Do you dream of working in show business? Have you ever told your parents? If so, you have probably been told, “That is not a real career” or “You’d better pick something to fall back on.” What they usually mean is that the chances of going to Hollywood and becoming a big movie star are slim. In that way, they are right.

But making Broadway shows, producing Hollywood films, even creating online videos involve many more jobs than just the actors who play in them. So many different people in diverse career paths—from management, to accounting, to marketing—contribute their skills to create the finished products that entertain us! See, you can have a ‘real career’ and work in show business.

For instance, think about the jobs listed below. While those in positions like these get to work in and around show business, the functions they perform are based right in the clusters we considered today: Business Management, Finance, Marketing and Sales. See if you can search online to find what is involved with these three specific jobs. Can you find an example of someone who holds this position? What do they do? How might their job allow them to feel like a part of Hollywood?

Senior Vice President of Theatre Operations
Media Production Accountant
Social Media Director, Film Marketing Agency
Now that you have learned a bit about each of these jobs and what they involve, pop back over to the Bureau of Labor Statistics’ Occupational Outlook Handbook once again to do some more research on them. Find out what education is generally required to enter into each career and what the annual salary could be. Jot down some facts related to each career’s job outlook as well.

Note: You might have to use a broader search term, such as operations manager, accountant, or marketing manager, to find information on these careers.

After this initial research, your task is going to be to create a slideshow presentation to show parents who are worried about their children’s Hollywood dreams. You must provide them with information on solid career options that their children could pursue… careers that would ease parents’ minds and fulfill children’s goals.

Your slideshow must include the following:

Content
A description of each of the three careers that you researched, including what tasks the job requires and why the job is so important
A breakdown of the education requirements for each career, including subjects that might be beneficial in preparing for each career
The projected annual salary for someone in each career and the job outlook according to the Bureau of Labor
A summary of why you think this job is a good choice for someone who is interested in “show business”
Elements
Five slides, broken down in this way:
One slide for each career, containing the content from the first three bullet points above
One slide for the summary, containing the content from the last bullet point above
One slide for your bibliography
Three pictures, one for each of the three careers you are presenting

Answers

Answer 1

The careers that i have researched on  Broadway shows are:

Stage Manager. Theatrical Makeup Artist. Choreographer.What tasks does a stage manager perform?

They consist of:

Planning and leading rehearsals.Sharing with designers and craftspeople the director's wishes.Coordinating the stage crew's job.During the performance, there may be calling cues and actor entrances.supervising the entire performance every time it is given.

In terms of Theatrical Makeup Artist role: Any makeup used by the performers must look well, and that is the responsibility of the makeup artist. In order to develop a look for each actor that will visually support the character, the makeup artist collaborates closely with the costume designer.

In terms of Choreographer role: Working together with the director and musical director, a choreographer creates and choreographs the dance or stylized movement for musical productions. A choreographer collaborates with dancers to develop and interpret concepts and turn them into the final performance.

The credentials are required to be a stage manager are:

A foundation degree, higher national diploma, or degree in stage management, or a course in a similar field like performing arts production, are all options.technical theater and a theater in practice.

The credentials  for Makeup Artists are:

Bachelor, Fashion & Beauty Makeup Artist; Bachelor of Arts in Make Up for Media and Performance.Hair design and makeup artistry.Artistry & Effects in Makeupcollegiate media makeup

Lastly, Despite the fact that a master's degree is frequently required to teach at the university level, many choreographers hold bachelor's degrees in dance. Beginning their careers as professional dancers, choreographers frequently take on jobs as assistant choreographers or in positions that are comparable.

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Related Questions

The 1996 Telecommunications Act ______. a.required both radio and television stations to adhere to the fairness doctrine b.exempted cable stations from the same standards of fairness and decency required of broadcast stations c.prohibited broadcast networks from owning cable stations d.created the equal time rule e.allowed ownership of multiple broadcast stations as long as those stations did not reach more than 35 percent of the market

Answers

Answer:

e. allowed ownership of multiple broadcast stations as long as those stations did not reach more than 35 percent of the market

Explanation:

The 1996 Telecommunications Act is also referred to as the Communications Decency Act of 1996 and it was enacted by the 104th US Congress and signed into law by President Bill Clinton, being effective from 8th February, 1996.

The 1996 Telecommunications Act allowed ownership of multiple broadcast stations as long as those stations did not reach more than 35 percent of the market

Mauro Products distributes a single product, a woven basket whose selling price is $28 per unit and whose variable expense is $23 per unit. The company’s monthly fixed expense is $9,500. Required: 1. Calculate the company’s break-even point in unit sales. 2. Calculate the company’s break-even point in dollar sales. (Do not round intermediate calculations.) 3. If the company's fixed expenses increase by $600, what would become the new break-even point in unit sales? In dollar sales? (Do not round intermediate calculations.)

Answers

Answer:

Results are below.

Explanation:

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 9,500 / (28 - 23)

Break-even point in units= 1,900 units

To calculate the break-even point in dollars, we need to use the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)=  9,500 / (5 / 28)

Break-even point (dollars)= $53,200

Finally, the fixed costs increase to $10,100:

Break-even point in units= 10,100 / 5

Break-even point in units= 2,020 units

Break-even point (dollars)= 10,100 / (5/28)

Break-even point (dollars)= $56,560

nswer the question on the basis of the following cost data. Output Average Fixed Cost Average Variable Cost 1 $50.00 $100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 5 10.00 68.00 6 8.37 73.33 7 7.14 80.00 8 6.25 87.50 If the firm closed down in the short run and produced zero units of output, its total cost would be Multiple Choice $0. $50. $150. $100.

Answers

Answer:

The correct answer is $50.

Explanation:

When the company produces zero units, the only costs that it would incur will be the fixed costs. We need to determine the total fixed costs:

Total fixed costs= Unitary fixed costs*number of units

Total fixed costs= 50*1= $50

Total fixed costs= 25*2= $50

Total fixed cost= 16.67*3= $50

Total fixed cost= 12.50*4= $50

And so on...

On a unitary basis, the fixed costs decrease with production. On a total basis, it remains constant.

Production= 0

Fixed cost= $50

You bought a new game for your PS3, but when you opened the package and used the disk on your machine, it burned out your PS3 and destroyed it as well as creating power short-circuits in your house, which caused a small basement fire. Did you sign an agreement with the game maker that determines the game's warranty, place of jurisdiction, and other important terms?
yes
no

Answers

nooooo
i would take it back or even sue if it was that bad

Answer:

nope ps3 is not important

Which career would be most interesting to someone with a keen eye for photography and visual design?
A. front-of-the-house restaurant management
B. product sourcing
C. marketing and public relations
D. food styling

Answers

Answer:

the career that would be most interesting to some with a keen eye for photography and visual design is food styling.

Suppose you are the lead underwriter for a start-up company. The company plans to sell 10 million shares at the price of $46 per share. It also provides you an over-allotment option of 1.5 million additional shares. Recent road show estimates demand to be around 20 million shares at $46. There is lots of uncertainty about how the stock will perform after trading starts. Consider the following decisions. 18. Before the trading starts tomorrow, you need to allocate (sell) a number of shares to the institutional investors now at the IPO price. How many shares will you allocate

Answers

Answer: 11.5 million shares

Explanation:

The demand for the new shares is 20 million at the IPO price and the company plans to sell 10 million shares only.

Demand therefore exceeds supply so you as the lead underwriter will have to exercise the over-allotment option of 1.5 million additional shares provided to you.

Total shares you allocate will be:

= 10 + 1.5

= 11.5 million shares

With perfect price discrimination, the marginal revenue curve
A) is equal to the demand curve.
B) is below the demand curve. C) is above the demand curve.
D) is horizontal.

Answers

Answer: b

Explanation: Because the monopolist must lower the price on all units in order to sell additional units, marginal revenue is less than price. Because marginal revenue is less than price, the marginal revenue curve will lie below the demand curve.

The following refers to units processed by a breakfast cereal maker in August. Compute the total equivalent units of production with respect to conversion for August using the weighted-average inventory method. Units of ProductPercent of Conversion Added Beginning Work in Process230,00060% Units started570,000100% Units completed620,000100% Ending Work in Process180,00070% Multiple Choice 758,000 800,000 620,000 746,000 884,000

Answers

Answer:

Equivalent units of production= 746,000 units

Explanation:

Giving the following information:

Units completed 620,000 100%

Ending Work in Process 180,000 70%

The weighted average method blends the costs and units of the previous period with the costs and units of the current period.

Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production

Equivalent units of production= 620,000 + (180,000*0.7)

Equivalent units of production= 746,000 units

The estimated unit costs for a company to produce and sell a product at a level of 12,000 units per month are as follows: Cost Item Estimated Unit Cost Direct material $ 32 Direct labor 20 Variable manufacturing overhead 15 Fixed manufacturing overhead 6 Variable selling expenses 3 Fixed selling expenses 4 What are the estimated conversion costs per unit?

Answers

Answer:

$41

Explanation:

Conversion costs = Direct labor + Manufacturing overhead

Manufacturing overhead = Variable manufacturing overhead + Fixed manufacturing overhead

Manufacturing overhead = $15 + $6 = $21

Conversion costs = $20 + $21 = $41

Therefore, estimated conversion costs per unit

= $41

The Tangier Company is considering eliminating the following product line: Product AXP Sales $ 49,000 Less variable costs: Raw materials 29,500 Direct labor 8,600 Contribution margin $ 10,900 Less fixed costs: Production costs allocated to products 16,800 Profit (Loss) $ (5,900 ) What amount of cost is avoidable if Tangier outsources production of this product

Answers

Answer:

$38,100

Explanation:

For avoidable cost, they are example of relevant cost. When a decision is taken , some costs are incurred in connection with such decision, they are known as avoidable cost.

The direct costs associated with a decision to produce are avoidable costs, which entails that such costs will not be incurred should Tangier company decides not to produce.

Therefore, the avoidable cost of Tangier is

= Raw materials cost + Direct labor cost

= $29,500 + $8,600

= $38,100

Diversity in top teams can lead to which of the following? Check all that apply.

Answers

Available options are:

A. upper echelon team Confusion about group processes

B. Improved organizational performance

C. Increased probabilities of groupthink in the team

D. Complexity in group processes

Answer:

Improved organizational performance

Increased probabilities of groupthink in the team

Explanation:

Diversity in business or management means that all the company's employees' ideas and backgrounds are welcomed or encompassed to achieve the company's goals and improve the company's success.

Hence, in this case, Diversity in top teams can lead to

1. Improved organizational performance

2. Increased probabilities of groupthink in the team

Two companies, A and B, both have $1 million in assets, earnings before interest and taxes (EBIT) of $160,000, and the same tax rate. Company A is all equity financed, and Company B is 50% debt financed and 50% equity financed. If Company B's pretax cost of debt is 8%, then Company A will have a ROA that is _____ and a ROE that is _____ than Company B's. a. Option D b. Option C c. Option B d. Option A

Answers

Answer: higher; lower

Explanation:

EBIT for A = 160,000

Equity of A = 1,000,000

ROA of A = 160,000/1,000,000 = 0.16 = 16%

ROE of A = 160,000/1,000,000 = 0.16 = 16%

EBIT for B = 160000 - (1000000 × 50% × 8%) = 120000

Equity of B = 1000000 × 50% = 500,000

ROA of B = 120000/1000000 = 0.12 = 12%

ROE of B = 120000/500000 = 0.24 = 24%

From the above, we can see that Company A has a higher ROA but had a lesser ROE THAN B

Westerly Inc. is a publicly traded company that generated $1000 million in operating income in the most recent year, after taking a depreciation charge of $200 million. The company had capital expenditures of $500 million during the year and its working capital increased by $120 million. If the effective tax rate for the company was 40% for the year, what is the FCFF (Free Cash flow to the Firm) for the most recent year

Answers

Answer:

Free cash flow to the firm = $180million

Explanation:

Free cash flow represents the amount that is left to all the providers of capital after the payment of all all operating expenses, working capital and investment in fixed asset expenditures.

It is computed as cash flow made from operation less capital expenditures

For Blur Communications

The Free cash flow

= EBIT(1-T) + depreciation- increase in capital expenditure - increase in working capital

= 1000 × (1-0.4) + 200 - 500 - 120

= $180 million

Free cash flow to the firm = $180million

1. Describe the effects of combining the words with visual features and body language​

Answers

Body language is the range of nonverbal signals that you use to communicate your feelings and intentions. These include your posture, facial expressions, and hand gestures. Your ability to understand and interpret body language can help you to pick up on unspoken issues or negative feelings in others When speaking with others, your tone clarifies and conveys meaning. A phrase as simple as “I don't know” can be taken in a number of different ways depending on how you decide to express it. Your tone can not only affect how people perceive you but also their willingness to listen to you – especially in the workplace.

The combination of words with visual features and body language makes our speech more interesting and enjoyable.

When speech is combined with body language such as movements, it is capable of turning a conversation that seemed boring into one that is more engaging and memorable.

This would ultimately lead to a more effective and efficient communication. A clear understanding of the body language helps in decoding a person's conversation.

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A company has two options for manufacturing boots. The manual process has monthly fixed costs of $26,380 and variable costs of $5.16 per pair of boots and an automated process with fixed costs of $52,239 per month and variable costs of $2.09 per pair of boots. They expect to sell each pair of boots for $99. What is the monthly break-even quantity (number of units) for the manual process

Answers

Answer:

Break-even point for the manual process= 281.11 unit

Explanation:

Break-even point is the level of activity at which a firm must operate such that its total revenue will equal its total costs. At this point, the company makes no profit or loss because the total contribution exactly equals the total fixed costs.

Break even point in units is calculated using this formula:  

Break even point in units = Total general fixed cost/ (selling price - Variable cost)

Break-even point for the manual process:

Break-even point in units = $26,380/(99- 5.16) = 281.11 units

Break-even point for the manual process= 281.11 units

When George and Arthurine Renfro decided to start a family business in 1990 and market chowchow, a southern regional food, they had to determine how they would price the chowchow by examining the demand for the product (would people rather eat home-made or store-bought), the cost of getting the jars for bottling the chowchow, and how much it would cost to distribute the product to area stores. In other words, the Renfros had to begin the development of their pricing strategy by:

Answers

Answer:

identifying pricing constraints.

Explanation:

From the question we are informed about George and Arthurine Renfro decided who decided to start a family business in 1990 and market chowchow, a southern regional food, they had to determine how they would price the chowchow by examining the demand for the product (would people rather eat home-made or store-bought), the cost of getting the jars for bottling the chowchow, and how much it would cost to distribute the product to area stores. In other words, in this case, the Renfros had to begin the development of their pricing strategy by identifying pricing constraints. .

Pricing constraints can be regarded as

factors which brings about limit of latitude of prices which a company may set.

Many employees say that their managers give them clear and sufficient directions, as well as goals for their work.



True

False

Answers

Answer:

True

Explanation:

This is a true statement, as the leader is responsible for managing and directing his team, although there are several different leadership styles, the leader will always be an example of conduct and professionalism for his subordinates, the behavior of every manager should therefore reflect the company's values.

The transformational leadership style can be described as an example of a manager who provides clear and sufficient guidance, as well as goals for carrying out the work, as this leader is the one who, through his energetic and positive personality, contributes to the development of employees and team collaboration, making employees feel valued, motivated and consequently more productive.

Retirement Investment Advisors, Inc., has just offered you an annual interest rate of 6 percent until you retire in 40 years. You believe that interest rates will increase over the next year and you would be offered 6.6 percent per year one year from today. If you plan to deposit $18,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit

Answers

Answer:

$32,529.54

Explanation:

To determine the answer the difference in future value of the investment options have to be determined

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

First option

$18,000 x (1.06)^40 = $185,142.92

Second option

$18,000 x (1.066)^39 = $217,672.46

Difference in future values = $217,672.46 -  $185,142.92 = $32,529.54

Short Company purchased land by paying $11,000 cash on the purchase date and agreed to pay $11,000 for each of the next six years beginning one-year from the purchase date. Short's incremental borrowing rate is 7%. On the balance sheet as of the purchase date, after the initial $11,000 payment was made, the liability reported is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.)

Answers

Answer: $‭52,431.5‬0

Explanation:

The liability reported will be the present value of the six payments of $11,000.

Since this is a constant amount, it will be an annuity:

= 11,000 * Present value interest factor of an annuity, 6 years, 7%

= 11,000 * 4.7665

= $‭52,431.5‬0

Any difference between this and any options given is down to rounding errors. Pick the closest figure.

Which of the following is NOT a likely major for someone planning to go to medical school?
O Zoology
O Biology
O Biochemistry
O Public relations

Answers

Answer:

public relations

Explanation:

The other choices are all Science related so they are likely majors but, public relations are not.

View Policies Current Attempt in Progress Ivanhoe, Inc. had pre-tax accounting income of $1700000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions:
Received rent from Jane, Co. for 2022 $86000
Municipal bond income $110000
Depreciation for tax purposes in excess of book depreciation $50000
Installment sales profit to be taxed in 2022 $152000
At the end of 2021, which of the following deferred tax accounts and balances exist at December 31, 2021
a) $419,400
b) $471,600
c) $594,000
d) $504,900

Answers

Answer:

$17,200

Explanation:

Calculation to determine deferred tax accounts and balances exist at December 31, 2021

Using this formula

Deferred tax accounts=Rent Received* Tax rate

Let plug in the formula

Deferred tax accounts=$86000* 20

Deferred tax accounts=$17,200 Deferred tax asset

Therefore the deferred tax accounts and balances exist at December 31, 2021 will be $17,200

Q 22.14: The Eccleston Company has the following budgeted sales: January $40,000, February $60,000, and March $50,000. 40% of the sales are for cash and 60% are on credit. For the credit sales, 50% of the amount is collected in the month of sale, and 50% in the next month. The total expected cash receipts during March are

Answers

Answer:

Total cash collection March= $53,000

Explanation:

Giving the following information:

Sales:

February $60,000

March $50,000.

Sales in cash= 40%

Sales on account= 60% (50% of the amount is collected in the month of sale, and 50% in the next month)

We need to calculate the cash collection for March:

Cash collection March:

Sales on Cash March= (50,000*0.4)= 20,000

Sales on account March= (50,000*0.6)*0.5= 15,000

Sales on account February= (60,000*0.6)*0.5= 18,000

Total cash collection March= $53,000

Riverview Company's budget for the coming year includes $7,000,000 for manufacturing overhead, 40,000 hours of direct labor, and 200,000 hours of machine time. If Riverview applies overhead using a predetermined rate based on machine-hours, what amount of overhead will be assigned to a unit of output which requires 0.4 machine hours and 0.30 labor hours to complete

Answers

Answer:

$70

Explanation:

With regards to the above, we need to compute first the overhead application rate.

Overhead application rate = Budgeted overhead / Budgeted activity/Budgeted machine hour

= $7,000,000 / 40,000 labor hours

= $175

Overhead application rate = $175 per direct labor hour

Assigned overhead = Overhead application rate × Number of machine hours consumed

= $175 × 0.4

= $70

Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. July August September Budgeted sales $ 60,000 $ 76,000 $ 52,000 Budgeted cash payments for Direct materials 16,960 14,240 14,560 Direct labor 4,840 4,160 4,240 Factory overhead 21,000 17,600 18,000 Sales are 30% cash and 70% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,800 in accounts receivable; and a $5,800 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,800 per month), and rent ($7,300 per month).
Part 1 (1) Prepare a cash receipts budget for July, August, and September.
Part 2 (2) Prepare a cash budget for each of the months of July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Enter your final answers in whole dollars.)

Answers

Answer:

(1) Total cash receipts:

July = $63,800      

August = $64,800

September = $68,800

2-a. Ending Cash Balance:

July = $15,00

August = $21,173

September = $35,873

2-b. Loan Balance End of Month:

July = $2,898

August = $0

September = $0

Explanation:

(1) Prepare a cash receipts budget for July, August, and September.

Note: See part (1) of the attached excel file for the cash receipts budget for July, August, and September.

From the attached excel file, we have:

Total cash receipts:

July = $63,800      

August = $64,800

September = $68,800

(2) Prepare a cash budget for each of the months of July, August, and September.

Note: See part (2) of the attached excel file for the cash budget for July, August, and September.

In the attached excel file, the following calculation is made:

July loan repayment = July preliminary cash balance - Minimum cash balance required = $17,902 - $15,000 = $2,902

From the attached excel file, we have:

2-a. Ending Cash Balance:

July = $15,00

August = $21,173

September = $35,873

2-b. Loan Balance End of Month:

July = $2,898

August = $0

September = $0

According to the quantity equation, the price level would change less than proportionately with a rise in the money supply if there were also either a a. rise in output or a rise in velocity. b. fall in output or a rise in velocity. c. rise in output or a fall in velocity. d. fall in output or a fall in velocity.

Answers

Answer:

either a rise in output or a fall in velocity.

Explanation:

As per the quantity equation, if the level of the price would varies and less than the increase in the money supply so there should be either a rise in the output or the decline in the velocity

The quantity equation is

MV = PY

where

M denotes money supply

V denotes velocity

P denotes price level

Y denotes output

As the money supply would increase so it would be balance when there is a decline in a velocity or increase in output so that the price would remains the same

hence, the above represent the answer

Someone help soon please!

Answers

Answer:

i'd go with some time in colage with ne degree. ;)

Explanation:

The law of diminishing returns states that as additional increments of resources ______________, the marginal benefit from those additional increments _______________. Select the correct answer below: are reduced, will decline eventually are added; will decline eventually are added; will increase eventually are reduced; will remain the same

Answers

Answer:

are added; will decline eventually

Explanation:

the point of diminishing returns sets in when the optimum capacity has been attained. at this level, increasing production by any extra unit would only bring about little or Fall in output.

if we hold the other factors of production constant/fixed while increasing one input, we will get toa stage where more additions of this input by one unit would only bring about decrease in output or cause output to fall.

therefore in summary this law States that as more increments are added, marginal benefit from increments declines eventually.

A $64,000 machine with a 6-year class life was purchased 2 years ago. The machine will now be sold for $50,000 and replaced with a new machine costing $82,000, with a 10-year class life. The new machine will not increase sales, but will decrease operating costs by $9,000 per year. Simplified straight line depreciation is employed for both machines, and the marginal corporate tax rate is 34 percent. What is the incremental annual cash flow associated with the project

Answers

Answer:

$6,779

Explanation:

Calculation to determine the incremental annual cash flow associated with the project

First step is to calculate the depreciation

Depreciation=[($64,000/6 years)-($82,000/10 years)

Depreciation=$10,667-$8,200

Depreciation=$2,467

Now let calculate the Incremental annual cash flow

Incremental annual cash flow ={($9,000-$2,467)

-[($9,000-$2,467)*34%]+$2,467}

Incremental annual cash flow =[($6,533-$2,221)+$2,467]

Incremental annual cash flow =$4,312+$2,467

Incremental annual cash flow=$6,779

Therefore the incremental annual cash flow associated with the project is $6,779

If you use a check to pay your monthly rent,
A. the check is not money because it is not part of M1.
B. you have used money because the landlord accepted it as a means of payment.
C. the check is considered money because you received something in return.
D. the check becomes money when it arrives at the landlord's bank.
E. the check is not money because it is just an instruction to your bank to make a payment

Answers

Answer:

E

Explanation:

Money is an economic unit that is generally accepted as a medium of exchange in the economy

Functions of money  

1. Medium of exchange : money can be used to exchange for goods and services. For example, money serves as a medium of exchange when you pay $20 for your favourite jeans

2. Unit of account : money can be used to value goods and services, For example, $20 is the value of your favourite jeans

3. Store of value : money can retain its value over the long term, this it can be used as a store of value

M1 includes the most liquid from of money. It includes currency, demand deposits and checking account.

A check is not a form of money. It can be defined as a note or an instruction to a bank to make a payment. The payment can either be honoured or not be honoured

Bentwood Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work-in-process inventory:
Units in beginning work-in-process inventory 1,700
Materials costs $32,300
Conversion costs $18,700
Percent complete with respect to materials 70%
Percent complete with respect to conversion 25%
Units started into production during the month 8,900
Units transferred to the next department during the month 7,700
Materials costs added during the month $154,600
Conversion costs added during the month $253,900
Ending work-in-process inventory:
Units in ending work-in-process inventory 2,900
Percent complete with respect to materials 80%
Percent complete with respect to conversion 35%
The cost per equivalent unit for conversion costs for the first department for the month is closest to:____.
a. $29.33.
b. $29.00.
c. $31.78.
d. $35.51.

Answers

Answer:

$31.28

Explanation:

Calculation to determine what The cost per equivalent unit for conversion costs for the first department for the month is closest to:

First step is to calculate the Total Conversion Cost

Total Conversion Cost=$253,900+$18,700

Total Conversion Cost=$$272,600

Second step is to calculate the Equivalent Units

Equivalent Units =( 7,700 x 100%) + (1,700 + 8,900 - 7,700 ×35%)

Equivalent Units =( 7,700 x 100%) + (2,900 x 35 %)

Equivalent Units =7,700+1,015

Equivalent Units = 8,715 units

Now let calculate the Cost per Equivalent Units using this formula

Cost per Equivalent Unit = Total Cost ÷ Total Equivalent Units

Cost per Equivalent Unit = $272,600 ÷ 8,715 units

Cost per Equivalent Unit = $31.28

Therefore The cost per equivalent unit for conversion costs for the first department for the month is closest to:$31.28

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