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Use the following information for the next 3 questions.
Salmon Manufacturing Company uses a process costing system. Direct materials are added at the beginning of the process. During January, Department Q had a beginning inventory of 2,000 units, 25% complete for conversion costs. During the month 14,000 units were started and there were 1,000 units in ending inventory, 60% complete for conversion costs.
-Using weighted average process costing, the equivalent units for direct material for the month were
Net Income
The total earnings or profit of a business after deducting expenses, taxes, and costs.
Total Dividends
The sum of all dividend payments made by a company to its shareholders over a specific period.
Residual Dividend Policy
A financial policy regarding dividend payments where dividends are only issued after all project and operational expenses have been met and all planned investments are funded.
Optimal Capital Budget
The set of projects that maximizes the value of the firm.
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