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Verizon [17]
2 years ago
7

The Assembly Department of​ GigaGo, Inc., manufacturer of​ computers, had 2 comma 000 units of beginning inventory in​ September

, and 6 comma 000 units were transferred to it by the Production Department. The Assembly Department completed 3 comma 000 units during the month and transferred them to the Packaging Department. Calculate the total number of units accounted for by the Assembly Department if it had 5 comma 000 units in ending inventory. The weightedminusaverage method is used.
Business
1 answer:
Alenkasestr [34]2 years ago
7 0

Answer:

8,000 units need to be accounted for

Explanation:

The Weighted Average  method Calculates the cost per unit by Adding the costs in Opening Work in Process and the Costs added in process department during the period. This cost is then divided by the the Sum of units in closing Work in Process and units of Completed goods.

The Units that needs to be Accounted for is the <em>Sum of</em> the units in Opening Work In Process and the units Transferred into the Assembly Department.

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Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends $2
alisha [4.7K]

Answer:

(a) $35,000

(b) $8,000

Explanation:

(a) Accounting profit:

= Total revenue - Explicit cost

= $75,000 - (wages + Annual rent + Material cost)

= $75,000 - ($13,000 + $5,500 + $21,500)

= $75,000 - $40,000

= $35,000

(b) Economic Profit:

= Total revenue - Explicit costs - Implicit costs

= $75,000 - (wages + Annual rent + Material cost) - (Income from investment + Earnings as a potter + Worth of entrepreneurial talents)

= $75,000 - ($13,000 + $5,500 + $21,500) - ($5,500 + $19,000 + $2,500)

= $75,000 - $40,000 - $27,000

= $8,000

8 0
2 years ago
Jim and Jane purchased their house a year ago and have been transferred out of town. They paid $275,000 for the property and end
amid [387]

Answer:

18%

Explanation:

Original cost: $275,000

Selling price: $225,000

Loss: $50,000

50,000/275,000=0.18

0.18x100=18%

:)

4 0
2 years ago
Gabriella strongly prefers a specific brand of gourmet coffee. Since there is only one store in her area that sells her brand, s
omeli [17]

Answer:

A. True

Explanation:

For her it is a specialty good because it not sold everywhere, therefore she makes the extra effort.

7 0
2 years ago
Thornton Industries began construction of a warehouse on July 1, 2021. The project was completed on March 31, 2022. No new loans
photoshop1234 [79]

Answer:

$4,320

Explanation:

The computation of the amount of interest capitalized for 2022 is shown below:-

The average interest rate based on the two interest-bearing liabilities

Total interest                   Total interest on

bearing liabilities        each outstanding liability

$2,000,000               $2,000,000 × 8% = $160,000

$8,000,000             $8,000,000 × 4% = $320,000

$10,000,000                                             $480,000

Average interest rate = $480,000 ÷ $10,000,000

= 0.048

or 4.8%

Average accumulated expenses in year 2022 = $540,000 × 2 ÷ 3

= $360,000

The amount of interest to be capitalized in year 2022

= $360,000 × 4.8% × 3 ÷ 12

= $4,320

The amount of interest to be capitalized in year 2022 = $4,320

5 0
2 years ago
Stimpleton Company engages in the following cash payments: Purchase equipment $ 3,600 Pay rent 600 Repay loan to the bank 5,000
Svetradugi [14.3K]

Answer:

$1,100

Explanation:

The operating activities are the activities that are include day to day transaction which would result in cash receipts and the cash payments

The cash receipts would be in terms of received cash from customers and the cash payments would be salary expenses, utilities expenses, etc that are paid in cash.

So, the total amount of cash paid for operating activities is

= Rent paid + workers salaries paid

= $600 + $00

= $1,100

8 0
2 years ago
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