1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
BlackZzzverrR [31]
4 years ago
14

Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1

Beginning Inventory 220 $ 144 6/5 Purchase 420 $ 164 11/10 Purchase 120 $ 204 During the year, Maxim sold 440 units. What is ending inventory using the average cost method? (Do
Business
1 answer:
Ira Lisetskai [31]4 years ago
5 0

Answer:

52,650 approx

Explanation:

The calculation of ending inventory using average cost method is shown below:-

Total Units = 220 + 420 + 120

= 760

Total cost = (220 × $144) + (420 × $164) + (120 × $204)

= $31,680 + $68,880 + $24,480

= $125,040

Average cost per unit = $125,040 ÷ 760

= 164.53

Ending inventory = Total units - units sold

= 760 - 440

= 320

Cost of ending inventory = Ending inventory ×Average cost per unit

= 320 × 164.53

= 52,650 approx

You might be interested in
Purchases Journal The following purchase transactions occurred during March for Rehoboth, Inc.:
gtnhenbr [62]

Answer:

See the explanation section.

Explanation:

Mar. 4    Cleaning supplies debit = $77

Accounts payable - Health-Rite Supplies credit = $77

<em>To record the purchase of supplies.</em>

Mar. 19   Office equipment Debit = $3,750

Accounts payable - office Warehouse Credit = $3,750

<em>To record the purchase of office equipment on account.</em>

Mar. 23   Cleaning supplies Debit = $224

Accounts payable - Rubble Supplies Credit = $224

<em>To record the purchase of supplies.</em>

3 0
3 years ago
What elements must be present for fire to exist?
liraira [26]

Answer:

Matches, and log wood I'm guessing

7 0
3 years ago
Read 2 more answers
In an automobile company, the vice president of research and development wants to plan and coordinate the launch of a new car wi
nikdorinn [45]

Answer

Hi,

This type of communication could be interpersonal communication or formal communication

Explanation

Interpersonal communication occurs in company when it is done between two or more individuals at a workplace. For this case, the communication was between the vice president of research and development and the vice president of marketing. This could also be a formal communication where a hierarchy at the workplace is followed because the two vice presidents from different departments first talked before involving junior staff members. In this case, the two vice presidents are communicating formally with each other to get work done.

Welcome!

4 0
3 years ago
Flagstaff Company has budgeted production units of 8,000 for July and 8,200 for August. The direct materials requirement per uni
Nezavi [6.7K]

Answer:B) $28,980.

Explanation:

Beginning inventory is 6,000 ounces

Closing inventory  = 8,200 × 3 ounces × 25%   = 6,150ounces

 Budgeted production  = 8,000 × 3 ounces=24,000

Direct material to be purchased  = Closing inventory + Budgeted production - Beginning inventory= 29,400 ounces

Direct material to be purchased  = 6,150ounces +24,000-  6,000 ounces

= 24,150 ounces

Now,For $1.20 per pounce, it would be

= 24,150 ounces × $1.20

= $28,980.

4 0
3 years ago
Economic analysis indicates minimum wage legislation has a. made it possible for any teenager who wants to work to earn almost 8
ivann1987 [24]

Answer:

d. is correct

Explanation:

made it easier for teenagers to find jobs that offer the opportunity for training.

Everyone starts a career , step by step, from the minimum salary to the top of income.

5 0
3 years ago
Other questions:
  • Silver​ Crafts, Inc. purchases and sells bracelets. The following information summarizes the​ company's operating activities for
    13·1 answer
  • Effective notes do NOT __________.
    11·1 answer
  • TRUE OR FALSE: The 4 P’s are the exact same as the six functions of marketing.
    13·1 answer
  • Hewlett and Martin are partners. Hewlett's capital balance in the partnership is $64,000, and Martin's capital balance $61,000.
    14·1 answer
  • The government tax for a sole proprietorships and a partnership is classified under
    10·2 answers
  • We use the accounting equation to identify what a company owns and owes. _____ are resources a company owns or controls, _____ a
    5·1 answer
  • Michael operates his health food store as a sole proprietorship out of a building he owns. Based on the following information re
    8·1 answer
  • A company that produces detergents wants to estimate the mean amount of detergent in 64-ounce jugs at a 99% confidence level. Th
    5·1 answer
  • What is the IRR of the following set of cash flows? (Do not round intermediate calculations. Enter your answer as a percent roun
    10·1 answer
  • Many developed countries have deindustrialized and are transitioning to a postindustrial economy. A. Identify and describe the e
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!