Suppose the price of a Snickers candy bar is $2.00 at both the airport and the grocery store. The price elasticity of demand for

Answer:

Total hours worked = 17,550 hours

Explanation:

Labour hours efficiency variance = labour efficiency variance/standard labour cost per hour

The hourly standard labour cost = $24

= 1,200/24= 50 hours

Labour variance (in hours) = Actual labour hours - Standard hours for actual units produced

The standard labour hours allowed for the production of 875 cranes is:

= 20 × 875 = 17,500 hours

Let the actual hours be "y"

50 = y - 17500

y = 50 + 17500

y= 17,550 hours

Total hours worked = 17,550 hours

Correct option is D) "equivalent units completed during the current timeframe plus equivalent units in the final inventory".

Clarification:

The weighted-average process-costing approach calculates an average cost per unit by combining the equivalent units completed in the current timeframe with those in ending inventory. This approach is comparable to the first-in first-out (FIFO) method, differing in that it separates incomplete goods for the computations.

A sampling plan can be viewed as a strategy involving intelligent steps that allow a researcher to select a sample from the general population to assess answers to the current questions. In this situation, a company has developed innovative photocopy machines, and the research task is to estimate the demand for these machines from businesses in Cleveland. The sampling method that could be utilized involves probability sampling techniques, specifically Simple Random Sampling and Systematic Sampling. The defined sample frame comprises the organizations in Cleveland, which should be categorized into small, medium, and large based on their employee numbers. The researcher must evaluate each organization, collecting data through simple random sampling where every organization is assessed. Using systematic sampling, business in Cleveland can be listed for analysis with an arbitrary selection for examination. Given that every organization needs to be evaluated and categorized, a structured approach using Simple Random Sampling and Systematic Sampling is required.

Answer:

$78,000

Explanation:

For calculating the cost of the ending work in process

To begin, we will calculate the material cost per unit.

Material cost per unit = $220,000 / (40,000+15,000)

Material cost per unit= $220,000 / 55,000

Material cost per unit= $4

Next is to find the conversion cost per unit

Conversion cost per unit= $414,000 / (40,000 + (15,000*40%)

Conversion cost per unit= $414000 / 46000

Conversion cost per unit= $9

Now, it’s time to calculate the total cost per equivalent unit

Total cost per equivalent unit= $4 + $9

Total cost per equivalent unit= $13

Then, the equivalent unit of the ending work in process

Equivalent unit of the ending work in process= 15,000 × 40%

Equivalent unit of the ending work in process= 6,000

Finally, we calculate the cost of the ending work in process

Cost of the ending work in process = 6,000 × $13

Cost of the ending work in process = $78,000

Thus, the cost of the ending work in process is $78,000