1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mrs_skeptik [129]
4 years ago
12

Echo Sound Company just began business and made the following four inventory purchases in June: June 1 150 units $ 1,040 June 10

200 units 1,560 June 15 200 units 1,680 June 28 150 units 1,320 $5,600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. The inventory method which results in the highest gross profit for June is
Business
1 answer:
postnew [5]4 years ago
7 0

Answer:

FiFo method as prices are continuously increasing

Explanation:

Date                Units               Cost                    Per Unit Cost

June 1             150 units            $ 1,040               6.93

June 10           200 units              1,560               7.8

June 15          200 units               1,680               8.4

June 28          150 units               1,320               8.8

                                                  $5,600

As the unit price is increasing the method which yields the highest gross profit would be FIFO.But in some cases the income is overstated as the beginning inventory is too old to account for . Similarly Lifo gives lower net income but that too is not very beneficial when the inventory is almost obsolete.

The average method gives a measure in between FIFO and LIFO.

You might be interested in
Do all states pay the same unemployment compensation and for the same length of time?
kondaur [170]

Answer:

Explanation:

Ultimately, the onus is on the state government to balance the checkbook, so the state has to decide the benefits maximum amount, duration, and eligibility to receive the benefits. For this reason, you notice that unemployment benefits largely vary by state. Some states like Massachusetts could pay as high as $1,220 depending on the eligibility criteria.

4 0
3 years ago
Jessep Corporation has a standard cost system in which manufacturingoverhead is applied to units of product on the basis of dire
Orlov [11]

Answer:

Standard fixed overhead rate

= Budgeted fixed overhead cost

  Budgeted direct labour hours

= $45,000

  15,000 hours

= $3 per direct labour hour

Fixed overhead volume variance

= (Standard hours - Budgeted hours) x Standard fixed overhead rate

= (12,000 hours - 15,000  hours)  x $3

= $9,000(U)

The correct answer is B

Explanation:

In this case, we need to calculate standard fixed overhead rate, which is budgeted fixed overhead cost  divided by budgeted direct labour hours. Then, we will calculate fixed overhead volume variance, which is the difference between standard hours and budgeted hours multiplied by standard fixed overhead rate.

8 0
3 years ago
Careers in the Transportation and Logistics career cluster are
saul85 [17]

Answer:

B)secure industries that are expected to grow.

Explanation:

The other person was right but just accidently said A) instead of B)

Hope this helps! :D

8 0
3 years ago
In the united states, 54% of all garbage is categorized as ___________ waste.
kogti [31]

Answer:

agricultural and industrial

6 0
3 years ago
ClearPrint Company sells inkjet printers for a low basic price. Customers need to buy inkjet cartridges repeatedly. What type of
PilotLPTM [1.2K]

Answer:

C; captive

Explanation:

The correct answer here is the captive product pricing. This system enables companies to sell other product known as the captive product alongside the main product which is called the core product.

By selling the printer at a reduced price, the company can make a gain on this by ensuring that the auxiliary product which is the catridge is something that needs to be bought repeatedly.

Thus, the company has enhanced the sales of the ink catridge by ensuring that it’s an important part needed for the main product which is the printer to function.

So in this question, we can see that the catridge is the peripheral or auxiliary product otherwise called the captive product while the core product is the printer which is sold basically at a cheaper price

8 0
3 years ago
Other questions:
  • What does it mean when a job application asks for names previously used?
    11·2 answers
  • If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs for the period, t
    12·1 answer
  • What is the marginal product? (A.)amount of input used in the coat of production (B.)increase in input added by the last unit ou
    13·1 answer
  • Which methods predicts the amount by which the value of a firm will change if a project is accepted?
    8·1 answer
  • Assume that the price of oranges increases to $2, while the price of apples remains at $1, and Linda allocates $5 of the weekly
    13·1 answer
  • Adam Jones, the purchasing manager for ACME Corporation, is under suspicion for committing fraud. His superiors believe he is ac
    6·1 answer
  • A manufacturer reports the information below for three recent years.
    9·1 answer
  • Samir is a self-employed marketing consultant. He had no income from January through March 2020. His April through December 2020
    14·1 answer
  • Loan taken accounting equation<br>​
    15·1 answer
  • Oriole Company reported cost of goods sold as follows. 2022 2021 Beginning inventory $ 30,150 $ 20,730 Cost of goods purchased 1
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!