The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Direct Materials Conversion
Units transferred out 40,000 EUP 40,000 EUP
Units of ending work in process 4,500 EUP 2,700 EUP
Equivalent units of production 44,500 EUP 42,700 EUP

Costs per EUP Direct Materials Conversion
Costs of beginning work in process $43,950 $5,360
Costs incurred this period 490,050 280,730
Total costs $534,000 $286,090

Units in beginning work in process (all completed during July) 4,000
Units started this period 40,500
Units completed and transferred out 40,000
Units in ending work in process 4,500

Required:
Prepare its process cost summary using the FIFO method.

Which type of data does your company collect from customers or potential customers? a. positioning datab. market share datac. primary datad. secondary data select the best answer from the choices provided

Your assessment tool contains rich data about child progress in language and literacy but no details to explain the differences between children. you decide to: a. replace the tool with another b. analyze the data using factors such as language, ability, and participation rates c. review your anecdotal notations regarding language and literacy development d. talk with families about what they are seeing at home

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale