General Fabricators Assembles Its Product in Several Departments

question 49

Essay

General Fabricators assembles its product in several departments. It has two departments that process all units. During October the beginning work-in-process in the Assembly Department was half completed as to conversion and complete as to direct materials. The beginning inventory included $12,000 for materials and $3,000 for conversion costs. Ending work-in-process inventory in the Assembly Department was 40 percent complete. Direct materials are added at the beginning of the process; conversion costs are added evenly throughout the process.
Beginning work-in-process in the Finishing Department was 75 percent complete as to conversion. Direct materials are added at the end of the process; conversion costs are added evenly throughout the process. Beginning inventories included $16,000 for transferred-in costs and $20,000 for conversion costs. Ending inventory was 25 percent complete. Additional information about the two departments follows:
Required:
Determine the assignment of costs to units transferred-out and ending inventory , using weighted-average for the Assembly Department and FIFO for the Finishing Department.

Describe the role of virtual reality exposure therapy in treating phobias.

Understand the concept of counterconditioning and its application in reducing or eliminating unwanted behaviors.

Explain the application of behavior modification techniques in shaping desired behavior.

Knowledge of how cognitive aspects are integrated with behavior therapies, specifically in cognitive-behavioral therapy (CBT).

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Definitions:

Diminishing Marginal Utility

The decline in the additional satisfaction a person derives from consuming one more unit of a good or service.

Demand Curves

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

Supply Curves

A graphical representation showing the relationship between the price of a good and the quantity supplied at those prices.

Total Utility

The overall satisfaction or value a consumer derives from consuming a particular quantity of goods or services.