Answer:1. $7720
2. $7945
3. $7758
Explanation: 1. First in First out method which means the first inventory to be purchased by company will be the first to be sold.
Total cost of Sales = Total number of units Sold * Total Cost of inventory sold
= 100units*$5+ 300units*$5.30+ 200units*$5.35 + 450units*$5.60
=$7720
Total units sold=1450 we started from first inventory which was the balance of inventory of 100 units downwards up to the 1450th unit sold that was purchased on the 26th of April by the company.
2. Last in first out method is where the last bought inventory is sold first.
Total cost of sales= Total number of units sold * Total cost of units sold =200units$*5.80+ 600units*$5.60+ 200units*$5.35+300units*$5.30+150units*$5.1
=$7945
Total units sold still 1450 but we calculated the cost from the last purchased unit from 30th April to the 1450th unit sold which was on the 12th of April.
3. Average Cost = (Sum of all costs/Total number of costs)* total units sold
= (($5+$5.1+$5.3+$5.35+$5.6+$5.8)/6)* 1450
=$7769.58
Characteristics of a project team are team meetings happen virtually or face to face.
<h3>Project team: What does that mean?</h3>
A project team or team is described as "an interdependent collection of individuals who work together towards a similar goal and who share responsibility for specific results of their organizations" in a project.
The five jobs that make up a project team—project manager, project team member, project sponsor, executive sponsor, and business analyst—are explained here, along with an explanation of each one's duties. Depending on the situation, a small business might have just one staff that works on many tasks. The group, for instance, might be working on a new product the following day after spending the previous day at a trade fair gathering sales leads.
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Answer:
The Journal entries are as follows:
(i) On December 31,
No entry
(ii) On December 31,
Amortization expense A/c Dr. $16,000
To Patents A/c $16,000
(To record the amortization expenses)
Workings:
Amortization expense:
= (Purchasing cost of patent ÷ Estimated useful life) × Time period
= ($144,000 ÷ 6) × (8/12)
= $24,000 × (8/12)
= $16,000
Answer:
Explanation:
$50; $65
7h:10h
Elasticity of labor supply:
(10-7)/(65-50) * (50+65)/(7+10) = 3/15 * 115/17 =1.35
So elasticity of labor supply is 1.35, elastic
Answer:
The correct answer is A
Explanation:
Adam Smith is one of the first theorist who refer to the system of capitalism. Under this system, he asserts that when the person or an individual conduct or make a trade, they value what they bought more than they value what are exchanging for the commodity.
So, under this system, he believed that the fair as well as correct prices of the commodity or the goods will be determined through the competition among the businesses.
