Stop and Jot: Why was the decision about further funding for the telescope not an "economic

Pina Colada Corp. had 150 units in beginning inventory at a total cost of $16,500. The company purchased 300 units at a total co

ICE Princess25 [194]

Answer:

FIFO = $17,000

LIFO = $9,350

Average-cost = $14,450

Explanation:

Initial inventory: 150 units, at a total cost of $16,500 ($110 per unit).

Purchases: 300 units, at a total cost of $60,000 ($200 per unit).

Final inventory: 85 units.

Unit sold: 150+300-85=365 units

FIFO (first in, first out)

In this method, we considered that the units that were first in the inventory were sold first.

Initial inventory: 150 u. x $110 per unit = $16,500 $16,500

Variations: 300u. x $200 per unit = $60,000 $76,500

-150 u. x $110 per unit = -$16.500 $60,000

-215 u. x $200 per unit = -$43,000 $17,000

Final inventory 85 u. x $200 per unit = $17,000

LIFO (last in, first out)

In this method, we considered that the first units that leave the inventory are the last that have arrived.

Initial inventory: 150 u. x $110 per unit = $16,500 $16,500

Variations: 300u. x $200 per unit = $60,000 $76,500

-300 u. x $200 per unit = -$60,000 $16,500

-65 u. x $110 per unit = -$7,150 $ 9,350

Final inventory 85 u. x $110 per unit = $9,350

Average cost

In this method, every unit that left the inventory is valuated with an average-cost per unit of the inventory.

Initial inventory: 150 u. x $110 per unit = $16,500 $16,500

Variations: 300u. x $200 per unit = $60,000 $76,500

-365 u. x $170* per unit = -$62,050 $14,450

Final inventory 85 u. x $170 per unit = $14,450

*average cost = (150*110+300*200)/(150+300)=76500/450=$170

5 0

3 years ago

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If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 unit

Ksenya-84 [330]

Answer:

-0.33

Explanation:

The calculation of the price elasticity of demand using mid point formula is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)

where,

Change in quantity demanded is

= Q2 - Q1

= 80 units - 100 units

= -20 units

And, the average of quantity demanded would be

= (80 units + 100 units) ÷ 2

= 90 units

Change in price is

= P2 - P1

= $2 - $1

= 1

And, the average of the price is

= ($2 + $1) ÷ 2

= 1.5

So, after solving this, the price elasticity of demand is -0.33

7 0

4 years ago

The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures

hoa [83]

Answer:

The predicted value of Revenue is $98.24.

Explanation:

The data provided is for the weekly gross revenue, the amount of television advertising and the amount of newspaper advertising.

Determine the regression equation developed to estimate the amount of weekly gross revenue based on television advertising using Excel.

Consider the Excel image for Summary Output for Weekly Revenue Vs. T.V. Adv.

The estimated regression equation with the amount of television advertising as the independent variable is:

Revenue = 89.31 + 1.27 TVAdv

Consider the Excel image for Summary Output for Weekly Revenue Vs. T.V. Adv. & News Adv.

The estimated regression equation with both television advertising and newspaper advertising as the independent variables is:

Revenue = 83.78 + 1.78 TVAdv + 1.47 NewsAdv

For TVAdv = $4.9 and NewsAdv = $3.9 predict the value of Revenue as follows:

$\text{Revenue} = 83.78 + 1.78\ \text{TVAdv} + 1.47\ \text{NewsAdv}$

$=83.78 + (1.78 \times 4.9) + (1.47 \times 3.9)\\\\=98.235\\\\\approx 98.24$

Thus, the predicted value of Revenue is $98.24.

5 0

3 years ago

The three basic questions in Economics are all of these, except _____________________.

nata0808 [166]

The three basic questions in Economics are all of these,except When to produce

4 0

3 years ago

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60 points please help

Trava [24]

Answer:

Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption to meet the requirements of customers or corporations.

8 0

3 years ago