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Alexandra [31]
3 years ago
9

In its first month of operations, Concord Corporation made three purchases of merchandise in the following sequence: (1) 650 uni

ts at $4, (2) 750 units at $6, and (3) 850 units at $7. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost $enter an average unit cost in dollars eTextbook and Media List of Accounts Compute the cost of the ending inventory under the average-cost method, assuming there are 550 units on hand at the end of the period. (Round answer to 0 decimal places, e.g. 125.) The cost of the ending inventory $enter the cost of the ending inventory in dollars
Business
1 answer:
Triss [41]3 years ago
7 0

Answer: Average unit cost=$5.800 per unit

Cost of Ending inventory =$3,190

Explanation:

Average unit cost

First purchase= 650 units x $4=$2,600

Second Purchase=750 units x $6 =$4,500

Third Purchase=    850 units x $7 = $5,950

Total Cost =                                     $13,050

Average unit cost = Total cost/ number of units =13,050/(650+750+850)= 13,050/2250= $5.8 per unit

Cost of Ending inventory = 550 unts at hand x $5.8 =$3,190

(using the average cost method)

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Charles lackey operates a bakery in Idaho, Falls Because of its excellent product location, demand has increased by 35% in the l
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Answer: 0.27 loaves per dollar

Explanation:

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Bakery currently makes(Output) = 1,800 loaves per month

Paid Employees = $8.00 per hour

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I/P - Input cost

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3 0
3 years ago
Consider the last purchase of two goods by a consumer. A bag of chips costs $1.75 and the marginal utility is 20. A cup of chili
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Answer:

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Explanation:

The marginal utility of chili at which the consumer maximizes total utility can be calculated as follows:

Let:

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CCHILI = Cost of a cup of chili = $2.50

MUCHILI = Marginal utility of a cup of Chili = ?

The condition for the utility maximization of the consumer is as follows:

MUCHIP / CCHIP = MUCHILI / CCHILI ……………………………. (1)

Substituting all the relevant values into equation (1) and solve for MUCHILI, we have:

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(20 / 1.75) * 2.50 = MUCHILI

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Therefore, the marginal utility of chili must be 28.57 for the consumer to maximize total utility.

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