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Anettt [7]
2 years ago
13

A manufacturing department has 50,000 EUP for units completed and transferred out and 4,500 EUP for units in ending inventory. M

aterials cost is $2.50 per EUP and labor and overhead cost is $3.75 per EUP. The total amount of ending work in process inventory is $ .
Business
1 answer:
andrezito [222]2 years ago
6 0

Answer:

$28,125

Explanation:

Data given in the question

Number of units completed and transferred out = 50,000

Ending inventory units = 4,500

Material cost per equivalent unit of production = $2.50

Labor and overhead cost per equivalent unit of production = $3.75

So, by considering the above information, the ending work in process inventory units is

= Ending inventory units × (Material cost per equivalent unit of production + Labor and overhead cost per equivalent unit of production)

= 4,500 × ($2.50 + 3.75)

= 4,500 × $6.25

= $28,125

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A Calculate inventory amounts when costs are rising (LO6-3)
Taya2010 [7]

Answer:

Using FIFO to calculate inventory amounts when costs are rising:

                                               Unit      Unit Cost    Total Cost

Jan. 1 Beginning inventory       58      $ 50           $ 2,900

Apr. 7 Purchase                       138          52               7,176

Jul. 16 Purchase                     208          55              11,440

Oct. 6 Purchase                       118          56              6,608

                                               522                        $ 28,124

b) Less Cost of Sales             444                       $ 23,756

a) Ending Inventory                   78         56           $ 4,368

c) Sales                                    444         68          $30,192

Cost of Goods Sold                444                       $23,756

d) Gross Profit                                                        $6,436

Explanation:

FIFO is one of the methods for computing inventory.  It is First in, First Out based on the concept that goods that were purchased first would be the first to be sold.  When there are rising prices and goods are of perishable nature, it makes sense to sell the goods that were bought first.

8 0
1 year ago
Shunt Technology will spend $800,000 on a piece of equipment that will manufacture fine wire for the electronics industries. The
Mashcka [7]

Answer:

$1,180,000

Explanation:

The net initial investment will include the following components:

1. Fixed capital investment = Purchase cost of the equiment = $800,000 + $240,000 = $1,040,000

2. Increase in working capital of $48,000

3. Sales proceeds of existing machine of $75,000

4. Tax on gain/loss of sales on existing machine = (75,000 - 125,000) x 34% = $- 17,000

So, total net initial investment is $1,040,000 + $48,000 + $75,000 - (-$17,000) = $1,180,000

3 0
2 years ago
One study of 195 critical incidents in banking and medical settings showed that a major difference between effective and ineffec
kondor19780726 [428]

The answer is the type of feedback offered. Responding to a message involves of giving noticeable response to the speaker.  For the people who are good listeners, they preserved eye contact, responded with suitable facial gestures, they inquired questions and swapped ideas. While for the poor listeners, they had a drooping posture and yawning.

3 0
1 year ago
Milford Company uses the​ percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $
andrew-mc [135]

Answer:

The balance of Allowance for Uncollectible​ Accounts, after​ adjustment, will be $5,800

Explanation:

The computation of the balance of Allowance for Uncollectible​ Accounts is shown below:

= Estimated uncollectible amount + credit balance of Allowance for Uncollectible Accounts

= $2,800 + $3,000

= $5,800

The estimated uncollectible amount is shown below:

= Net credit sales × uncollectible percentage

= $140,000 × 2%

= $2,800

Both the items would be considered for computing the balance of the  Allowance for Uncollectible​ Accounts.

3 0
2 years ago
Multiple copies of the purchase order are prepared for recordkeeping and distribution with a copy of the purchase order sent to
drek231 [11]

Answer:

B. Accounts Payable, Receiving and Inventory Control Department

Explanation:

First, the Multiple Choices

A. Accounts Payable, Receiving, and Stores Control Departments.

B. Accounts Payable, Receiving, and Inventory Control Departments.

C. Accounts Payable, Accounts Receivable, and Receiving Departments.

D. Accounts Payable, Receiving, and Production Planning Departments.

Accounts Payable

The organisation is making a purchase, hence, there will be financial implications and payments that need to be made for the purchase. Therefore Accounts payable is involved

Receiving

The department for receiving the order from the vendor is also crucial, the responsibility of this department is to ensure that all that was ordered and paid for on the purchase order sent to the vendor were delivered. The receiving department will also ensure that there are no defects in the supplied materials.

Inventory Control

Inventory Control is crucial as the department is responsible for ensuring that the optimal level of inventory is supplied and kept per time. The inventory control department should get a copy of the purchase order, compare with available inventory and see the incoming order is adequate for the optimal inventory size for the organisation.

Departments not Involved

Stores Control Department in option A is not involved because stores control takes care of the store in general while inventory control ensures that optimal stock level is maintained.

Accounts Receivable in option C is not involved because money is not coming in

Production Planning in option D is not involved because the company is not planning to produce, it is purchasing.

5 0
1 year ago
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