A shortage will result whenever the:
0 government imposes a price oor above the equilibrium price.
0 government imposes a price oor below the equilibrium price.
O government imposes a price ceiling below the equilibrium price.
O quantity suppli
In December, 2,500 quarts of Lambeau Leap Iemonfmintavored ice cream were sold in Madison at
$2 per quart. In February, 4.000 quarts were sold at $2.50 a quart. This change in the price and
quantity sold of ice cream may have been caused by:
Costs of beginning work in process $13,788
Costs incurred Ihie period F: 695 1?2
Total costs to account for:
Total costs accounted for
Difference due to rounding oostlunil
Unit! to account for:
Beginning work in process inventory a
Question 3 0 out of 1 points
The supply of Ford Fusions car will decrease if . Graphically. this is shown as a shift ofthe supply curve to the
. Ceteris paribus, this change in the market for Ford Fusion cars will lead to in the equilibrium price of
Q t. 9 1 points iml
Which of the following is likelvlr to result from an Increase J
in the federal minimum wage?
O an increase in the quantity of labor supplied by lowskilled workers. H
Q a decrease in the quantity of lowskilled labor dema
Question 1 1 points I Save Answer
Which of the following will cause the demand curve for llene's Ideal Iced Tea to shift from DO to
0 all of the below
0 an increase in the price of lchahod's Iced Coee, a substit
Emivaient Units of ProductionWeighted Average Mahlials Conversion
Units oorn pleted 5. transferred out cfw_351,500 x 100% 351 r500! 351 r500!
Units of ending work in prooess
Direct materials (3?,000 I 95%] 31 r450
Conversion (3?,000 x 35% 12,950
Costs resultlng from manufacturing defectMe products or prevldlng services that do not meet
customer expectations are referred to as
The correct answer Is shown. '3 M I
V costs of quality
True or false: The cost object of the plantwlde werheed rate method Is the unit of product.
The correct emer H shown. E H H
This true. The unit of product Is the target of cost assignment under the plentwlde method.
6_ Award: 0 out of 2.00 points Show my answer
Prepare journal entries to record the following production activities.
'I. Incurred $60,000 of direct labor in production [credit Factory Payroll Payable).
2. Incurred $17,000 of indirect labor in production
A disadvantage of using actMtvbaaed casting Is that
The correct answer is sheen. '3 M 1
ellmve better management at aatMtiee.
- collecting and analyzing cost data is expensive.
focueeeen relevant feeble
It allows more effective control nfmete.
Award: 0 out of 2.00 points 9W my answer
Preparejoumal entries to record the following production activities.
1. Purchased $30,000 of raw materials on credit.
2. Used $11000 of direct materials in production.
3. Used $13,500 of indirect materials in pr
Award: 0 out of 10.00 points 5'10 Wt
Oslo Company produces large quantities of a standardized product. The folkrwing information is available
for its production activities for May.
Beginning work in process inventory
Ending work in process i
quivalent Units of ProductionWeighted Average Mehrials Conversion
Units com pleted 8t transterred out (361,566 x 166%) 361,566 361,566
Units of ending work in process
Direct materials (3?,666 I 35%] 31,456
Conversion (3T,666 x 35%
Question 1 1 out of] points
Which of the following will cause the demand curve for Ilenes Ideal Iced Tea to shift from DO to
Selected Answer: all of the below
Question 2 0 out of 1 points
Assume the market f
Assume the market for a perfume named Sizzling" is originally:r in equilibrium. Which of the following
would lead to an increase in the equilibrium price of Sizzling perfume?
O A decrease in consumers' income. assuming "Sizzling" perfume is a n
Question 6 1 out of 1 points
In December. 2,500 quarts of Lambeau Leap Iemonfmintavored ice cream were sold in Madison at $2 per quart. In
February, 4.000 quarts were sold at $2.50 a quart. This change in the price and quantity sold of ice cream may have
Jackson viilompan'j.l uses activity-based costing to allocate their overhead costs. Setup costs of
$350,000 are based on number of batches. Design modication costs of $155,000 are based
on number of design changes. Jackson Company has Identied 40,000 batc
A companyr uses the departmental overhead rate method. Total overhead costs are
35.000000. Of this total. the machining department ls assigned overhead costs of $4,000,000
and the assembly department is allocated the remainder. The machining department us
Johnson Company has the following overhead costs: machine setup $25,000: factory
maintenance $10,00D: heating and lighting $15,000; and assembly line power $5.000. What is
the total indirect labor using acvrtyabased costing?
VYour answer is cor
C [E] ezto.mheducation.com!hm.tpx?todo=postSubmlssichiew
aootlo completed 411.000 10055 411.000
nding work. in process 50.000 51.500
Total EUP F 451.000 - F 445.500
3. Beginning inventory is 00% complete as Ito materials and 40
Technological progress increases the efciency of mass producing 3Dcapable television sets. At the same tlme more cable
and television networks begin broadcasting in 3D Format. increasing the popularity of BIDcapable television sets. On the
basis of this
8 _ Award: 0 out of 2.00 points Show my answer
Prepare joumal entries to neoord the following production activities.
I. Transferred com pleted goods from the Assembly department to nished goods inventory. The goods
2. Sold $445,000 of goo
2. Calculate the costs per equivalent unit of production for the forming department. [Round your answer
to 2 decimal places
Direct Materials $
3. Using the weighted-average method. assign costs to the forming department's outwitspecically. it
The production department in a process manufacturing system completed 411,000 units of product and
transferred them to nished goods during a recent period. Of these units, ?1,000 were in process at the
beginning 01 the period. The other 340,000 units were