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Question : 11) The table above gives four production possibilities for airplanes : 1241441

Economics

 

 

 

 

11) The table above gives four production possibilities for airplanes and cruise ships. In possibility A, how many resources are devoted to the production of airplanes?

A) 0

B) few

C) most

D) all

E) It is impossible to tell without more information about the prices of airplanes and cruise ships.

 

12) The table above gives four production possibilities for airplanes and cruise ships. In possibility A, how many resources are devoted to the production of cruise ships?

A) 0

B) few

C) most

D) all

E) It is impossible to tell without more information about the prices of airplanes and cruise ships.

13) Moving from one point to another on a production possibilities frontier implies

A) increasing the production of both goods.

B) decreasing the production of both goods.

C) increasing the production of one good and decreasing the production of another.

D) holding the production levels of both goods constant.

E) changing the amount of factors of production that are employed.

 

14) Assume that an association of young workers has lobbied Congress to require that all workers retire once they reach the age of fifty. What impact would this law have on the nation’s production possibilities frontier?

A) no impact at all

B) The level of unemployment would decrease so the production possibilities frontier would shift outward.

C) The nation would move to a new position on its production possibilities frontier but the frontier itself would not shift.

D) The production possibilities frontier would shift inward.

E) The number of young workers would increase so the production possibilities frontier would shift outward.

 

15) A major earthquake occurs in the central part of the United States. What impact would this have on the nation’s production possibilities frontier and why?

A) It would shift outward because unemployment would be reduced.

B) Nothing would happen because the nation would still have the same capabilities.

C) A tradeoff would occur to replace the resources and goods destroyed.

D) It would shift inward because some of the nation’s resources, such as capital and labor, would be destroyed.

E) It would not shift because people would get to work to replace any capital that was destroyed.

16) When all of the available factors of production are being efficiently employed, the

A) economy is producing at a point within its PPF.

B) economy is producing at a point on its PPF.

C) economy is producing at a point beyond its PPF.

D) PPF disappears.

E) opportunity cost of changing production is infinite.

 

17) In a production possibilities frontier diagram, the attainable production points are shown as

A) only the points on the production possibilities frontier.

B) only the points beyond the production possibilities frontier.

C) only the points inside the production possibilities frontier.

D) the points inside and the points on the production possibilities frontier.

E) any of the production points.

 

18) In the production possibilities frontier model, an unattainable point lies

A) only on the production possibilities frontier itself.

B) only inside the production possibilities frontier.

C) only outside the production possibilities frontier.

D) both on and outside the production possibilities frontier.

E) There are no unattainable points in the production possibilities model.

 

19) Production efficiency is represented by ________ a production possibilities frontier.

A) all points on

B) all points inside

C) all points outside

D) a movement along

E) only one point on

20) If an economy cannot produce more of one good without producing less of another good, this implies that which of the following has been achieved?

A) allocative efficiency

B) minimum marginal cost

C) PPF efficiency

D) production efficiency

E) maximum marginal benefit

 

 

 

 

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July 1, 2023
    

 

111. The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    2/3 completed

6,000

Materials added during April, 10,000 units

26,000

Conversion costs during April

31,000

Goods finished during April, 11,500 units

---

April 30 work in process, 1,500 units,

 

  1/2 completed

---

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The materials cost per equivalent unit (to the nearest cent) for April is: A. $2.60B. $2.58C. $3.02D. $2.26

112. The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    2/3 completed

6,000

Materials added during April, 10,000 units

26,000

Conversion costs during April

31,000

Goods finished during April, 11,500 units

---

April 30 work in process, 1,500 units,

 

  1/2 completed

---

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is: A. $2.70B. $2.53C. $3.02D. $5.60

113. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the average cost method is used to cost inventories was: A. 15,650B. 14,850C. 18,000D. 17,250

114. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for materials if the average cost method is used to cost inventories was: A. 15,650B. 18,000C. 17,250D. 17,700

115. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the material cost per unit (to the nearest cent) would be: A. $2.04B. $1.59C. $1.91D. $2.00

116. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the conversion cost per unit (to the nearest cent) would be: A. $3.71B. $2.84C. $2.97D. $3.23

117. Which of the following industries would normally use job order costing systems and which would normally use process costing systems?Business consultingChemicalsFoodMovieSoap and cosmeticsWeb designer 

Business consultantJob Order

ChemicalsProcess

FoodProcess

Movie studioJob Order

Soap and cosmeticsProcess

Web designerJob order

118. The Desert Springs Water Company has two departments. Purifying and Bottling. The Bottling Department received 62,000 liters from the Purifying Department. During the period, the Bottling Department completed 60,000 liters, including 3,000 liters of work in process at the beginning of the period. The ending work in process was 5,000 liters. How many liters were started and completed during the period? 

57,000 liters started and completed (60,000 completed - 3,000 beginning WIP)

 

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July 1, 2023
    

 

111. The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    2/3 completed

6,000

Materials added during April, 10,000 units

26,000

Conversion costs during April

31,000

Goods finished during April, 11,500 units

---

April 30 work in process, 1,500 units,

 

  1/2 completed

---

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The materials cost per equivalent unit (to the nearest cent) for April is: A. $2.60B. $2.58C. $3.02D. $2.26

112. The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    2/3 completed

6,000

Materials added during April, 10,000 units

26,000

Conversion costs during April

31,000

Goods finished during April, 11,500 units

---

April 30 work in process, 1,500 units,

 

  1/2 completed

---

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is: A. $2.70B. $2.53C. $3.02D. $5.60

113. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the average cost method is used to cost inventories was: A. 15,650B. 14,850C. 18,000D. 17,250

114. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for materials if the average cost method is used to cost inventories was: A. 15,650B. 18,000C. 17,250D. 17,700

115. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the material cost per unit (to the nearest cent) would be: A. $2.04B. $1.59C. $1.91D. $2.00

116. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the conversion cost per unit (to the nearest cent) would be: A. $3.71B. $2.84C. $2.97D. $3.23

117. Which of the following industries would normally use job order costing systems and which would normally use process costing systems?Business consultingChemicalsFoodMovieSoap and cosmeticsWeb designer 

Business consultantJob Order

ChemicalsProcess

FoodProcess

Movie studioJob Order

Soap and cosmeticsProcess

Web designerJob order

118. The Desert Springs Water Company has two departments. Purifying and Bottling. The Bottling Department received 62,000 liters from the Purifying Department. During the period, the Bottling Department completed 60,000 liters, including 3,000 liters of work in process at the beginning of the period. The ending work in process was 5,000 liters. How many liters were started and completed during the period? 

57,000 liters started and completed (60,000 completed - 3,000 beginning WIP)

 

default image
July 1, 2023
    

 

111. The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    2/3 completed

6,000

Materials added during April, 10,000 units

26,000

Conversion costs during April

31,000

Goods finished during April, 11,500 units

---

April 30 work in process, 1,500 units,

 

  1/2 completed

---

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The materials cost per equivalent unit (to the nearest cent) for April is: A. $2.60B. $2.58C. $3.02D. $2.26

112. The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: 

April 1, work in process:

 

  Materials cost, 3,000 units

$  7,500

  Conversion costs, 3,000 units,

 

    2/3 completed

6,000

Materials added during April, 10,000 units

26,000

Conversion costs during April

31,000

Goods finished during April, 11,500 units

---

April 30 work in process, 1,500 units,

 

  1/2 completed

---

 

 

All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is: A. $2.70B. $2.53C. $3.02D. $5.60

113. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the average cost method is used to cost inventories was: A. 15,650B. 14,850C. 18,000D. 17,250

114. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for materials if the average cost method is used to cost inventories was: A. 15,650B. 18,000C. 17,250D. 17,700

115. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the material cost per unit (to the nearest cent) would be: A. $2.04B. $1.59C. $1.91D. $2.00

116. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of the $12,500, $8,000 was for material and $4,500 was for conversion costs. 14,000 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. If the average cost method is used the conversion cost per unit (to the nearest cent) would be: A. $3.71B. $2.84C. $2.97D. $3.23

117. Which of the following industries would normally use job order costing systems and which would normally use process costing systems?Business consultingChemicalsFoodMovieSoap and cosmeticsWeb designer 

Business consultantJob Order

ChemicalsProcess

FoodProcess

Movie studioJob Order

Soap and cosmeticsProcess

Web designerJob order

118. The Desert Springs Water Company has two departments. Purifying and Bottling. The Bottling Department received 62,000 liters from the Purifying Department. During the period, the Bottling Department completed 60,000 liters, including 3,000 liters of work in process at the beginning of the period. The ending work in process was 5,000 liters. How many liters were started and completed during the period? 

57,000 liters started and completed (60,000 completed - 3,000 beginning WIP)

 

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That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

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Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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