All categories

3 years ago

Nash's Trading Post, LLC has the following inventory data:

Business

1 answer:

solmaris [256]3 years ago

3 0

Answer:

Ending Inventory for July: $551

Explanation:

Units on hand at the end of the period: 36

Purchases of remaining units:

11 units at $16 = $176
25 units (36 - 11) at $15 = $375

Amount allocated to ending inventory for July: $551

The first in, first out (FIFO) method of inventory valuation is a cost flow assumption that the first goods purchased are also the first goods sold.

You might be interested in

Which nutrients are the most difficult to consume in sufficient amounts by healthy pregnant women who eat well-balanced diets?

DIA [1.3K]

Iron nutrients are the most difficult to consume in sufficient amounts by healthy pregnant women who eat well-balanced diets.

Nutrients are substances that organisms use to survive, grow and reproduce. Dietary intake requirements for nutrients apply to animals, plants, fungi, and protists. Nutrients are taken up by cells for metabolic purposes or secreted from cells to produce non-cellular structures such as hairs, scales, feathers, and exoskeletons.

Some nutrients such as carbohydrates, lipids, proteins, and fermentation products (ethanol or vinegar) are metabolically converted into smaller molecules in the process of energy release, resulting in water and carbon dioxide as end products. Living things need water.

The essential nutrients for animals are a source of energy and some amino acids that combine to form proteins, a subset of fatty acids, vitamins, and certain minerals. Requires carbon dioxide and oxygen to be absorbed from Fungi living on dead or living organic matter to meet their host's nutritional needs.

Learn more about Nutrients here : brainly.com/question/8070307

#SPJ4

8 0

2 years ago

Premium on Bonds Payable_________.

Tatiana [17]

Answer:

c. is considered to be a reduction in the cost of borrowing.

Explanation:

The premium on bond payable arise when the bond payable is issued more than the face value. It is a liability account consist of the credit balance that is presented on the liability side of the balance sheet

Moreover, it is deducted in the borrowing cost and amortized as an interest expense to the bonds life. It is added to the bond payable

Hence, the correct answer is c.

3 0

3 years ago

Chancellor Ltd. sells an asset with a $2.4 million fair value to Sophie Inc. Sophie agrees to make seven equal payments, each to

sattari [20]

Answer:

The Annual payment to be made is $445,327

Explanation:

The computation of the annual payment is shown below;

As we know that

The Present value of assets = Annual payment to be made × Present value annuity factor (i%,n)

$2,400,000 = Annual payment to be made × Present value annuity factor (7%,7)

$2,400,000 = Annual payment to be made × 5.3893

So,

The Annual payment to be made is $445,327

4 0

3 years ago

Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms,

kotykmax [81]

Answer:

Cost of Goods Manufactured 356,700

Net Profit before Income Tax= 566,350

Explanation:

Waterways Corporation

Cost of Goods Manufactured Schedule

Raw materials Inventory - October 31 41,000

Add Raw Materials Purchases 186,500

Less Raw Materials Inventory - November 30 53,000

Raw Materials Used = 174,500

Direct labor 44,000

Factory Overhead: 145,200

Indirect labor 45,000

Factory Utilities 10,500

Factory Supplies Used 16,300

Depreciation-Factory Equipment 17,500

Property Tax on Factory 5,500

Rent - Factory Equipment 45,000

Repairs - Factory Equipment 5,400

Total Manufacturing Costs 363,700

Add Work in Process Inventory - November 30 44,000

Cost of Goods Available for Manufacture 407,700

Less Work in Process Inventory - October 31 51,000

Cost of Goods Manufactured 356,700

Waterways Corporation

Cost of Goods Sold Schedule

Cost of Goods Manufactured 356,700

Add Finished Goods Inventory - November 30 71,800

Cost of Goods Available for Sale 428,500

Less Finished Goods Inventory - October 31 73,500

Cost Of Goods Sold 355,000

Waterways Corporation

Income Statement for the month of November

Sales 1,425,000

Less Cost of Goods Sold 355,000

Gross Profit 1070,000

Less Operating expenses : 503650

Office Supplies Expenses 71,000

Advertising Expense 52,000

Salaries 335,000

Depreciation-Office Equipment 2,900

Sales Commissions 42,750

Net Profit before Income Tax= 566350

( here the salaries are treated as office salaries not factory salaries)

Waterways Corporation

Balance Sheet for the month of November

Assets

Cash 255,000

Accounts Receivable $290,000

Prepaid Expenses 42,500

3 0

3 years ago

The price at which a perfectly competitive firm sells its product is determined by_____________.

4vir4ik [10]

Answer:

Explanation:

to start a business you have to see what's on demand

7 0

3 years ago