Based on the following data for Privett Company, what is the amount of quick assets? Privett Company Accounts payable $35,064 Accounts receivable 60,450 Accrued liabilities 6,603 Cash 17,192 Intangible assets 42,636 Inventory 89,511 Long-term investments 102,224 Long-term liabilities 78,988 Marketable securities 39,296 Notes payable (short-term) 22,632 Property, plant, and equipment 645,221 Prepaid expenses 2,401 Select the correct answer. $791,220 $1,581,301 $56,488 $116,938 Department A had 4,100 units in work in process that were 72% completed as to labor and overhead at the beginning of the period; 31,500 units of direct materials were added during the period; 33,300 units were completed during the period; and 2,300 units were 29% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories.The number of equivalent units of production for material costs for the period was a.33,300 b.35,600 c.31,500 d.29,200 Department R had 4,300 units in work in process that were 73% completed as to labor and overhead at the beginning of the period; 36,300 units of direct materials were added during the period; 38,000 units were completed during the period; and 2,600 units were 30% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was a.35,641 b.39,941 c.44,900 d.38,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Based on the following data for Privett Company, what is the amount of quick assets?

Privett Company
Accounts payable	$35,064
Accounts receivable	60,450
Accrued liabilities	6,603
Cash	17,192
Intangible assets	42,636
Inventory	89,511
Long-term investments	102,224
Long-term liabilities	78,988
Marketable securities	39,296
Notes payable (short-term)	22,632
Property, plant, and equipment	645,221
Prepaid expenses	2,401

Select the correct answer.

$791,220

$1,581,301

$56,488

$116,938

Department A had 4,100 units in work in process that were 72% completed as to labor and overhead at the beginning of the period; 31,500 units of direct materials were added during the period; 33,300 units were completed during the period; and 2,300 units were 29% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories.

The number of equivalent units of production for material costs for the period was

a.33,300

b.35,600

c.31,500

d.29,200

Department R had 4,300 units in work in process that were 73% completed as to labor and overhead at the beginning of the period; 36,300 units of direct materials were added during the period; 38,000 units were completed during the period; and 2,600 units were 30% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was

a.35,641

b.39,941

c.44,900

d.38,000

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