Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentCompleteMaterials costs$5,700 65% Conversion costs$6,800 45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: CostMaterials costs$125,500 Conversion costs$207,000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.What are the equivalent units for conversion costs for the month in the
first processing department?
A. 6,900
B. 5,900
C. 6,250
D. 350
Answer: C
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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security taxand $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000 . Also, $15,000 wassubject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salarieswould include a
a. debit to Salaries Payable of $313,000 b. credit to Salaries Payable of $364,500 c. debit to Salaries Expense of $364,500 d. credit to Salaries Expense of $313,000
Appraisal costs help minimize overall quality costs while maintaining a high quality of output
Indicate whether the statement is true or false
Which sentence expresses numbers correctly?
A) Democrat Louise Slaughter represents New York's 25th Congressional District. B) Democrat Louise Slaughter represents New York's Twenty-fifth Congressional District. C) Democrat Louise Slaughter represents New York's Twenty fifth Congressional District.
Allison buys equipment and pays cash of $50,000, signs a note of $10,000 and assumes a liability on the property for $3,000. In addition, Allison pays an installation cost of $500 and a delivery cost of $800. Allison's basis in the asset is
A) $60,000. B) $63,000. C) $63,500. D) $64,300.