The following information is available: Units in process, Dec. 1 (60 percent converted) 2,000 units Units in process, Dec. 31 (50 percent converted) 1,000 units Units started during the month 7,500 units Materials are added at the beginning of the process. How many equivalent units in process for conversion were there in December
[tex]p\%=\dfrac{p}{100}\\\\3\%=\dfrac{3}{100}=3:100=0.03[/tex]
Explanation:
UNITS TO ACCOUNT FOR:
Beginning Work in Process units 2,000
Add: Units Started in Process 7,500
Total Units to account for: 9,500
Equivalent Units:
UNITS Conversion cost
% Completion Units
Units completed 8500100% 8,500
Ending Work in Process 100030% 300
Total Equivalent units 9500 8,800
65% = 0.65 = 65/100
(65/100) / (5/5) = 13/20
13/20 is the simplest fraction achievable.
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2.01yrs
Explanation:
future value = present value * (1+r)^n
where r = interest rate per period
and n = number of periods
=>
1480 * (1+7.7%/2)^n = 1300 * (1+7.7%)^n
=>
n = 2.01 year
206/100
103/50
2 3/50
2 whole and 3/50
$915.71
Explanation:
Price of the bond is determined by calculating the present value of all cash flows.
We will use following formula in Excel
=nper(rate,pmt.-pv,fv)
rate = Interest rate = 12% x 6/12 = 6%
pmt = Coupon Payment=$1000 x 8.3% x 6/12=$41.50
pv = Price of first coupon = $813.04
fv = Face value = $1000
Placinf all the values in the formula
=nper(6%,41.50,-813.04,1000)= 16.00
Years to maturity=16/2=8 years
The years to maturity of second bond=8+3=11 years
price of second bond=-pv(rate,nper,pmt,fv)
rate = 6%
nper = 11 years x 2= 22
pmt =5.3% x $1000=$53
fv = $1000
Placing values in the formula
=-pv(6%,22,53,1000)=$915.71
$ 915.71
Explanation:
In order to determine the second bond price we need to determine the number of years to maturity of the first bond using nper formula in excel.
=nper(rate,pmt.-pv,fv)
rate is the semiannual interest rate of 6% (12%*6/12)
pmt is the semiannual interest=$1000*8.3%*6/12=$41.50
pv is the current price at $813.04
fv is the face value of $1000
=nper(6%,41.50,-813.04,1000)= 16.00
The years to maturity=16/2=8 years
The years to maturity of second bond=8+3=11 years
price of second bond=-pv(rate,nper,pmt,fv)
rate is 6%
nper is 11 years multiplied by 2= 22
pmt =5.3%*$1000=$53
fv is $1000
=-pv(6%,22,53,1000)=$915.71
[tex]p\%=\dfrac{p}{100}\\\\3\%=\dfrac{3}{100}=3:100=0.03[/tex]
7,800 units
Explanation:
work in process December 1 = 2,000 units x 60% = 1,200 equivalent units
work in process December 31 = 1,000 units x 50% = 500 equivalent units
unis started during the month = 7,500
total units transferred out = 2,000 units + 7,500 units - 1,000 units = 8,500
equivalent conversion units = total units transferred out + ending WIP - beginning WIP = 8,500 units + 500 units - 1,200 units = 7,800
[tex]p\%=\dfrac{p}{100}\\\\206\%=\dfrac{206}{100}=\dfrac{206:2}{100:2}=\dfrac{103}{50}=\dfrac{100+3}{50}=\dfrac{100}{50}+\dfrac{3}{50}=2\dfrac{3}{10}\\\\\boxed{206\%=\frac{103}{50}=2\frac{3}{50}}[/tex]