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fiasKO [112]
2 years ago
7

Sheridan Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is avai

lable. Units Unit Cost Total Cost April 1 inventory 280 $17 $ 4,760 April 15 purchase 420 20 8,400 April 23 purchase 300 22 6,600 1,000 $19,760 Compute the April 30 inventory and the April cost of goods sold using the LIFO method.
Business
1 answer:
vesna_86 [32]2 years ago
8 0

Answer:

Closing inventory - $10,160

Costs of goods sold - $9,600

Explanation:

Under the LIFO Method, the cost of good sold equals to

= April 23 units × cost per unit + Remaining units × cost per unit

= 300 units × $22 + 150 units × $20

= $6,600 + $3,000

= $9,600

Since the firm has sold 450 units, so out of which 300 units sold at a price of $22 and the remaining 150 units sold at a price of $20

The ending inventory equals to

= Remaining units × cost per unit + April 1 × cost per unit

= 270 units × $20 + 280 units × $17

= $5,400 + $4,760

= $10,160

Since on April 23, the 420 units were purchase, out of which 150 units are transferred to the cost of good sold and the remaining units 270 units at $20 is transferred to the ending inventory

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The Nautical Corporation manufactures custom-made wood wall units. The following data pertains to Job X4A: Direct materials plac
Leokris [45]

Answer:

Total Cost of Job X4A:                                             $

Direct material cost  ($9,000 x 500 units)              4,500,000                              

Direct labour cost (300 hrs x $15 x 500 units )       2,250,000

Overhead applied (100 hrs x $22.50 x 500 units)  1,125,000

Total cost                                                                    7,875,000

Explanation:

The total cost of Job X4A is the aggregate of direct material cost, direct labour cost and overhead applied. Overhead is absorbed on the basis of machine hours. Thus, we will multiply the overhead rate by machine hours and number of units produced.          

7 0
3 years ago
Which pattern of consumption is recommended to reduce humanity's global footprint? Buying goods from firms that always seek to m
tino4ka555 [31]

Answer:

The correct answer is letter "B": Choosing less harmful products.

Explanation:

Everyday companies are growing consciousness on the type of products the human being uses to satisfy basic needs or simply perform routine duties. Though, many of those the items used can cause harm to the environment. <em>Mothballs, oven cleaners, furniture polish and stain, and toilet bowl cleaners</em> are examples of those items that can put individuals and eventually societies at risk.  

<em>By choosing less harmful products like the mentioned above and choosing alternative solutions to cover common activities, humanity's global footprint will be reduced.</em>

5 0
3 years ago
Between 2010 and 2020.
Arte-miy333 [17]

Answer:

decrease

Explanation:

i think so because less and less people are deciding to travel because of the deadly virus. People are preferring to stay at their homes. As less people will travel, many travel agents will lose their jobs.

7 0
3 years ago
Judd Corporation has a weighted average cost of capital of 10.25%, and its value of operations is $57.50 million. Free cash flow
earnstyle [38]

Answer:

The expected year-end free cash flow is $2.44 million

Explanation:

The formula to compute free cash flow is shown below:

Value of operations = (free cash flow) ÷ (weighted average cost of capital - growth rate)

$57.50 million = free cash flow ÷ (10.25% - 6.00%)

$57.50 million = free cash flow ÷ 4.25%

So, free cash flow equal to

=  $2.44 million

The growth rate should always be deducted from the weighted average cost of capital in computing the year ending free cash flow.

6 0
3 years ago
Flint corporation reported net income of 391320 in 2017 and had 206000 shares of common stock outstanding throughout the year. A
irakobra [83]

Answer:

$1.23

Explanation:

The computation of the diluted earnings per share is shown below:

Diluted earning per share = Net income ÷ weighted number of common stock outstanding

where,

Net income is $391,320          

Weighted average number of outstanding shares equal to

= 206,000 shares  + 114,000 shares

= 320,000 shares

The 114,000 shares is

= 570,000 ÷ $15 × $12

= 456,000

Now 570,000 - 456,000 = 114,000 shares

So, the diluted earning per share

= $391,230 ÷ 320,000 shares

= $1.23

8 0
2 years ago
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