What is the multiple choice answer for numbers 7 8 and 9? 8:20 M7) Raymond Inc. has the following informationin its books for the month of November2020.1 Nov. WIP (25% completed as toconversion cost)5,000Started into production during November60,00030 Nov. WIP (30% completed as toconversion costs)15,000Costs were as follows:Conversion ($)MaterialsNovember 1 WIP1 0151 450November Costs54,87516, 200The company uses the FIFO method and allmaterials are added at the start ofproduction.Calculate the cost per equivalent unit formaterialsa) $0.39b) $0.27c) $0.29d) $0.44|| 8:20 M8) Avery is planning to purchase inventory forresale costing $100,000 in July. $150,000 inAugust and $90,000 for September. Thecompany pays 40% for the goods in themonth of purchase and 60% in the monthfollowing the purchase. What is thebudgeted cash disbursement for thepurchase of the inventory for the month ofSeptember?a) $100,000b) $150,000c) $90,000d) $126,0009) This standard is set at a level that may bereached with reasonable efforta) Attainable standardb) Unattainable standardc) Ideal standardd) Variance from standard10) Under the method of least squares, alinear equation is developed in the form ofwherein Y is total cost, a= fixed cost, xis output and b= marginal cost.a) Y=a*bxb) Y=a-bxc) Y=a+bxd) Y=ab*x||

NOTE : As per BARTLEBY guidelines, when multiple questions are given, then first question is to be…

7) Raymond Inc. has the following information in its books for the month of November 2020. 1 Nov. WIP (25% completed as to conversion cost) 5,000 Started into production during November 60,000 30 Nov. WIP (30% completed as to conversion costs) 15,000 Costs were as follows: Conversion ($) Materials November 1 WIP 1 015 1 450 November Costs 54,875 16, 200 The company uses the FIFO method and all materials are added at the start of production. Calculate the cost per equivalent unit for materials a) $0.39 b) $0.27 c) $0.29 d) $0.44

7) Raymond Inc. has the following information in its books for the month of November 2020. 1 Nov. WIP (25% completed as to conversion cost) 5,000 Started into production during November 60,000 30 Nov. WIP (30% completed as to conversion costs) 15,000 Costs were as follows: Conversion ($) Materials November 1 WIP 1 015 1 450 November Costs 54,875 16, 200 The company uses the FIFO method and all materials are added at the start of production. Calculate the cost per equivalent unit for materials a) $0.39 b) $0.27 c) $0.29 d) $0.44

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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