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timurjin [86]
2 years ago
7

The __________ method provides an alternative approach for allocating factory overhead that uses multiple factory overhead rates

based on different activities. single plantwide rate
Business
1 answer:
Karo-lina-s [1.5K]2 years ago
4 0

The plantwide allocation is a method, which involves the alternatives to the approach for the allocation of factory overheads, and also uses factory overheads based on different activities.

<h3>What is plantwide allocation?</h3>

The plantwide allocation rate is a method that uses an approach to compile all the required overhead costs of a business, and thus also involves application of one rate for one activity in an organization.

Hence, the significance of plantwide allocation is as aforementioned.

Learn more about plantwide allocation here:

brainly.com/question/15090267

#SPJ1

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Devin wants to purchase DEF stock for a specified price of $40.00 or less, and he understands this request will be executed afte
Lemur [1.5K]

Answer:

He should use a limit order.

Explanation:

Limit order is given to a broker to buy a stock at a specified price or a price that is better that the specified price. Here Debin order will be executed at a price $40 or below when he places a limit order .

Therefore, He should use a limit order.

3 0
3 years ago
Which of the following would be most likely to increase your opportunity cost of attending college? a recession in the economy t
kipiarov [429]

Answer:

To start a job today that would permit you to earn about 50 percent more than you expected to make after graduation.

Explanation:

Opportunity cost is the cost of best next option foregone for choosing the current option. Here, the best opportunity foregone is of earning and starting the job today which will allow to earn 50 % more than what can be earned after completing the graduation, as already for graduation fees will be paid, along with further expenses. In that case if dropping graduation and starting a job was this beneficial then it would have been better.

Therefore the following has increased the opportunity cost of pursuing graduation.

to start a job today that would permit you to earn about 50 percent more than you expected to make after graduation

4 0
3 years ago
g The Ricardian equivalence states that if the government cuts taxes without changing current or future expenditure then: a) hou
Aleks [24]

Answer:

b) households will save more because they will expect higher taxes in the future

Explanation:

The Ricardian Equivalence proposition is one of the pillars of classical economics, which sadly has proven to not work very well in the real world. According to classical economists, and their quantity theory of money plus the Ricardian Equivalence, recessions do not exist because it is impossible for them to exist. But in the real world, that is not true. Recessions exist, e.g. the US is in a recession since the first quarter of 2020 (even before the current health crisis). When real people lose their jobs or are afraid to lose their jobs, their spending habits change.

On the other hand, when real people get a tax refund or tax cut, they generally spend it, they will not save it to pay future taxes. That is why car sales increase during February after checks form the IRS are handed out.

Theoretically, classical economics is great. The problem is that we are human beings, and as such, our behavior cannot be controlled or determined by what we should or should not do. This is exactly why the velocity of money (quantitative theory of money) is not constant.

4 0
3 years ago
5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal pl
Zigmanuir [339]

Complete Question:

The Company has the following transactions related to its top-selling Mongoose mountain bike for the month of March. The Company uses a periodic inventory system.

Date Transactions Units Unit Cost Total Cost

March 1 Beginning inventory 20 $230 $4,600

March 5 Sale ($360 each) 15

March 9 Purchase 10 250 2,500

March 17 Sale ($410 each) 8

March 22 Purchase 10 260 2,600

March 27 Sale ($435 each) 12

March 30 Purchase 8 280 2,240

For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.

Required:

a. Calculate ending inventory and cost of goods sold at March 31, 2015, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes

from beginning inventory and eight bikes from the March 22 purchase.

b. Using FIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

c. Using LIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

d. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015.(Round your intermediate and final answers to 2 decimal places.)

e. Calculate sales revenue and gross profit under each of the four methods.

Answer:

The Company

Ending Inventory:

a. Specific Identification:

Beginning inventory 1 * $230 = $230

March 9 purchase  2 *  $250 =  500

March 22 purchase 2 * $260 = 520

March 30   Purchase 8 * $280 =2,240

Total value of inventory 13 units = $3,490

Cost of goods sold = Cost of goods available for sale Minus Ending Inventory

= $11,940 - $3,490

= $8,450

b. FIFO:

March 22   Purchase     5   260     1,300

March 30   Purchase     8   280    2,240

Ending Inventory          13           $3,540

Cost of goods sold = Goods available for sale Minus Ending Inventory

= $11,940 - $3,540

= $8,400

c. LIFO:

Ending Inventory:

March 1  Inventory     13    $230         $2,990

Cost of goods sold = Goods available for sale Minus Ending Inventory

= $11,940 - $2,990

= $8,950

d) Weighted -Average Cost:

Ending Inventory = $248.75 * 13 = $3,233.75

Cost of Goods Sold = $248.75 * 35 = $8,706.25

                                     Specific          FIFO         LIFO         Weighted

                               Identification                                           Average

Sales                           $13,900       $13,900      $13,900       $13,900.00

Cost of goods sold        8,450           8,400         8,950         $8,706.25

Gross profit                 $5,450         $5,500      $4,950          $5,193.75

Explanation:

Dat and Calculations:

Shop uses periodic inventory system

Date           Transactions               Units      Unit Cost    Total Cost   Total

March 1      Beginning inventory     20          $230         $4,600       Sales

March 5     Sale ($360 each)                   15   $360                          $5,400

March 9     Purchase                       10            250           2,500

March 17    Sale ($410 each)                   8     $410                           $3,280

March 22   Purchase                      10            260           2,600

March 27   Sale ($435 each)                12     $435                         $5,220

March 30   Purchase                      8             280           2,240

Total Goods available for sale     48   35                     $11,940   $13,900

Ending Inventory = 13 (48 - 35)

Weighted average cost = Cost of goods available for sale/Units of Goods available for sale

= $11,940/48 = $248.75

Specific Identification:

March 5 sale 15 consists of bikes from 15 beginning inventory Bal 5 - 4 = 1

March 17 sale 8 consists of bikes from the March 9 purchase  Bal  = 2

March 27 sale 12 consists of four bikes from beginning inventory and eight bikes from the March 22 purchase Bal  = 2

Ending Inventory:

Specific Identification:

Beginning inventory 1 * $230 = $230

March 9 purchase  2 *  $250 =  500

March 22 purchase 2 * $260 = 520

March 30   Purchase 8 * $280 =2,240

Total value of inventory 13 units = $3,490

FIFO:

March 22   Purchase     5   260     1,300

March 30   Purchase     8   280    2,240

Ending Inventory          13           $3,540

LIFO:

March 1      Beginning inventory     13    $230         $2,990

Weighted-Average Costs:

Ending Inventory = $248.75 * 13 = $3,233.75

Cost of Goods Sold = $248.75 * 35 = $8,706.25

5 0
3 years ago
Unimart Precision Manufacturing
Anarel [89]

Answer:

Results are below.

Explanation:

Giving the following information:

Company 1:

Beginning inventory Merchandise $253,000

Cost of purchases 600,000

Ending inventory Merchandise 153,000

Company 2:

Beginning Finished goods $506,000

Cost of goods manufactured 930,000

Ending Finished goods 147,000

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

<u></u>

COGS= beginning finished inventory + cost of goods manufactured/purchased - ending finished inventory

<u>Company 1:</u>

COGS= 253,000 + 600,000 - 153,000

COGS= $700,000

<u>Company 2:</u>

COGS= 506,000 + 930,000 - 147,000

COGS= $1,289,000

7 0
3 years ago
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