The situation where one person's demand for a good depends on the consumption of the good by others is called a

Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:

nignag [31]

Aug. 1 Inventory On Hand—2,000 Units; Cost $5.70 Each.

Second sales assumed to be 7,000 units at a price of $11.40 each.

Answer:

Altira Corporation

August 2021 Ending Inventory & Cost of Goods Sold:

1. Ending Inventory = 9,000 units at $5.88 per unit = $52,920

2. Cost of goods sold =

9,600 x $5.87 = $56,352

7,000 x $5.95 = $41,650

16,600 units = $98,002

Explanation:

a) Calculations:

Units Unit Cost Total Cost

Beginning Inventory 2,000 $5.70 $11,400

Purchases 12,000 $5.90 $70,800

Weighted average cost = ($11,400 + $70,800) / 14,000 = $5.87

Sales (9,600) $12.00 $115,200

Units remaining 4,400 $5.87 $25,828

Purchases 7,200 $6.00 $43,200

Weighted average cost = ($25,828 + $43,200) / 11,600 = $5.95

Sales (7,000) $11.40 $79,800

Units remaining 4,600 $5.95 $27,370

Purchases 4,400 $5.80 $25,520

Weighted average cost = ($27,370 + $25,520) / 9,000 = $5.88

Ending Inventory 9,000 $5.88 $52,920

b) The 'Average Cost Method' or the Weighted Average Cost Method assumes that the cost of inventory is based on the average cost of the goods available for sale during the period. To compute the average cost, divide the total cost of goods available for sale by the total units available for sale.

6 0

3 years ago

During its first month of business, Kochanski Company reported net cash flows from operating activities of $5,000, net cash flow

sineoko [7]

Answer:

Net cash increase is $45000.

Explanation:

Net cash flow from (OA) operating activity = $5000

Net cash flow from (I) investing = $10000

Net cash flow from (F) financing activity = $50000

Net cash increase = Operating activity cash flow + Financing activity cash flow - Net cash flow from investing

Net cash increase = 5000 + 50000 – 10000

Net cash increase = 45000

3 0

3 years ago

What is the difference between federal and private loans.

MArishka [77]

Answer:

federal loans are provided by the government and private loans are provided by banks, credit unions, and other financial institutions.

Explanation:

3 0

2 years ago

__________ is a growing tool for managers to enhance communication and collaboration in support of empowered or bossless work en

Dafna11 [192]

Answer:

The correct approach will be "Social media ".

Explanation:

Social media become web-based communication platforms that always allow the individual to communicate with one another through intelligence sharing as well as consumption.
It is an internet-connected communication method whereby the participants build virtual forums to exchange knowledge, ideas, private correspondence, and certain other functionality.

3 0

3 years ago

11. Brooke Company desires net income of $720,000 when it has $2,000,000 of fixed costs and variable costs of 60% of sales. Cont

Mila [183]

Answer:

b. $2,720,000

Explanation:

The contribution margin is what is left after subtracting the variable cost from the sales.

From there, the company pays their fixed cost and the rest is net income.

In this case you have a company desiring to get 720,000 net income after paying their 2,000,000 fixed cost

So we come up with with formula:

$Contribution Margin - Fixed Cost = Net Income$

Replacing the know values, we get the unknow value. Like it was a solve for X question:

$X - 2,000,000 = 720,000\\X = 2,000,000 + 720,000\\X = 2,720,000$

8 0

3 years ago