Business, 17.07.2020 21:01 aks3489

The following information is provided by Adametz Company: WIP Inventory, January 1 0 units Units started 7 comma 600 Units completed and transferred out 3 comma 300 WIP Inventory, December 31 4 comma 300 Direct materials $15,500 Direct labor $18,400 Manufacturing Overhead $9,000 The units in ending WIP Inventory were 90% complete for materials and 84% complete for conversion costs. At the end of the year, what are the equivalent units for conversion costs?

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Answer from: ryanghost90

The equivalent units for conversion costs= 6,912 units

Explanation:

The weighted average method of valuation would be used to determine the the equivalent units for conversion costs

Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.

Equivalent unit = Degree of completion × Units of inventory

Items units Equivalent unit

Completed unit 3,300 3,300× 100 = 3.300

Closing work in progress 4,300 4,300× 84%= 3,612

Total equivalent units 6,912

The equivalent units for conversion costs= 6,912 units

Answer from: Quest

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.

Answer from: Quest

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.

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