Answer:
$428.13
Explanation:
Note <em>The missing word have been attached as picture below</em>
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Weighted average cost per unit = [(450*$2.18) + (370*$2.62)] / (450 + 370)
Weighted average cost per unit = ($981 + $969.4) / 820
Weighted average cost per unit = $1950.4 / 820
Weighted average cost per unit = 2.378536585365854
Weighted average cost per unit = $2.3785
Ending inventory unit = 450 + 370 - 640
Ending inventory unit = 180
Value of ending inventory = $2.3785 * 180 units
Value of ending inventory = $428.13
Answer:
a. -$210,000
b. $455,000
Explanation:
a. Company's net income
Sales. 2,275,000
Less:
Cost of goods sold
1,285,000
Administrative and selling expenses
535,000
Depreciation expense
420,000
EBIT
35,000
Less interest
245,000
Taxable income
-$210,000
Taxes 21%
Nil
Net income
-$210,000
b. The operating cash flow for the year
OCF = EBIT + depreciation - taxes
OCF = 35,000 + 420,000 - 0
OCF = $455,000
c. Net income was negative due to the deductibility of interest expense and depreciation.
The actual operating cash flow was positive due to the fact that depreciation is a non cash expense, and also interest is a financing and not an operating expense.
Answer:
As a part of internal accounting controls, the activity called <u>RECONCILIATION</u> involves detecting and avoiding errors.
Explanation:
Reconciliation involves detecting and avoiding errors since it helps management to discover or detect any mistakes and errors, and can also help to understand why these errors occurred and how to prevent future mistakes.
Reconciliation is basically comparing two different accounting records and making sure that they match, e.g. reconciliation of bank account and cash balance. If you cannot reconcile the company's bank account with its cash balance, it means something is wrong. Is the mistake intentional? Why did it occur? How can you prevent it from happening again? Can it be solved?
Monopolists set prices without constraints since there is no competition.
Monopolistic is a type of market in which there is no competitor. It has only a single supplier and the goods are provided by a single company. In this market only a single company control demand and supply of the services. It can also b said that it is a non-competitive market. The absence of competition in the market allows the company to determine the price of the commodity. It takes away the bargaining power from the consumer. The single entity offers a unique product to the market and there is no alternative substitute available to the market. Government can curtail the monopoly of a company by limiting price increases, merger regulation, separating entities, etc.
Learn more about Monopolistic here: brainly.com/question/25717627
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