Answer:
Cost of Goods Sold on the income statement for the year ending December 31, 2019 is $ 24,010
Explanation:
First in First Out is an Inventory management system that is build on the idea of selling first the Inventory that came earlier or acquired first.
Perpetual Inventory System Records cost of sale of inventory with each sale
Sale of Inventory was made on March 10,2019 and October 30,2019. It is important to keep track of the cost of sale of inventory on these dates and then find the total which will be presented as cost of sales in the financial Statement
<u>Cost of Goods Sold</u>
March 10,2019 : 80 units × $82 6,560
October 30,2019 : 45 units × $ 82 3,690
160 units × $ 86 13,760
Total Cost of Goods Sold 24,010
Answer:comparing to exemplars
Explanation:marketers may employ exemplars of a product category rather than the category label to signal the goal served by a brand. Exemplars are brands that are widely known for a particular benefit.
When a new brand is introduced, consumers attempt to categorize it in a manner that helps them understand at least one goal that can be achieved by using it. This is easily done when the brand fits neatly into a familiar category.
Answer:
Cost of goods= $342
Explanation:
We have the following information:
Direct materials:
Beginning inventory= $18
Purchase= $67
Ending Inventory=16
Direct material used in during the year= Beginning+purchase-final inventory= 18+67-16= $69
Direct labor= $115
Manufacturing overhead= $157
Work in process:
Beginning WIP= $23
Ending WIP= $22
To calculate the cost of goods we need to use the following formula:
Cost of goods= Beginning WIP+Direct material+direct labor+ M.overhead - Ending WIP
<u>We discount ending work in process because it is computable to the next period</u>.
Cost of goods= 23+69+115+157-22= $342
Answer:
The correct answer is letter "A":
Managers should be held responsible for only actual revenues and actual costs and not for standard revenues or standard costs.
Explanation:
Standard revenues and costs in a company are those calculated after several years of operations. It measures an approximate of how much profits the organization could earn and how much is needed to keep the operations going. Managers should only be evaluated on the actual profits and costs incurred in the firm since only with them they have control.
Answer:
Total return based on US dollars was $840.
Explanation:
a) Data and Calculations:
Initial investment in British securities = 2,000 pounds
Initial exchange rate = $1.50 = 1 pound
Initial worth of investment in US dollars = $3,000 (2,000 * $1.50)
Current value of British securities = 2,400 pounds
Current exchange rate = $1.60 = 1 pound
Current worth of investment in US dollars = $3,840 (2,400 * $1.60)
Therefore, the total return, based on US dollars, is Current worth of investment minus Initial worth of investment
= $3,840 - $3,000
= $840
