True or false

The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 40 $ 10

Agata [3.3K]

Answer:

(a) FIFO (b) LIFO (c) weighted

average cost:

Cost of goods available for sale $2,600 $2,600 $2,600

Ending inventory 1,540 1,500 1,516

Sales $1,400 $1,400 1,400

Cost of goods sold 1,060 1,100 1,083

Gross profit $340 $300 $317

Explanation:

a) Data and Calculations:

Units Unit Cost Unit Selling Price

July 1 Beginning Inventory 40 $ 10 $400

July 13 Purchase 200 11 2,200

July 25 Sold ( 100 ) $ 14 (1,400)

July 31 Ending Inventory 140

July 31 Goods available 240

Average unit cost = $10.83 ($2,600/240)

FIFO:

Cost of goods available for sale $2,600 ($400 + $2,200)

Ending inventory 1,540 (140 * $11)

Sales $1,400 ($14 * 100)

Cost of goods sold 1,060 (40 * $10 + 60 * $11)

Gross profit $340

LIFO:

Cost of goods available for sale $2,600 ($400 + $2,200)

Ending inventory 1,500 (40 * $10 + 100 * $11)

Sales $1,400 ($14 * 100)

Cost of goods sold 1,100 (100 * $11)

Gross profit $300

Weighted Average:

Cost of goods available for sale $2,600 ($400 + $2,200)

Ending inventory 1,516 (140 * $10.83)

Sales $1,400 ($14 * 100)

Cost of goods sold 1,083 (100 * $10.83)

Gross profit $317

4 0

3 years ago

The moving-average forecasting method is a very good one when conditions remain pretty much the same over the time period being

astraxan [27]

Two of the most usually used forecast error measures are suggested absolute deviation (MAD) and implied squared errors (MSE). MAD is the average of absolute mistakes. MSE is the average of the squared errors. mistakes of contrary symptoms will not cancel every difference out in both measures. however, with the aid of squaring the mistakes, MSE is extra sensitive to big mistakes. both MAD and MSE can be used to examine the performance of different forecasting techniques. The high-quality approach is the only one that yields the lowest MAD/MSE. - consequently, the statement in the query is fake.

A smoothing regular of 0.1 will motivate an exponential smoothing forecast to react extra quickly to a sudden exchange than a fee of zero. three will. - false

A weighted shifting common permits unequal weighting of earlier time intervals. The sum of the weights has to be identical to 1. often, more recent periods are given better weights than durations farther beyond. Exponential smoothing places big weight on beyond observations, so the initial cost of a call may have an unreasonably big effect on early forecasts. for this reason, the assertion in question is fake.

In an easy linear regression model, the correlation coefficient not handiest indicates the strength of the relationship among independent and structured variables, however, also suggests whether or not the relationship is tremendous or negative. as a result the announcement in the query is genuine.

Forecasting techniques including moving-average, exponential smoothing, and the final-value approach all represent averaged values of time-series records. authentic

The shifting-average forecasting method is a very good one while conditions continue to be pretty a lot identical over the time period being considered.. authentic.

Learn more about the forecasting method here

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8 0

1 year ago

Explain how each of the following transactions generates two entries—a credit and a debit—in the American balance of payments ac

ANEK [815]

Answer:

Explanation:

A. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank. - Credit Swiss bank and Debit Capital account as purchase of German Stock

B. An American buys a share of German stock, paying the seller with a check on an American bank. Credit American bank and Debit Capital account as purchase of German Stock

C. The French government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy French currency from its citizens. Credit American bank and Debit Capital account as foreign currency exchange

D. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check. Credit Traveler's check (Current Account) and Debit Currency transfer (payment for service)

E. A California winegrower contributes a case of cabernet sauvignon for a London wine tasting. it has no financial implication as its a donation.

F. A U.S.-owned factory in Britain uses local earnings to buy additional machinery. No entry as the transaction has nothing to do with country's asset.

8 0

3 years ago

You know the _____ method of budgeting is being employed after hearing an experienced marketing department manager respond to a

Marianna [84]

Answer:

Arbitrary allocation.

Explanation:

Arbitrary allocation is a method where costs budgeted are not based on any precise measurement,hence accurate costs could not be arrived at.

This approach to budgeting breeds inefficiencies as the accurate budgeting is expected to lead to accurate costing of products as well as pricing.

All in all,the true profitability of a business cannot be ascertained.

Finally,the organization adopting this type of approach needs to change to other accurate methods of budgeting such incremental or rolling budgeting.

3 0

3 years ago

Read 2 more answers

A(n) _____ is a strategy that guarantees a solution to a problem. subgoal

salantis [7]

Answer:

Algorithm

Explanation:

An algorithm can assist in solving organizational problems by setting standards that will aid in decision making. They are effective because they use statistical data and past information stored so that through artificial intelligence executives get data that surpasses human limitations. But it should be reviewed by IT professionals to avoid failures.

5 0

4 years ago