Answer:
$7.38
Explanation:
The average cost method recalculates a new cost per unit with each and every purchase made. This new costs would then be used to calculate the costs of goods sold and inventory value.
Average cost per unit = Total Costs ÷ Units available for sale
= (200 x $7 + 800 x $7 + 600 x $8) ÷ 1,600
= $7.375 or $7.38
The average cost per unit for May is $7.38
Answer:
The correct answer is option C.
Explanation:
`If firms can easily enter and exit the market, then firms operating in the market will earn zero economic profit in the long run. This is because the short run is too short for firms to enter and exit so potential firms will enter and exit in the long run.
If the existing firms will be having negative profits, the firms having loss will exit the market. This will reduce market supply. As a result, the price level will increase. This will go on until all firms will have zero economic profits.
Similarly, if the existing firms are having positive economic profits in the long run, the other firms will enter the market. This will increase the market supply such that the price level decreases. This will go on till all the firms will be having zero economic profits.
<h2>Type of business for Juanita </h2>
The type of business best for Juanita to start as a sole proprietorship. This type of business is to purchase or rent the required equipment for the business. For becoming a sole proprietorship it also needs to set up some statements registering that Juanita is starting a business.
She also requires to obtain a consent or license from the local government regarding the business she is willing to start. There are many advantages Juanita would have when starting her own set up which may include being her own boss, retention on the company's entire profit and no special taxes to be paid.
Answer:
The correct answer is True.
Explanation:
In the context of the audit of financial statements, fraud consists of recording intentional errors in the financial statements. The two main fraud categories are: fraudulent financial reports and asset misappropriation.
Fraudulent financial reports are characterized by containing errors or intentional omissions in the amounts with the intention of deceiving users. Most cases of fraudulent financial reports overestimate assets and income or omit financial liabilities and expenses to show higher income.
Answer: Factory
Vehicles
Equipment
Explanation:· A fixed asset is a long-term tangible asset a company owns and uses in its production activity to earn an income.
The computer isn't a fixed asset to Andrew because he doesn't use it in his production process.
