Calculation of the ending inventory with the first-in-first-out (FIFO) method:
Number of units in the ending inventory = Units in the beginning inventory + Units Purchased – Units sold
Number of units in the ending inventory = 1200+(500+2000)-2150 = 1550 units
Under the FIFO method the ending inventory belongs to the latest purchases. Hence, 1550 units shall belong to the latest purchase @ $13.50 per unit.
Hence, Cost of ending inventory using FIFO method = 1550 units @$13.50 = <u>$20,925</u>
Answer:
D. structural unemployment.
Explanation:
D
Structural unemployment is caused by changes in the economy, such as shifts in manufacturing techniques, increased use of computers and electronic machines, and increases in the production of services instead of goods.
Structural unemployment is caused by technological change.
Cyclical unemployment is caused by business cycles. In down turns, unemployment rises and falls during a boom.
Frictional unemployment is the period between when Labour leaves his job and gets another one.
Answer:
Total overhead= $21,400
Explanation:
Giving the following information:
Variable manufacturing overhead per unit= $1.60
Fixed manufacturing overhead= $3.00*5,000= $15,000
4,000 units are produced
<u>Because the production level is between the relevant range, the total fixed costs remain constant.</u>
Total overhead= 1.6*4,000 + 15,000
Total overhead= $21,400
Private goods owned by companies are stored in private warehouses.
Explanation:
These private warehouses are owned and are managed by the channel suppliers.
This means they are owned by the traders, manufacturers or re sellers of a product and they have an exclusive use to themselves.
They cannot be used for anything other than the activities of distribution of that firm only and nothing else as it is their private property to store their products in there.
This means that they cannot use other warehouses for these products either.
Answer:
Explanation: current assets are assets other than fixed asset that a company uses in its day to day operations and are noted in the Balanced sheet of an organisation and they include:
Cash, Account receivable, Inventory, Supplies.
From the above question, the current asset of Buffalo Industries is stated below:
Balanced Sheet (extract)
Current assets :
Cash $97,340
Merchandise inventory $167,950
Supplies. $12,560
Total current asset. $277,850