Thomas Manufacturing produces a chemical pesticide and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the Refining Department had 2000 gallons of partially processed product in production. During January, 36,000 gallons were transferred in from the Mixing Department, and 31,000 gallons were completed and transferred out. At the end of the month, there were 7000 gallons of partially processed product remaining in the Refining Department. See additional details below
What was the cost per equivalent unit with respect to direct materials costs for the Refining Department in the month of January? Use the weighted-average method. (Round your calculations to the nearest cent.)
A) $1.29
B) $2.74
C) $1.25
D) $6.80
A) $1.29
You might also like to view...
Suppose the economy is thought to be 2 percent above potential (i.e., the output gap is 2 percent), when potential output grows 4 percent per year. Suppose the Fed is following the Taylor rule, with an inflation rate of 2 percent over the past year. The federal funds rate is currently 3 percent. The equilibrium real fed funds rate is 3 percent and the weights on the output gap and inflation gap are 0.5 each. The inflation target is 1 percent. a.Is the fed funds rate currently too high or too low? By how much? Show your work. b.Suppose a year has gone by, output is now just 1 percent above potential, and inflation rate was 1.5 percent over the year. What federal funds rate should the Fed now set (assuming the inflation target does not change)?
What will be an ideal response?
Why might the inclusive method of brand valuation be the best way determine a brand's true value?
What will be an ideal response?
A(n) ________ scale is a measurement in which numbers are assigned to characteristics of objects to reflect the order of the objects
A) nominal B) graduated C) ordinal D) interval E) ratio
A good brand name should do all of the following EXCEPT fit ________
A) the target market B) the competition C) the customer's culture D) the product's benefits E) legal requirements