Question 10 (5 points)

Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Depart

Arlecino [84]

Answer:

a. costs of production Pulping: 165000 conversion: 159000

b. Cost per equivalent unit Pulping: 0.65 conversion: 0.20

c. cost of units completed and transferred out: Pulping: 102050 conversion: 31400 Total: 133450

d. Cost of reconciliation:

Cost of beginning in process inventory (4800 + 500) = 5300

Costs added to production during the period (102450 + 31800) =134250

8 0

2 years ago

[The following information applies to the questions below.]

Zepler [3.9K]

Answer:

The corresponding budgets in column B from which dollar amounts are transferred directly in constructing the budgets listed in Column A are matched in the explanation below

Explanation:

1.) Budgeted Income Statement

E.) Sales Budget

2.) Budgeted Balance Sheet

D.) Payables Budget

3.) Cash Flow Budget

A.) Direct Materials Budget

4.) Cost of Goods Sold Budget

B.) Cost of Goods Sold Budget

5.) Production Budget

C.) Production Budget

5 0

2 years ago

An economic model can be defined as___________a. a testable claim which can be evaluated with proper data.b. a representation of

Radda [10]

Answer:

b. a representation of a theory or a part of a theory

Explanation:

A model is different from theory because is a more applied and empirical representation of a situation while the theory is more abstract. An economic model is a simplified prediction of a complex and real economic behavior, it uses variables to analyze different scenarios, it also uses logical and quantitative relationships between economic processes, is usually mathematical. <em>The results of these models can lead to a new investigation, theorization or to prove theories.</em>

I hope you find this information useful and interesting! Good luck!

5 0

3 years ago

According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0% social security tax and the 1.

Rainbow [258]

Answer:

a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.

$9,800

b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.

Dr FICA Social Security expense 6,600
Dr FICA Medicare expense 1,650
Dr Federal unemployment tax expense 200
Dr State unemployment tax expense 1,350
Cr FICA Social Security payable 6,600
Cr FICA Medicare payable 1,650
Cr Federal unemployment tax payable 200
Cr State unemployment tax payable 1,350

Explanation:

payroll taxes should be:

social security $110,000 x 6% = $6,600

Medicare $110,000 x 1.5% = $1,650

federal unemployment $25,000 x 0.8% = $200

state unemployment $25,000 x 5.4% = $1,350

total = $9,800

Both employees and employers must pay equal amounts of FICA taxes (social security and medicare), but only employees pay unemployment taxes.

8 0

2 years ago

An electronics firm is considering how best to supply the world market for microprocessors used in consumer and industrial elect

nadezda [96]

Answer:

Explanation:

The total value of the world market for this product, over the next 10 yes is minimum of 10 billion dollars.

In a year, this will be 1 billion dollars

To start the manufacturing, a plant worth 500 million dollars has to be erected. This is half of a billion, meaning that the company will make total revenue of 1 billion and have total cost of at least half a billion, in a year.

So the company's yearly profit will be equal to the amount used to erect a manufacturing plant

But hey, the company will pay workers and its workers are highly skilled (will deserve a high pay for their skills) so the company won't even make up to the above calculated profit in a year!

Now, owing to this situation - the situation whereby the expected revenue for the product is not so much above the cost of production - we prescribe CONCENTRATED or CENTRALIZED MANUFACTURING.

This is a case where just a single plant or manufacturing facility will be used to produce the microprocessors. Since the company is virtually just starting out, starting with one plant will be better for them. The customization of their product will be efficient here, as opposed to Decentralized manufacturing (where they'll use a number of plants).

Also, centralized/concentrated manufacturing reduces production cost per unit of the good.

The cost of production is also relatively lower and there is almost no leakage in the utility of resources at the plant because that is the only plant the company has. There'll b maximum utility of facilities and resources.

(B) What kind of locations should the firm favour for its plants??

Here, we consider the fact that the prevailing tariffs in this industry are currently low.

This means that we can focus on other things like:

Nearness of the plant to source of raw materials

Nearness to the required kind of labour (highly skilled labour)

Proximity to consumers (those who purchase the product)

Of these and more factors, I prescribe nearness to highly skilled labour. If raw materials also happen to be in the same region as the required workforce, that is a plus to the company.

The company will hence be better of with a Concentrated manufacturing strategy and a location that favours lower cost of factors of production (land, labour, capital, entrepreneurship)

6 0

2 years ago