1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
givi [52]
3 years ago
15

Consider the following information for Maynor Company, which uses a periodic inventory system:

Business
1 answer:
ohaa [14]3 years ago
8 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

January 1 Beginning Inventory 29 $79 $2,291

March 28 Purchase 39 $85 3,315

August 22 Purchase 58 $89 5,162

October 14 Purchase 63 $95 5,985

The company sold 63 units on May 1 and 58 units on October 28.

<u>First, we need to calculate the units in ending inventory:</u>

Ending inventory in units= 189 - 121= 68

<u>To calculate the ending inventory under the FIFO (first-in, first-out) method, we need to use the cost of the last units incorporated into inventory.</u>

Ending inventory= 63*95 + 5*89= $6,430

COGS= 29*79 + 39*85 + 53*89= $10,323

<u>To calculate the ending inventory under the LIFO (last-in, first-out) method, we need to use the cost of the first units incorporated into the inventory</u>

<u></u>

Ending inventory= 29*79 + 39*85= $5,606

COGS= 63*95 + 58*89= $11,147

<u>Finally, to calculate the ending inventory using the weighted-average, we need to calculate the weighted average price:</u>

<u></u>

weighted average price= 16,753/189= $88.64

Ending inventory= 68*88.64= $6,027.52

COGS= 121*88.64= $10,725.44

You might be interested in
Yolanda's Coffee Shop makes a blend that is a mixture of two types of coffee. Type A coffee costs Yolanda $4.25 per pound, and t
vovangra [49]

Answer:

she used type A coffee is 62 pounds

Explanation:

given data

Type A coffee costs = $4.25 per pound

type B coffee costs = $5.60 per pound

this month Yolanda made = 155 pounds

this month total cost = $784.30

to find out

How many pounds of type A coffee did she use

solution

we consider here that this month type A coffee used = x

and type B coffee used = y

so equation will be

x + y = 155       ..................1

and cost equation

4.25 x + 5.60 y = 784.30       ...............2

now from equation 1 we get y

y = 155 - x     .........................3

put this value in equation 2

4.25 x + 5.60 y = 784.3

4.25 x + 5.60 ( 155 - x) = 784.3

solve this equation we get

x = 62

so she used type A coffee is 62 pounds

3 0
3 years ago
The first known application of marketing research to a business marketing/advertising problem was conducted by:
ehidna [41]

Answer:

An advertising agency.

Explanation:

  • N. W. Ayer & Son was a Philadelphia advertising agency that was formed in 1869 and was the first advertising agency that created various notable slogans and founded by the Francis W.A, and they worked in groups knows as the creative teams.
7 0
3 years ago
Agri-Cor sells farm equipment throughout the euro zone. The company has noticed that some customers travel to countries where eq
sergejj [24]

Answer:

These statements are correct:

  • It makes it easier to compare prices across Europe - the Euro is the common curriency across 19 countries, but prices in those countries are far from being the same. For example, Germany is a lot more expensive than Greece (although a lot wealthier too), and Greek people can easily find out that the same product in Germany costs more euros than in Greece.
  • It makes Europe an optimal currency area - in the Eurozone, economic efficiency is now higher because resources can be allocated across different countries thanks to the fact that prices can be compared in the region.

3 0
2 years ago
A company has budgeted direct materials purchases of $300,000 in July and $480,000 in August. Past experience indicates that the
enyata [817]

Answer: $696,000

Explanation:

Given the following;

JULY direct material purchase = $300,000

AUGUST BUDGET

direct material purchase =$480,000

Selling and administrative expenses = $48,000

Depreciation expense = $36,000

Purchase of office equipment = $72,000

Wages expenses = $150,000

Only 70% of the amount of purchases made in a month being paid that month. The remaining 30% paid the next month

Therefore, total Budgeted cash disbursement for the month of August will include ;

30% of July purchase

0.3 × $300,000 = $90,000

70% of August direct material

0.7 × $480,000 = $336,000

Wage expense = $150,000

Office equipment purchase =$72, 000

Selling and administration expenses = $48,000

= $(90,000 + 336,000+ 150,000+72,000+ 48,000) = $696,000.

3 0
3 years ago
Beliefs about what is ethical serve as a moral compass to guide behaviors of individuals
zmey [24]
True. ..................
6 0
2 years ago
Other questions:
  • Trevor is watching a late night TV show when a low-budget commercial for a local restaurant comes on air. He is affronted by the
    14·1 answer
  • A consumer values a car at $525,000 and a producer values the same car at $485,000. If the transaction is completed at $510,000,
    5·1 answer
  • Carrie recently received the Employee of the Year award at the call center where she works as a customer service representative.
    9·1 answer
  • p. 82) Which of the following is NOT a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? A. Organizatio
    11·1 answer
  • When maggie joined techno-nerds, inc., she automatically joined an employee team. team members each had base salaries, but they
    5·1 answer
  • Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk. The savings on these bu
    9·1 answer
  • Vanessa is the purchasing manager at General Things, a maker of housewares. She has evaluated the first year's performance of Hu
    13·1 answer
  • Spotlight on India and Mexico Question Number 1) India’s rapidly expanding service sector of educated workers represents more th
    9·1 answer
  • the cost of sunflower seeds has increased. sunflower seeds are an input when sunflowers are produced. explain how this change wi
    9·1 answer
  • 9. If the Federal wants to decrease the target rate range for the federal funds rate then it will set the IROB _________________
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!