All categories

3 years ago

Coronado Company's record of transactions concerning part X for the month of April was as follows.

Business

1 answer:

Olin [163]3 years ago

8 0

Answer:

1.FIFO 5,631.4

2.LIFO 7,685

3.8.8542 per unit

Explanation:

Coronado Company's

1)First-in, first-out (FIFO)

(520×8.47+ 150×8.18)

= 4,404.4+1,227

= 5,631.4

2)Last-in, first-out (LIFO)

(420×7.30+ 620×7.45)

= 3,066+4,619

= 7,685

3.Cost of goods available for sale

Date Transactions Units ×Rate =Total

Apr-01 Beginning inventory 420 ×$7.30 =$3,066

Apr-04 Purchase 720×$7.45 =$5,363

11-Apr Purchase 620 ×$7.74 =$4,798.8

18-Apr Purchase 520×$7.81 =$4,061.2

26-Apr Purchase 920 ×$8.18= $7,525.6

30-Apr Purchase 520 ×$8.47 $4,404.4

Total: 3,300 $29,219

720+620+520+920+520=3,300

$3,066+5,363+4,798.8+4,061.2+7,525.6+4,404.4 =29,219

Average cost per unit =

Total cost of goods available for sale / Units available for sale

Hence:

$29,219 / 3,300

=8.8542 per unit

You might be interested in

What is the relationship of a single firm's demand curve in a purely competitive industry?

pav-90 [236]

Pure competition or perfect competition is where all firms have full knowledge of what is going on in the market, where there is free flow of information between not only the producers, but also with the consumers.

As such, all firms have no dominant share of market power since each individual firm is able to produce the good of the same quality and quantity (factors of production are fluid, and no costs in transportation in this theory). And at the same time, consumers have full knowledge of the quality of good they are getting and hence no firm will be able to exploit the misinformation of a good for its own profits.

This builds up to the point of a perfectly elastic demand curve, where consumers know what amount and at which price point do they value the product at. And knowing for the fact that small individual firms in a purely competitive firm have no say over prices, they become the price takers for this kind of market. Thus where MB=MC, the equilibrium point is reached and it is also at the socially optimal level since all consumers have full knowledge of the pros and cons of consuming a product (hence no externalities).

Hope this helps!<span />

6 0

3 years ago

How does the long-run equilibrium for a monopolistically competitive market differ from the long-run equilibrium for a perfect

Valentin [98]

Answer:

Following are the differences between monopolistically competetive market and perfectly competetive market.

Explanation:

Overall the profit ratio for the sellers is higher in monopolistically competitive market and low in a perfectively competitive market. In monopolistically competitive market, sellers charge a price higher than marginal cost, whereas, in a perfectly competitive market, the sellers charge a price equal to the marginal cost. In long-Run, the main difference between the competitive market and the monopolistic market is the excess capacity. It is the difference between the efficient level of output and profit-maximizing level of output.

3 0

3 years ago

a recently renovated catering facility has opened in your town. the property, for insurance purposes, is valued at $1,023,000 an

Natalka [10]

Answer: $1,288.98

Explanation: The cost of the Insurance is calculated at a cost per $100 of value. The first step is to calculate how many 100s are in the value of the property. This is done by dividing 1,023,000 by 100 = 10,230. Next, you need to multiply 10,230 by the rate of .126, which equals $1,288.98, the cost of the cost.

3 0

3 years ago

What is the relationship between quality and competitiveness?

Reika [66]

The relationship between them is that to be competitive you need to produce the best Quality

<h3>Quality and competitiveness</h3>

Question Parameters:

Quality
competitiveness

Generally ,Quality speaks to the originality and all round measure of how good a thing is i comparison to another

While competitiveness is a will or desire to be the best in a group of field

Therefore, the relationship between them is that to be competitive you need to produce Quality

For more information on Measure visit

brainly.com/question/17972372

3 0

2 years ago

Read 2 more answers

In the Keynesian model, it is assumed that, when demand for a firm's product changes, the firm:

REY [17]

Answer:

B. changes production levels to meet the demand.

Explanation:

The Keynesian model is usually used as a theoretical approach to understand economics in the short run. For Keynes, in the short term, firms can not change their prices immediately because exist a menu cost: the cost of changing prices. Instead, firms change the unique variable that they can control: quantities.

In such way can meet the demand in the short run.

7 0

3 years ago