Answer:
$365.93
Explanation:
The computation of the checkbook balance is shown below:
= Balance of bank statement - first outstanding check amount - second outstanding check amount
= $414.25 - $26.54 - $21.78
= $365.93
In order to determine the check book balance, we deducted the two outstanding checks from the bank statement balance
Answer:
Following is the classification of the costs associated with each of these activities that is prevention cost, appraisal cost, internal failure cost, or external failure cost.
(a) Product testing - Appraisal Cost
(b) Product recall - External Failures
(c) Product design - Prevention cost
(d) Quality circle - Prevention cost
(e) Inspection of goods - Appraisal Cost
Explantion cost:
Appraisal costs are costs incurred to detect defects in the poduct produce. Prevention cost are cost incurred to prevent detects in the product produce.
Internal failure costs are costs incurred to remove defects found before the customer receives the product or service. External failure costs are costs incurred to remove defects found after the customer receives the product or service.
Answer:
The answer is = 12.5%
Explanation:
The 175 people that have jobs are in unemployment (employed).
The 25 people that are not working but are looking for jobs are called unemployed.
The 90 people are neither working nor looking for work for work are not counted in the employment.
Therefore, the labor force is employed people + unemployed people.
Labor force is 175 + 25= 200 people.
So, unemployment rate is:
(unemployed people ÷ labor force) x 100
(25÷200) x 100%
=12.5%
Answer:
a. FIFO - Inventory Used: $39900 Remaining Inventory: $14700
b. LIFO - Inventory Used: $41700 Remaining Inventory: $12900
c. Weighted Average Cost - Inventory Used: $40950 Remaining Inventory: $13650
Explanation:
Jan 01. Beginning inventory = 40 x $165 = $6600
Aug 13. Purchases 200 x $180 = $36000
Nov 30. Purchases 60 x $200 = $12000
Ending inventory = 75 units
Inventory Used = 300 – 75 = 225
(a) First-In-First-Out (FIFO)
This is the method where the inventory first received is the one that is used first. Common method when the inventory is perishable and would be wasted if left too long.
Inventory Used:
40 x $165 = $6600
185 x $180 = $33300
Total = $39900
Remaining Inventory:
15 x $180 = $2700
60 x $200 = $12000
Total = $14700
(b) Last-In-First-Out
Method whereby the inventory received latest is used first. Common in goods that are bulky. the inventory on top (latest purchased) is used first.
Inventory Used:
60 x $200 = $12000
165 x $180 = $29700
Total = $41700
Remaining Inventory:
40 x $165 = $6600
35 x $180 = $6300
Total = $12900
(c) Weighted Average Cost
This is whereby you divide the cost of goods sold by the number of units available for sale.
54,600 / 300 = $182
Inventory Used: 225 x $182 = $40950
Remaining inventory = 75 x $182 = $13650
Answer:
Recognized Sales Value = $18,000
Explanation:
Fragment company selling Price is $300/Unit
40% trade discount is offered for purchases of 50 units and more. That is, $300 x 40% = $120.
This implies anyone buying 50 or more will pay only $180/Unit ($300 - $120)
Customer Purchased 100 units
Sales terms is FOB, which implies Fragment is responsible for transportation costs of the products from his warehouse to the Port of Shipment including loading onto the ship. The Buyer will be responsible for Marine Freight expense, Insurance, Off-loading and shipment to his own warehouse
The $7 Per Unit indicated will account for inland transport to Port of shipment
Recognized Sales = 100 units x $180 = $18,000
Cost of Haulage (Carriage outwards) is $7 x 100 units = $700