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Lera25 [3.4K]
3 years ago
13

A company has a beginning inventory of $ 20 comma 000 and purchases during the year of $ 130 comma 000. The beginning inventory

consisted of 3 comma 000 units and 6 comma 000 units were purchased during the year. The company has 5000 units left at yearminusend. Under averageminus​cost, what is Cost of Goods​ Sold? (Round any intermediary calculations to two decimal places and your final answer to the nearest​ dollar.)
Business
1 answer:
ollegr [7]3 years ago
7 0

Answer:

$66,680

Explanation:

The computation of the cost pf goods sold is shown below:

= Number of units sold × average cost per unit

where,

Number of units sold equals to

= Beginning inventory units  + purchased units - ending inventory units units

= 3,000 units + 6,000 units - 5,000 units

= 4,000 units

Now the average cost per unit would be

= (Beginning inventory + purchases) ÷ (Beginning inventory units + purchased units)

= ($20,000 + $130,000) ÷ (3,000 units + 6,000 units)

= $16.67

Now put these values to the above formula  

So, the value would equal to

= $4,000 units × $16.67

= $66,680

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producers, distributors, consumers, labor, resources, and capital

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Purchase order processing requires distributing, allocating and executing funds, ensuring that funds are not over-committed, and
kobusy [5.1K]

Answer:

Hi, so it apprears that this question is about Purchase Order processing.

Whilst it is important to note that the steps used in purchasing process differs from company to company depending on their policies and practices, There are also very generic steps that cut accross board. They are:

Here are the steps involved:

1. Creation of the Purchase Order

2. Approval of the Purchase Order

3. Dispatch of the Purchase Order

4. Making and taking delivery of the good(s) and or service(s) that was requested whilst checking to confirm their consistency with what was ordered.

5. Issurance of Invoice by the supplier to the purchaser demanding payment for good(s) and or service(s) delivered

6. Checking that the invoice, the purchase order and the cotents of the delivery note all synchronise before making payment.

Explanation:

Purchase order management is a subset of Financial Management. Management of finance as the name implies connotes the proper and judicial management of cashflow.

When purchae orders are reviewed, it is with the intention to check

  1. whether or not the items ordered are no longer required
  2. whether or not the supplier is unable to provide or deliver the requested item(s) and or service(s)
  3. whether or not an invoice has been treated for a recieved devlivery

In doing so, funds are allocated properly (that is, there are no critical shortfalls or excessive commitment of funds. This allows for proper cashflow management.

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5 0
3 years ago
Last month, Vern’s Assembly Department had a unit materials cost of $4.00 and a unit conversion cost of $5.00. The department tr
Mamont248 [21]

Answer:

The total cost of the department’s ending work in process inventory is $684,000

Explanation:

The computation of the total cost is shown below:

= Material cost + conversion cost

where,

Material cost = (Transferred units + ending work in progress) × material cost per unit

= (68,000 units + 12,000 units) × $4

= $320,000

Conversion  cost = (Transferred units + ending work in progress × percentage of completion) × material cost per unit

= (68,000 units + 12,000 units × 40%) × $5

= $364,000

Now put these values to the above formula  

So, the value would equal to

= $32,000 + $364,000

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8 0
3 years ago
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received
Alenkasestr [34]

Answer:

a. $44,200

b. $44,684

Explanation:

To calculate after-tax costs we just need to deduct the tax saving amount from the pre-tax amount. The tax saving amount can be calculated bt multiplying the pre-tax amount into the tax rate

Requirement A (If she pays the $65,000 in December)

After-tax cost = Pre tax cost - PV of tax saving

After-tax cost = 65,000 - 20,800

After-tax cost = $44,200

working

Tax saving = $65,000 x 32%

Tax saving =  $20,800

Requirement B  (If she pays the $65,000 in January)

After tax cost = $65,000 - $20,315

After tax cost = $44,684

working

Tax saving = $65,000 x 35%

Tax saving = $22,750

Pv of tax saving = $22,750 x 0.893

Pv of tax saving = $20,316

7 0
3 years ago
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