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ziro4ka [17]
3 years ago
9

Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales:

Business
1 answer:
Rom4ik [11]3 years ago
7 0

Answer:

The value of cost of goods sold is $2,730 as shown below

Explanation:

The sale of 120 units made on January 17 is valued at $1,080  (120*$9) taking from stock purchased last on January 1

The sale of 160 units on January 29 is valued at $1,650    (150 units*$11) taking the items purchased last on January 20

The cost of goods sold =$1,080+$1,650

Cost of goods sold=$2,730

The value of closing inventory=30*$9+10*$11

                                                   =$270+$110

                                                   =$380

Hence value of costs of good sold is $2,730 while closing inventory is valued at $380

           

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K Company estimates that overhead costs for the next year will be $3,700,000 for indirect labor and $960,000 for factory utiliti
Ilya [14]

Answer:

Predetermined manufacturing overhead rate= $37.28 per direct labor hour

Explanation:

Giving the following information:

Estimated overhead= 3,700,000 + 960,000= $4,660,000

Estimated direct labor hours= 125,000

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

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Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 4,660,000/125,000

Predetermined manufacturing overhead rate= $37.28 per direct labor hour

8 0
2 years ago
Tele-com, inc., the nation's largest cable tv company, tested the effect of a price reduction for the disney channel. it lowered
Sladkaya [172]
<span>This means that there were customers that were wanting the Disney channel, but did not get it because it was too expensive. Once the price went down these customers bought the service. The cable company test showed that they should keep their prices for the Disney channel low to generate more revenue. Even if they only had one customer to begin with they would only be making $10.75, and when they lowed their prices they would be making at least $15.90.</span>
8 0
3 years ago
RecRoom Equipment Company received an $13,200, six-month, 7 percent note to settle an $13,200 unpaid balance owed by a customer.
Effectus [21]

Answer:

RecRoom Equipment Company

Date                 Particulars               Debit              Credit

1Nov            Note Receivable      $ 13,200

                          Account Receivable                 $ 13,200

RecRoom Equipment Company received an $13,200, six-month, 7 percent note to settle an $13,200 unpaid balance owed by a customer.

31 December  Interest Receivable        $ 924

                              Interest Revenue                $ 924

To record the accrued interest earned. $13,200*7%= $ 924. As it is for two months the amount would be $ (924/12)*2= $ 154

1 May            Cash                    $ 13,662

                            Interest Income                           $ 462

                               Notes Receivable                  $ 13,200

  RecRoom receives the interest on the note's maturity date. RecRoom receives the principal on the note's maturity date.                                    

5 0
3 years ago
Selections made with replacement are considered to be
son4ous [18]

<u>Answer:</u>

<em>Selections made with replacement are considered to be Independent </em>

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<u>Explanation:</u>

An ISAC evaluates the possibility for a business opportunity on the general reasonableness of every contender for the obligations, their business-related characteristics and the overall limit of every chance to accomplish results identified with the commitments

These revisions will empower an ISAC to get to specialized ability when evaluating the general appropriateness of applicants, for instance, utilizing an appraisal focus or experts to give specialized testing. The corrections are reliable with current office practice for non-ISAC enrollment forms and reflect present-day enlistment rehearses.

3 0
3 years ago
Don was driving his truck when a board fell out of the truck bed and onto the road. Alice, who was driving closely behind Don's
Serggg [28]

Answer:

A. In a comparative negligence state, the actions of Don and Alice will be weighed to determine liability.

Explanation:

Comparative negligence is a way to weigh the negligence of the parties involved in a dispute.

In this case Don could be said to be negligent by not securing the boards properly in his truck, resulting in them falling off.

On the other hand Alice should have not been driving very closely to Don's truck.

So the actions of Don and Alice will be weighed to determine liability.

5 0
3 years ago
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