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3 years ago

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.

First, we need to calculate the units in ending inventory:

Ending inventory in units= 189 - 121= 68

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.

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

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

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

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

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

Finally, to calculate the ending inventory using the weighted-average, we need to calculate the weighted average price:

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

Ending inventory= 68*88.64= $6,027.52

COGS= 121*88.64= $10,725.44

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Mutual funds allow the common investor without much initial capital to be able to a strategy not easily employable among stocks

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Answer:

diversify

Explanation:

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3 years ago

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this in

viva [34]

Answer:

Macro environment

Explanation:

The macro environment refers to external factors of the organization that can affect its performance and results. For a company it is important to study this factors to know the environment in which it is going to work and be able to develop strategies and goals that adjust to this.

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3 years ago

If the demand and supply curves for product X are stable, a goverment mandated increase in the price of X will:_______

shepuryov [24]

Answer: C. . increase the quantity supplied of X and decrease the quantity demanded of X.

Explanation:

If the demand and supply curves for product X are stable, a goverment mandated increase in the price of X will result into the increase the quantity supplied of X and decrease the quantity demanded of X.

This is because when there is a rise in price, the suppliers will be willing to supply more while the consumers will demand less of the product.

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3 years ago

Astro Co. sold 20,000 units of its only product and incurred a $50,000 loss (ignoring taxes) for the current year as shown here.

Alexandra [31]

Answer:

Required 1.

Break even point (dollar sales) = $750,000

Required 2.

Break even point (dollar sales) = $1,250,000

Required 3.

ASTRO COMPANY

Forecasted Contribution Margin Income Statement

For Year Ended December 31, 2016

Sales $ 1,000,000

Variable costs ($ 400,000 )

Contribution margin $ 600,000

Fixed costs ($ 450,000 )

Net loss $ 150,000

Required 4.

Sales to meet target profit (dollar sales) = $1,833,333

Sales to meet target profit (unit sales) = 73,334

Explanation:

Break even point is the level of activity where a Company neither makes a profit nor a loss.

Break even point (dollar sales) = Fixed Cost / Contribution Margin Ratio

Where,

Contribution Margin Ratio = Contribution / Sales

= $ 200,000 / $ 1,000,000

= 0.20

Therefore,

Break even point (dollar sales) = $250,000 / 0.20

= $1,250,000

Assuming the machine is installed

Contribution Margin Ratio = ($ 1,000,000 - $400,000) / $ 1,000,000

= $600,000 / $1,000,000

= 0.60

Therefore,

Break even point (dollar sales) = ($250,000 + $200,000) / 0.60

= $750,000

Sales to meet target profit of $200,000

Sales to meet target profit (dollar sales) = Fixed Cost + Target Profit / Contribution Margin Ratio

= ($450,000 + $200,000) / 0.60

= $1,833,333

Sales to meet target profit (unit sales) = $1,833,333 / $25

= 73,334

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3 years ago

The company enters a lease agreement requiring lease payments with a present value of $14 million. will this lease agreement aff

wariber [46]

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2 years ago