Answer:
Cost of merchandise sold = $483 , Closing stock = $227
Explanation:
Perpetual inventory system includes updates done, when sale or purchase transaction happens
Opening Stock = 26 units (price 15). Value = 26 x 15 = 390
Sale = 13 units, price 15. So, sales cost value = 13 x 15 = 195
Purchase = 20 units (price 16). Value = 20 x 16 = 320
Sale = 18 units, price 16. So, sales cost value = 18 x 16 = 288
Total sales cost value, or cost of merchandise sold = 195 + 288 = 483
Closing stock = Opening stock + purchase - sales cost
= 390 + 320 - 483
= $227
First and last I just took the test
Answer:
The correct answer is "management information systems"
Explanation:
The management information system (MIS) is a system of financial information, such as accounting and human resources, that provides valuable information in order to take business decisions and solve the problems of the company. The management information system generates normal reports on operations for every level of management.
Answer:
The total cost of the department’s ending work in process inventory is $684,000
Explanation:
The computation of the total cost is shown below:
= Material cost + conversion cost
where,
Material cost = (Transferred units + ending work in progress) × material cost per unit
= (68,000 units + 12,000 units) × $4
= $320,000
Conversion cost = (Transferred units + ending work in progress × percentage of completion) × material cost per unit
= (68,000 units + 12,000 units × 40%) × $5
= $364,000
Now put these values to the above formula
So, the value would equal to
= $32,000 + $364,000
= $684,000
