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Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below:
Materials Labor Overhead
Work in process, May 1. $36,900 $61,650. $299,715
Cost added during May. $223,965 $41,100 $199,810
Equivalent units of production 3,100 3,000 2,900
Required:
Question 1: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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