Investment Assets at Year End $170,000 Investment Assets at Beginning of Year $125,000 Savings $25,000 Employer Match to 401(k) $4,800 Gross Income $120,000 Total Assets at Year End $650,000 Total Assets at Beginning of Year $610,000 Total Liabilities at Year End $235,000 Total Liabilities at Beginning of Year $240,000. What was the return on assets (ROA) for the year?

a. 1.67%.
b. 3.25%.
c. 6.56%.
d. 13.74%.

Answer:

[tex]P(3.0<\bar X<6.0)= P(-2.894< Z< -0.442) = P(Z<-0.442) -P(Z<-2.894) = 0.329 -0.0019=0.327[/tex]

Explanation:

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".  

Solution to the problem

Let X the random variable that represent the profits of a population, and for this case we know the distribution for X is given by:

[tex]X \sim N(6.54,10.45)[/tex]  

Where [tex]\mu=6.54[/tex] and [tex]\sigma=10.45[/tex]

We are interested on this probability :

[tex]P(3.0<\bar X<6.0)[/tex]

And the best way to solve this problem is using the normal standard distribution and the z score given by:

[tex]z=\frac{x-\mu}{\frac{\sigma}{\sqrt{n}}}[/tex]

And we can find the z score for the two limits 3.0 and 6.0 and we got:

[tex] z_1 = \frac{3-6.54}{\frac{10.45}{\sqrt{73}}} = -2.894[/tex]

[tex] z_2 = \frac{6- 6.54}{\frac{10.45}{\sqrt{73}}} =-0.442 [/tex]

So then we can calculate the probability on this way:

[tex]P(3.0<\bar X<6.0)= P(-2.894< Z< -0.442) = P(Z<-0.442) -P(Z<-2.894)[/tex]

And we can use the normal standard distribution or excel to calculate the probabilities and we got:

[tex]P(3.0<\bar X<6.0)= P(-2.894< Z< -0.442) = P(Z<-0.442) -P(Z<-2.894) = 0.329 -0.0019=0.327[/tex]

Barb is correct. The agreement must be in writing to be enforceable.

Explanation:

A written agreement that is legally binding is a true agreement and can therefore be enforced.

It ensures that the people that signed the agreement must perform their duties under the agreement. We can be penalized if they do not.

Although documents need not be published to be legally binding, it is a good idea to keep a record in writing of what you have agreed. It minimizes the likelihood that you and the other side will find themselves on the same page in a disagreement. The article describes the conditions for a legally binding written agreement.

Answer:

correct option is D). $454,513

Explanation:

given data

Annuity = $2000

rate = 7.5 % = 0.075

time period = 40 year

solution

we get here Future value of annuity that is express as

Future value of annuity = Annuity ×  [tex]\frac{(1+r)^t -1}{r}[/tex] ......................1

here r is rate and t is time period so now put value and we get

Future value of annuity = $2000 ×  [tex]\frac{(1+0.075)^{40} -1}{0.075}[/tex]  

Future value of annuity =  $454513.03

so correct option is D). $454,513

The correct answer is D) $454,513, which is obtained by using the future value of an annuity formula that considers a $2,000 annual contribution, a 7.5% expected annual rate of return, and a 40-year investment period.

The question involves calculating the future value of an annuity when you plan to save $2,000 annually at the end of each year in a Roth IRA, with an expected annual rate of return of 7.5% over 40 years. To find the accumulated amount at retirement, we will use the future value of an annuity formula:

FV = P × [( 1 + r)^n – 1] / r

Where:

FV = Future Value of the annuity

P = Annual payment ($2,000)

r = Annual interest rate (7.5% or 0.075)

n = Number of years (40)

By plugging in the values:

FV = $2,000 × [( 1 + 0.075)^40 – 1] / 0.075

Therefore, After calculating the formula, we find that the amount you will accumulate at retirement after 40 years of investing is $454,513.

Answer:

$101,228; $68,835; $24,736

Explanation:

Given that,

Sales = $510,944

Costs = $332,416

Depreciation = $77,300

Tax rate = 32%

EBIT:

= Sales - costs - Depreciation

= $510,944 - $332,416 - $77,300

= $101,228

Net income = EBIT - Taxes

                   = $101,228 - ($101,228 × 32%)

                   = $101,228 - $32,393

                   = $68,835

Depreciation tax shield:

= Depreciation × Tax rate

= $77,300 × 32%

= $24,736

Answer:

1. fall

2. Larger

3. more

Explanation:

The price elasticity is relative measure of change in demand. When the demand of heating oil decreases due to increase in price then the heating oil is considered as price elastic. The elasticity of heating oil is 0.2 in the short run and 0.7 in the long run which means customers respond less in change of demand in short run due to change in price. When the price of heating oil increases, the demand will fall in the short run.

In the short run customers may not find time to respond to the change in price. The change in demand in short run is smaller and change in demand in Long run will be larger.  

The price elasticity of heating oil is more in long run because customer may find alternate sources at a cheaper rate and may switch to it causing a greater fall in demand of heating oil.  

Answer:

correct option is b. $159,000

Explanation:

given data

purchase land = $96,000

offer sale = $172,000

assessed for tax purposes = $106,000

recognized  purchaser worth = $162,000

purchased = $159,000

solution

we know that when we purchase a parcel of land then

the price paid for by the purchaser is the amount  and that amount is to be recorded in the books

so that land will record in the purchaser books is  $159,000

so correct option is b. $159,000  

Answer:

$35,000

Explanation:

Gross Profit:

= Sales - Cost of Goods sold

= $560,000 - $400,000

= $160,000

Income before tax:

= Gross Profit - Salary Expense - Interest expense

= $160,000 - $40,000 - $30,000

= $90,000

Income after tax:

= Income before tax - Tax

= $90,000 - $25,000.

= $65,000

Transfer to Retained Earnings:

= Income after tax - Dividend

= $65,000 - $30,000

= $35,000

Closing Retained Earnings:

= Net Income (After tax) - Dividend payment

= $65,000 - $30,000

= $35,000

To calculate the retained earnings on the balance sheet, subtract the total expenses from the sales revenue to find the net income. Then, subtract any dividends paid out from the net income to find the retained earnings.

To calculate the retained earnings on the balance sheet, we need to consider the net income of the company for the first year of operation. Net income is calculated by subtracting the total expenses from the sales revenue. In this case, net income would be calculated as: $560,000 (sales) - $400,000 (cost of goods sold) - $40,000 (salary expense) - $30,000 (interest expense) - $25,000 (income tax expense) = $65,000.

The retained earnings can then be calculated by subtracting any dividends paid out from the net income. In this case, the dividends paid out are $20,000, so the retained earnings would be: $65,000 - $20,000 = $45,000.

Therefore, the amount reported as retained earnings on the balance sheet at December 31, 2017, if this is the first year of operations, would be $45,000.

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Mr. and Mrs. Dane and their six children may be an affiliated group eligible to file a consolidated corporate tax return if they meet the IRS criteria of common control and unitary business. An individual who owns a corporation and is the sole employee is liable for federal income tax, self-employment tax, and possibly corporate income tax, depending on the structure of the corporation.

The question pertains to whether Mr. and Mrs. Dane and their six children, who own 100 percent of the stock in three family corporations, are considered an affiliated group eligible to file a consolidated corporate tax return. Under IRS regulations, a group of corporations may file a consolidated tax return if they are engaged in a unitary business under common control. Typically, common control entails direct ownership of at least 80 percent of the voting power and value of the stock. If Mr. and Mrs. Dane and their children meet these criteria with each of their family corporations, they could potentially file a consolidated return. However, there are additional rules and complexities to consider when determining eligibility for filing a consolidated return.

Regarding the question about the types of federal tax an individual would have to pay if they own a corporation and are the only employee, the individual will generally be responsible for several types of taxes. These typically include federal income tax, self-employment tax (which covers Social Security and Medicare taxes), and potentially corporate income tax, depending on the corporate structure. If the corporation is a C corporation, it would pay its own corporate income tax, whereas if it's an S corporation or LLC taxed as a disregarded entity, income and losses are passed through to the owner's personal tax return.

Answer:

B. An accounting firm would likely use a job order costing system

Explanation:

The job order costing is the cost which is depended upon the various job needs that reflects the differential costing based on the instructions given by the customer.

On the other hand, the process costing deals with different processes that are held in the company premises.

As we cant say which costing is used but the job order costing is used by the accounting firm as it gives the various services depending upon the customer needs and for that separate fees is to be charged.

Answer:

D. either real output or the price level (GDP deflator) have increased.

Explanation:

GDP is the total value (price x quantity) of goods & services produced by an economy during an a time period.  

Real GDP is calculated on the basis of base year price index. Nominal GDP is calculated on the basis of current year price index.

So: Real GDP increases only due to rise in output quantity, not by price. Nominal GDP can increase due to rise in both output quantity or in price level (reflected in deflator).

This makes Real GDP  a better measure of Economic growth than Nominal GDP, since it captures effect of increased production only (& not price).

Deflator is a measure of average price level change =

Nominal GDP  X 100

 Real GDP

Deflator > 100 shows inflation in general price level, Deflator < 100 shows deflation in general price level.

Relevant Information:

The relevant information is as under:

Segmented income statements appear as follows:

Product                                    Original  Strawberry  Orange

Sales                                     65,200   85,600          102,400

Variable costs                     (44,000)   (77,200)  (80,200)

Contribution margin              21,200     8,400    22,200

Fixed costs allocated                (9,400)    (12,000)   (14,200)

Operating profit (loss)       11,800      (3,600)      8,000  

Answer:

The product not be closed because it is generating net cash flows of ($3,060), which will generate loss for the organization. The better option would be to not abandoning the manufacturing of Strawberry.

Explanation:

Relevant costing says that any savings or losses are relevant if it satisfy following three conditions:

Its crystal clear that any inflows and outflows that are considered would be cash in nature, not related to past events it must be arising as a consequence of taking the decision whose consequences are we considering now, I mean it must arise in future due to the decision made which are considering. The last condition is the concept of differential that lies in the heart of relevant costing and is easily understood by following the following steps:

Step 1: What are the losses or savings if we don't make decision?

Step 2: What are the losses or savings if we make the decision?

Step 3: The difference between step one and two is differential or incremental cost.

Here we learned that relevant cost arises if we take the decision (closing manufacturing of Strawberry), and it doesn't arises if we don't take the decision (not abandoning manufacturing of  Strawberry).

Relevant costs associated with the decision are as under:

                                                    Step 1              Step 2        Step 3

                                            Make Decision    If we Don't Differential

Revenue loss                             (85,600)               -          (85,600)

Variable Costs Savings              77,200                 -            77,200

Fixed costs Savings (W1)             5340                   -              5340

Operating Profit                                                                   (3,060)

Working1: Fixed costs Savings

Total Fixed costs =21400+12000+14200 = $35,600

The saving is 15% of the total fixed cost and is as under:

Fixed costs Savings = $35,600 * 15% = $5340

Note:

Kindly also practice the following question:

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Answer:

Price and quantity of chickens sold will increase.

Explanation:

Due to the prevalence of the mad cow disease, demand for cow meat will go down. Since chicken is a substitute for cow meat and there is a breed that grows twice as much with the same feeds, the demand for chicken will rise.

In economics when other factors apart from price changes it results in demand shift. In this instance demand will shift to the right.

As illustrated in the attached diagram, there will be higher quantity demanded at higher prices than before.

Answer:

a) The table is completed in the explanation

b) Net income = $16,700

Explanation:

The question is to complete a calculation table for each of the transactions as follows:

Transaction             Assets           = Liabilities                + Stockholders Equity

a.         Cash             $54,000                                             Revenue   54,000

b. Supplies               +4,650     Account Payable +4,650

c. Cash                     +62,600   Notes Payable    +62,600  

d. Equipment          +25,200    

   Cash                    -$25,200

e. Cash                    -$19,800    Accounts Payable +9,900 Sell Exp -29,700

f. Prepaid Expense  +$8,200                                                  rent Exp -8,200

   Cash                    -$16,400                                                                              

                                 $93.850                                    $77,150               $16,700

2. Calculate the Preliminary Net income for the company

Description                 Amount

Sales Rev.                 $54,600

Subtract:

Selling Expenses       ($29,700)

Rent Expenses           ($8,200)

Net Income                $16,700

The transactions affected various accounts under the accrual basis in different ways, some increasing and some decreasing. The preliminary net income for the month was calculated to be $16,700.

Transaction (a): Cash account increases by $54,600 (+). Revenues increase by $54,600 (+), affecting stockholders' equity positively.

Transaction (b): Supplies account increases by $4,650 (+). Accounts Payable increases by $4,650 (+), affecting stockholders’ equity negatively.

Transaction (c): Cash account goes up by $62,600 (+). Long-term Notes Payable increase by $62,600 (+), which doesn't affect stockholders' equity directly.

Transaction (d): Equipment account increases by $25,200 (+). Cash account decreases by $25,200 (-), which doesn't affect stockholders’ equity directly.

Transaction (e): Selling expenses amount to $29,700 (+), which decreases stockholders' equity. Cash goes down by $19,800 (-) and Accounts Payable go up by $9,900 (+).

Transaction (f): Prepaid Rent account goes up by $8,200 (+). Cash account decreases by $16,400 (-). Rent Expense decreases stockholders’ equity by $8,200 (-).

Preliminary Net Income: This is the total Revenue minus the Expenses. If we count the revenues as $54,600 and selling expenses as $29,700 and rent expense as $8,200, the preliminary net income will come out to $16,700.

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Answer:

Contribution Margin Income Statement for the year end MM DD, YY

                                                                      $                $

Sales revenue ($100 per unit)                                    66,000

Less: Variable Cost

Less cost of goods sold ($56 per unit)   36,960

Commissions expense ($6 per unit)         3,960

Shipping expense ($3 per unit)                1,980  

                                                                                     42,900

Contribution Margin                                                    23,100

Less: Fixed Cost

Salaries expense                                        7,900

Advertising expense                                  5,800  

                                                                                     13,700

Net Income                                                                  9,400

Answer:

cost per helmet: $17.52

Explanation:

The manufacturing cost only should be considered that is overhead,labor and materials.

Overhead

Rent on factory equipment                           11,300

Depreciation on factory building                   1,600

Property taxes on factory building                  500

Miscellaneous materials (glue, thread, etc.) 1,300

Factory manager’s salary                              6,500

Insurance on factory building                        1,700

Utility costs for factory                                  1,000

Depreciation on office equipment                  800  

Total Overhead:                                           24,700

Raw materials (plastics, polystyrene, etc.) 84,800

Wages for assembly line workers               65,700

Total Manufacturing Cost                           175,200

helmet produced: 10,000

cost per Helment: 175,200 / 10,000 = $17.52

The total monthly cost of producing helmets is $174,400. When this total cost is divided by the number of helmets produced in a month (10,000), the result is $17.44. Therefore, the cost to produce one helmet is $17.44.

To figure out the cost to produce one helmet, all costs associated with production need to be added up. These include rent on factory equipment ($11,300), insurance on factory building ($1,700), raw materials ($84,800), utility costs ($1,000), wages for assembly line workers ($65,700), miscellaneous materials ($1,300), factory manager's salary ($6,500), property taxes on factory building ($500), and depreciation on factory building ($1,600).

The sum of these costs is $174,400. This total cost is then divided by the number of helmets produced per month, which is 10,000. $174,400 / 10,000 = $17.44.

Therefore, the cost to produce one helmet is $17.44.

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Answer:

tbh i did b

Explanation:

i did it

Answer:

$3,286.52

Explanation:

PVA= A×({1 −[1 / (1 + i)n]} / i)= $24,000 ×({1 −[1 / (1.12)25]} / .12)

= $188,235.34

FVA= A×{[(1 + i)n−1] / i}A=

FVA/ {[(1 + i)n−1] / i}= $188,235.34 / {[(1.10)20−1] / .10}= $3,286.52

To determine the annual deposit into an account earning 10 percent that is necessary to accumulate$188,235.34 after 20 years, solve for the annuity:

N= 20

I/Y=10

PV=0

PMT=CPT PMT -3286.52

FV=188 235.34

Answer: $3,286.52

Answer:

Business Process Re-engineering

Explanation:

This involves redesign business processes in such a manner that repetition is avoided and wastes  as well as its costs are avoided.

By re-engineering business processes,organizations can identify those activities that are value adding and prioritize,while those that do not add value are eliminated.

Answer:

The correct answer is letter "D": For prior years were received in the current years.

Explanation:

The Social Security lump-sum election refers to a payment made in the current year based on similar payments sent on previous years. That payment could be subject to taxes. The Average Gross Income (AGI) of the taxpayer will determine if the lump-sum is taxable or not.

Answer:

$36,022

Explanation:

Given that,

Outcome A:

Probability = 0.20

Units = 315

Price = $38

Outcome B:

Probability = 0.50

Units = 550

Price = $53

Outcome C:

Probability = 0.30

Units = 870

Price = $73

Therefore,

Expected value of the total sales projection:

= Outcome A + Outcome B + Outcome C

= (0.20 × 315 × $38) + (0.50 × 550 × $53) + (0.30 × 870 × $73)

= $2,394 + $14,575 + $19,053

= $36,022

The expected value of the total sales projection is $36,346.

The expected value of the total sales projection can be calculated by multiplying the number of units sold in each scenario by the corresponding probability and price, and then summing up those values. In this case, we have three scenarios: A, B, and C. Here are the calculations:

Now, we can find the total expected value by summing up the values for each scenario:

Total expected value = $2,394 + $14,575 + $19,377 = $36,346

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Answer:

$2,527.5

Explanation:

Indirect labor hours:

= Estimated total indirect costs ÷ Direct labor hours per year

= $222,000 ÷ 24,000

= $9.25

Total job​ cost:

= Direct labor cost  + Indirect labor cost

= (direct labor rate per hour × Number of direct labor hours) + (Number of direct labor hours × Indirect labor rate per hour)

= ($75 × 30) + (30 × $9.25)

= $2,250 + $277.5

= $2,527.5

Answer:

a.  20 + 24Q - 4Q^2

b. 40 ; 40

c. 24 - 8Q

Explanation:

The equations are as follows:

a. The net benefit is

= Total benefits - Total costs

where,

Total benefits = B(Q) = 100 + 36Q – 4Q^2

Total costs = 80 + 12Q.

So, the net benefit is

=  100 + 36Q - 4Q^2 - 80 - 12Q

= 20 + 24Q - 4Q^2

b. When Q = 1,

N(Q) = 20 + 24 ×1  - 4×1^2

       = 40

When Q = 5,

N(Q) = 20 + 24 × 5  - 4×5^2

       = 40

c. MNB(Q) = dN(Q) ÷ dQ

                 = 24 - 8Q

We use the derivatives

The equation for net benefits is NB(Q) = 20 + 24Q - 4Q^2. When Q = 1, the net benefits are 40, and when Q = 5, the net benefits are also 40. The equation for marginal net benefits is MNB(Q) = 24 - 8Q.

a. The equation for net benefits is NB(Q) = B(Q) - C(Q). Substituting the given equations for B(Q) and C(Q), we have NB(Q) = (100 + 36Q - 4Q^2) - (80 + 12Q). Simplifying further, NB(Q) = 20 + 24Q - 4Q^2.

b. To find the net benefits when Q = 1, we substitute Q = 1 into the equation NB(Q). NB(1) = 20 + 24(1) - 4(1)^2 = 20 + 24 - 4 = 40. Similarly, when Q = 5, NB(5) = 20 + 24(5) - 4(5)^2 = 20 + 120 - 100 = 40.

c. The equation for marginal net benefits is calculated by taking the derivative of the net benefits equation. Taking the derivative of NB(Q) = 20 + 24Q - 4Q^2, we get the marginal net benefits equation as MNB(Q) = 24 - 8Q.

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Answer:

The correct answer is letter "C": value harmonious relationships in the groups to which they belong.

Explanation:

Collectivism is the idea of sharing before reserving certain goods to individuals. People and communities with this point of view tend to promote a cooperative environment where the main objective is the satisfaction of all the members of the societies.

Answer:

The correct answers are:

A) Purchase cost of a patent from a competitor. (Capitalized)

B) Research and development costs. (Expensed)

C) Organizational costs. (Expensed)

D) Costs incurred internally to create goodwill. (Expensed)

Explanation:

Basically, for accounting purposes, the difference between capitalization and expenditure relies on the period the assets will be used. When assets are acquired to be used more than in a single period, they are capitalized. When those assets are purchased to be used within part of the current period, they are expensed. Thus:

A) Purchase cost of a patent from a competitor. (Capitalized)

B) Research and development costs. (Expensed)

C) Organizational costs. (Expensed)

D) Costs incurred internally to create goodwill. (Expensed)

Answer:

7,451

Explanation:

The net income is the profit/loss made after the deduction of all expenses from the revenue or sales made including taxes.

The cost elements includes the fixed cost and the variable cost which is dependent on the level of activities.

Given,

Fixed cost = $25,860,000

Variable cost per unit = $12,100

Selling price per unit = $17,000

Tax rate = 28%

Net income planned = $7,668,000

Let the number of freezers to be sold be p

17000p - (12100p + 25,860,000) - 0.28((17000p - (12100p + 25,860,000))= 7,668,000

0.72((17000p - (12100p + 25,860,000)) = 7,668,000

3528p = 7,668,000 + 18619200   = 26287200

p = 26287200  /3528

p = 7451

Crane Machine Works would have to sell 7,451 freezers to make a net profit of $7,668,000.

Final answer:

Crane Machine Works must sell approximately 7,451 soft serve ice cream freezers,

Explanation:

To calculate how many soft serve ice cream freezers Crane Machine Works must sell to generate a net income of $7,668,000, we first need to determine the contribution margin per unit, which is the selling price minus the variable costs. The contribution margin is $17,000 - $12,100 = $4,900 per freezer.

Next, we must calculate the total amount needed to cover the fixed costs and desired net income before taxes. This amount is $25,860,000 (fixed costs) + $7,668,000 (desired net income) = $33,528,000. As Crane's tax rate is 28%, the pre-tax income must be $7,668,000 / (1 - 0.28) = $10,650,000. Therefore, the total amount needed before taxes would be $25,860,000 + $10,650,000 = $36,510,000.

Finally, dividing this amount by the contribution margin per unit gives us the number of freezers Crane needs to sell: $36,510,000 / $4,900 approx. 7,451 freezers.

Answer:

B $4.90

Explanation:

The earnings per share ratio (EPS), is an entities net income after tax that is available the shareholders divided by the weighted average number of shares of common stock that are outstanding during the period of the earnings.

As such, given;

net income after tax = $490,000

number of shares = 100,000

EPS = net income after tax/number of shares

= $490,000/100,000

= $4.90

Answer:

5 years

Explanation:

According to the conservative end of period cash flow approach, cash flow is only computed at the end of the period. Therefore, the payback occurs at the year when the balance ceases to be negative. With constant cash flows of $25,000:

[tex]Initial\ \ \ \ \ \ \ \ \ \ \ \ -\$124,000\\End\ of\ year\ 1\ -\$99,000\\End\ of\ year\ 2\ -\$74,000\\End\ of\ year\ 3\ -\$49,000\\End\ of\ year\ 4\ -\$24,000\\End\ of\ year\ 5\ \ \ \ \ \$1,000[/tex]

The payback period is 5 years.

Answer:

The correct answer is letter "C": Henri Fayol's administrative management.

Explanation:

Turkish economist Henri Fayol (1841-1925) is considered the father of modern management. Fayol summarized his ideas on corporate management in 14 principles in which he emphasizes organizational hierarchy, fair and kind employee treats, and corporate spirit.

Answer:

We stablish that both the cost assigned and the cost accounted for the department matches at $1,327,735.00

Explanation:

Physical Unit Information

Units charged to production:

Beginning 83,000

Started 480,000

Total units accounted for by the Department 563000

Units to be assigned costs:               Equivalent Units

                          Physical Units     DM         Conversion

Beginning                    83,000    0        27,000

Started and completed   437,000 437,000      437,000

Transferred                 520,000  437,000     464,000

Ending                           43,000    32,250 10,750

Total units to be assigned costs 563,000 469250 474750

Costs per equivalent unit:  

                         Direct Materials Conversion

Total cost                   $795,240 $350,295

Total equivalent units   469,250 474,750

Cost per equivalent unit              $1.69      $0.74

Costs charged to production:  

               Direct Materials Conversion Total

Beginning  $128,300.00   $53,900.00   $182,200.00

Costs incurred $795,240.00   $350,295.00  $1,145,535.00

Total costs accounted for by the Department  $1,327,735.00

Cost allocated to completed and partially completed units:

Beginning         $128,300.00   $53,900.00   $182,200.00

To complete beginning  $-     $19,921.99   $19,921.99

Cost of completed WIP                            $202,121.99

Started and completed $740,585.79   $322,441.11   $1,063,026.89

Transferred                                                     $1,265,148.88

Ending                        $54,654.21   $7,931.90   $62,586.12

Total costs assigned by the Department    $1,327,735.00

The equivalent units of production, cost per equivalent unit, cost of ending inventory, cost of units transferred out, and cost reconciliation report for May are all computed using the provided production and cost data for Builder Products Inc.

The equivalent units of production for materials and conversion for May are computed by adding the completed units and a portion of the units still in process. Using the provided data, the equivalent units for materials are 500,000 (=480,000 units started + 83,000 units * 0% + 43,000 units * 75%) and for conversion are 482,275 (=480,000 units started + 83,000 units * 10% + 43,000 units * 25%).

The cost per equivalent unit for materials and conversion for May are then calculated by dividing the total cost by the equivalent units of production. Thus, the cost per equivalent unit for materials is $1.59 ($795,240/500,000) and for conversion is $0.72 ($350,295/482,275).

The cost of ending work in process inventory can be obtained by multiplying the cost per equivalent unit by the percentage completion of the inventory for materials and conversions. For materials, it is $64,450 (=43,000*75%*$1.59) and for conversion, it is $7,740 (=43,000*25%*$0.72). Therefore, total cost of ending work in process inventory is $72,190 ($64,450 + $7,740).

Cost of units transferred out is calculated as the difference between the total cost and the cost of ending work in process inventory. Therefore, the cost transferred out for materials is $730,790 ($795,240 - $64,450), for conversion is $342,555 ($350,295 - $7,740), and in total is $1,073,345 ($730,790 + $342,555).

In a cost reconciliation report for May, we start with the beginning inventory costs and costs added during May. Then we subtract the cost of units transferred out and the ending Work in Process inventory costs to get zero. In this case, the beginning inventory is $182,200, costs added is $963,335, cost of units transferred is $1,073,345, and ending Work in Process is $72,190, which equals zero when balanced correctly.

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Answer:

25 kanban containers

Explanation:

Given that,

Daily demand = 2,000 units

Production lead time = 4 days

Container size = 400 units

Lead time demand:

= Daily demand × Production lead time

= 2,000 units × 4 days

= 8,000 units

Safety Stock:

= Number of days × Daily demand

= 1 day × 2,000 units per day

= 2,000 units

Number of Kanban containers needed:

= (Lead time demand + Safety Stock) ÷ Container size

= (8,000  + 2,000) ÷ 400

= 10,000 ÷ 400

= 25

To support the Kanban system in the welding department, 20 Kanban containers will be needed, based on the daily demand, production lead time, and container capacity.

To calculate the number of Kanban containers needed in the welding department to support the Kanban system, we can use the following formula:

(Daily demand) * (Production lead time in days) / (Container capacity)

Using the data provided:

Daily demand = 2000 units

Production lead time = 4 days

One container fits = 400 units

Now, let's plug in the values:

(2000 units per day) * (4 days) / (400 units per container) = 20 containers

Therefore, 20 Kanban containers will be needed to support this system efficiently.