as much as Doritos.
Answer:
B. the marginal utility of the last bag of Doritos Fred bought is 50 units.
Explanation:
Base on the scenario been described in the question, where Crackersjacket cost twice the as much the amount of much of Doritos, law of diminishing makes us to understand this, and it is used to refer to a point at which the level of profits or benefits gained is less than the amount of money or energy invested as seen in the scenario, by the cost of Crackersjacket.
A clothing manufacturer has the marginal profit function mp(x) = 40 − 0.02 x , 0≤ x≤ 100 (in dollars per suits), where x is the number of suits produced and sold each week. the initial profit is mp(0) = −200 . due to the fixed costs. using a definite integral, it is determined that the total profit from producing and selling 80 suits is
Answer:
2990.46$
Explanation:
The explanation is shown in the picture attached
The total profit for a manufacturing company can be calculated by integrating the marginal profit function from 0 to the given quantity of units sold. In this case, to find the total profit from producing and selling 80 suits, we integrate the function mp(x) = 40 - 0.02x from 0 to 80. Fixed costs are also taken into consideration to optimize profit.
Explanation:The subject of this question is the computation of profit given a marginal profit function and a specified output level. In the example provided, a clothing manufacturer's marginal profit function is given as mp(x) = 40 - 0.02x. The profit-maximizing level of output is determined by the intersection of Marginal Revenue (MR) and Marginal Cost (MC). In this particular case, MR and MC intersect at a quantity of 40.
The problem specifies that the company's initial profit is mp(0) = -200 due to fixed costs. If the manufacturer produces and sells 80 suits, we would calculate that by integrating the function mp(x) from 0 to 80.
Remember, when calculating the total profit, one needs to account for both the variable profits (calculated from the marginal profit function) and the fixed costs. This allows us to maximize profit by finding the optimal number of suits to produce and sell, taking into account both fixed and variable costs.
Learn more about Profit Maximization here:https://brainly.com/question/33809682
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A company's current sales are $300,000 and fixed expenses total $225,000. The contribution margin ratio is 30%. The company has decided to expand production which is expected to increase sales by $70,000 and fixed expenses by $15,000. If these results occur, net operating income will:___________
Answer:
$6,000
Explanation:
The net operating income will increase by $6,000;
$70,000*30%-$15,000=$6,000
As the CM ratio is 30% and $15,000 are fixed expenses,net result will be increase in net operating income.
average cost retail method to estimate inventories. Data for the first six months of 2021 include: beginning inventory at cost and retail were $64,500 and $123,000, net purchases at cost and retail were $315,000 and $483,000, and sales during the first six months totaled $493,000. The estimated inventory at June 30, 2021, would be:
Answer:
$70,765
Explanation:
cost retail
beginning inventory $64,500 $123,000 52.44%
net purchases $315,000 $483,000 65.22%
sales during the first six months totaled $493,000.
we must first determine the cost of goods sold:
COGS = [(cost beginning inventory + cost net purchases) / (retail beginning inventory + retail net purchases)] x total sales = [($64,500 + $315,000) / ($123,000 + $483,000)] x $493,000 = ($379,500 / $606,000) x $493,000 = $308,735
ending inventory = cost beginning inventory + cost net purchases - COGS = $64,500 + $315,000 - $308,735 = $70,765
SparkClean is a company that specializes in producing cleaning products for automobiles. In order to promote its products, SparkClean sends a complimentary sample of its products to auto enthusiasts. Which form of marketing is SparkClean involved in?
Answer:
Direct mail marketing
Explanation:
This is a form of marketing technique in which an organization sends out letters, postcards, samples and other form of promotional materials to target market which may compose of past customers, present customers and potential customers needing the products or services they are offering. Seeing that SparkleClean sends complimentary samples to auto enthusiasts, they are using the direct mail marketing technique. There are a lot of promotional materials that can be used in scenarios like this. Apart from letters and postcards, brochures, catalogs, bulletin and so on can be used.
Answer:
direct mail marketing
Explanation:
SparkClean is using direct mail marketing since it is sending a free sample to auto enthusiasts. Generally direct mail marketing involves sending catalogs, brochures, newsletters or small sample products like this case. Before it was very common to receive catalogs by mail. I remembered we always got JC Penny's catalog and my mother ordered our clothes and shoes. It was a problem with the shoes because she would always order large shoes just in case.
Now most direct mail marketing efforts have been replaced by emails and catalogs by websites.
Jonathan, a technology salesperson, plans to give a system demonstration and a short presentation about how the system would benefit the customer during their first meeting. This is an example of a(n) ______ of the preapproach step in the selling process.
Answer:
goal
Explanation:
Based on the scenario being described within the question it can be said that this is an example of a goal of the pre-approach step. This is because the pre-approach step in this process focuses on learning as much as possible about the potential customer and preparing in order to find the best way to sell them the product/service. Which is what Jonathan is trying to accomplish with the presentation.
A leading smart phone manufacturer wants to maintain a core team to design its products, but wants to use a contract manufacturer in Singapore to handle production according to its specifications. The organization in this situation should use _______ strategy.
Answer:
The correct word for the blank space is: outsoucing.
Explanation:
Outsourcing is an approach by which companies take part of their operations to a different country in an attempt to cut materials costs and labor hand benefits. It is a strategy also used at the moment of bypassing governmental production regulations. The disadvantages of outsourcing are the loss of direct control over quality standards of manufacturing and to take away job opportunities in the entity's domestic country.
An Illinois state statute requires amusement parks to maintain equipment in certain conditionfor the protection of patrons. Jasperâs Fun Park fails to maintain its equipment. Kaitlin, apatron, is thereby injured. Jasperâs committedA) assault.B) battery.C) false imprisonment.D) negligence.
Answer:
The answer is negligence (option D)
Explanation:
Negligence in law terms describes the failure to follow standards of established behavior that protects people against unreasonable risks. In other words, negligence describes the situation whereby a person, an organization or company acts in a careless (or "negligent") manner that results in the damage of properties or someone sustaining an injury.
Kaitlin wouldn't have been injured if Jasper Fun Park had met Illinois state statute requirement for equipment maintenance in amusement parks. Thus, it can be concluded that Jasper Fun Park acted in negligence.
Doreen, a project manager, has been given a limited amount of money to run the new marketing campaign. She was also told that the client wants the campaign ready to roll out in less than two weeks. Doreen is feeling very limited by these constraints and is not sure that it will produce her team's best work. Her supervisor and career mentor, tells Doreen that she is __________.A. feeling the effects of the intuition model.
B. being unrealistic with the time frames and money given to her.
C. affected by bounded rationality.
D. using rational decision making.
E. experiencing satisficing.
Answer:
affected by bounded rationality.
Explanation:
Bounded rationality is a situation where decision making of an individual rationality is limited by the amount of information that the individual has, cognitive limitations, and finite time.
Doreen has been give two weeks to run a new marketing campaign for a client. She is feeling limited by time constraints and so she is being affected by bounded rationality.
Bounded rationality tends to limit the potential of a person to perform good work. They are cautious in carrying out tasks.
The local printing company purchases a new copy machine that reduces the cost of making a color copy by ten cents a copy. It normally makes 50,000 color copies a year and is in the 28 percent income tax bracket. The annual taxes on this purchase will be ___________.A) $3,600. B) $5,000. C) $6,400. D) $1,400.
Answer:
D. $1400
Explanation:
Given that
Tax rate = 28%
New purchase reduces cost by 10 cents
Copier makes $50000
Thus,
Annual taxes on purchase = (50000/10) × 28%
= 5000 × 28%
= 5000 × 0.28
= $1400
Therefore, Annual taxes on purchase is $1400.
Chocolate Supreme purchased new baking equipment for $15,000 subject to terms 4/10, n/45. The discount was taken. Additional costs included $900 in sales tax and $300 for installation. The total cost to be added to the machinery account is
Answer:
Cost of machine =$ 15600
Explanation:
According to International Accounting standards (IAS) 16 property plan and equipment (PPE), the cost of an asset is the purchase cost plus other costs of bringing it to the intended working conditions.
So we will add the purchase cost to the cost of delivery, tax and installation.
Note the discount is 4%
The purchase cost less discount = (100-4)% × 15,000= $14,400
The cost of the equipment = $14,400 + 900 + 300
=$ 15,600
Question Number 1) A key element of Smashburger’s pricing strategy is determining price steps between its quarter- pound, one-third pound, and half-pound hamburgers. The practice of setting prices for different products offered by a company within a single category is known as __________.
Answer:
A. Product pricing Line
Explanation:
Product pricing line is the grouping of a particular good and/or services into categories aimed at creating various quality levels in the mind of consumers. It involves setting prices for multiple products that a company offers in relation with another one. They prices of the product set are on product who are clearly related because they function in a similar manner and are sold to the same market target through the same marketing channel or outlets. In this case, the product line is hamburgers and the products are different sizes of hamburgers which are given their own specific prices each.
Business personal property rendition of taxable property. True or False
Answer: True
Explanation: Business personal property rendition of taxable property, the rendition for business personal property is a form that provides a District with descriptive information, cost, location and acquisition dates for a personal property owned by an individual. The information are used by the District to estimate the market value for tax evaluation.
A manufacturing company plans to produce 800 units in June; 1,000 units in July; and 600 units in August. Each unit requires ten (10) hours of direct labor. The direct labor rate is $15 per hour. What is the budgeted direct labor cost for June?
Answer:
$120000
Explanation:
Given: Company produce 800 units in June.
Each unit requires 10 hours of direct labor.
Direct labor rate is $15 per hour.
Now, calculating the Budgeted direct labor cost for June.
Budgeted direct labor cost= [tex]Total\ number\ of \ units\ produced\times projected\ direct\ labor\ hours\times direct\ labor\ cost[/tex]
⇒ Budgeted direct labor cost= [tex]800\times 10\times \$ 15[/tex]
∴ Budgeted direct labor cost= [tex]\$ 120000[/tex]
Hence, The budgeted direct labor cost for June is $120000.
Cost estimates on a long-term contract may indicate that a loss will result on completion of the entire contract. In this case, the entire expected loss should be:__________.
A) recognized in the current period, regardless of whether the percentage-of-completion or completed-
contract method is employed.
B) recognized in the current period under the percentage-of-completion method, but the completed-contract
method defers recognition of the loss to the time when the contract is completed.
C) recognized in the current period under the completed-contract method, but the percentage-of-
completion method defers the loss until the contract is completed.
D) deferred and recognized when the contract is completed, regardless of whether the percentage-of-
completion or completed-contract method is employed.
Answer:
The answer is A.) Recognized in the current period, regardless of whether the percentage-of-completion or completed contract method is employed.
Explanation:
The long -run cost function can be estimated using either time-series cost-output data collected on a plant (or firm) whose size has been variable over time, or cross-sectional cost-output dasta collected on a sample of plants,(firms) of different sizes at a particular point on time.
Answer:
The correct answer here is A)
Here is why.
Explanation:
If it is not recognized in the current period, it may be misleading. A forecast is indicative that a budget has already taken place and that resources have been released.
So even though cost estimates at the end of the incumbent period may indicate that a loss will result once the contract is completed, under the Zero-Profit, Completed- contract and percentage-of-completion methods, the entire loss that is expected on the contract must be recognized in the current period.
Cost estimation in project management speaks to identifying taking cognizance of the cost and other resources needed to finish a project whose purview or extent is properly defined.
A good cost estimate must include a detailed Basis of Estimate (BOE) report that describes the assumptions, exclusions, inclusions, accuracy and other aspects that are needed to interpret the total project cost.
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Waterway Company owns 30% interest in the stock of Pharoah Corporation. During the year, Pharoah pays $21000 in dividends to Waterway, and reports $315000 in net income. Waterway Company’s investment in Pharoah will increase Waterways net income by
Answer:
net income increases by $94,500
Explanation:
The journal records to record this transaction should be:
Dr Cash 21,000
Cr Investment in Pharoah Corporation 21,000
Dr Investment in Pharoah Corporation 94,500 (= $315,000 x 30%)
Cr Revenue from Pharoah investment 94,500
When a company uses the equity method, dividends are not considered income, they actually the investment account. Revenue is recognized only when the corporation generates a positive net income.
Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 98,000 units, 80% complete as to materials and 20% complete as to conversion. Units started and completed: 268,000. Units completed and transferred out: 366,000. Ending Inventory: 39,000 units, 30% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $55,200. Costs in beginning Work in Process - Conversion: $97,700. Costs incurred in October - Direct Materials: $844,050. Costs incurred in October - Conversion: $937,300. Calculate the cost per equivalent unit of materials.
Answer:
Cost per equivalent unit Materials = $ 2.82
Cost per equivalent unit Conversion = $2.65
Explanation:
Richards Corporation
1) We first calculate the fifo equivalent units .
FIFO Equivalent units can be calculated by the following.
Particulars Units % of Completion Equivalent Units
Mat. Con. Costs Materials C. Costs
Transferred out, 366,000 100 100 366,000 366,000
Ending inventory, 39,000 30 15 11700 5850
Total Weighted Equivalent Units 377,700 371,850
Less
Beginning Inventory: 98,000, 80% 20% 78,400 18000
FIFO Equivalent Units 299,300 353,850
2) We calculate the total costs
Direct Materials Conversion
Costs in beginning Work in Process -$55,200 $97,700
Costs incurred in October - $844,050 $937,300.
Total Cost $ 899250 1035,000
3) In FIFO The cost per unit is based only on the current costs and current period unit productions.
Materials = $844050/299300= $2.82
Conversion = 937,300 / 353,850 = 2.6488= $2.65
A domestic corporation considering expanding into international markets for the first time will typically
Answer:
They'll consider implementing a low risk/low control strategy such as exporting.
The production of rice in the year 2001 was 1000 tones which was 25% of the total food grain production in that year. In the next year if the production of rice decreased by 4% and production of rice as a percentage of total food grain production increased by 5 percentage points, what is the total food grain production in 2002?
Answer:
3200 tonnes
Explanation
Production of rice in 2001 =1000 tonnes
% rice to total production = 25%
Total production =100/25 *1000 = 4000 tonnes
2002 production of rice decrease by 4%
Decrease = 4% * 1000 = 40
Production of rice =960
% production of rice increase by 5% = 25%+5%= 30%
Total food production 100/30*960 =3200 tonnes