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2 years ago

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

Business

1 answer:

Olin [163]2 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

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Answer:

The CPA Practice Advisor

The probability that the mean price for a sample of 30 federal income tax returns is within $16 of the population mean is:

= 56%

Explanation:

a) Data and Calculations:

Population mean (preparation fee for 2017 federal income tax returns) = $273

Population standard deviation of preparation fees = $100

Mean price for a sample of 30 federal income tax returns = $257 (which is within $16 of the population mean)

z = (x-μ)/σ

z = standard score

x = observed value

μ = mean of the sample

σ = standard deviation of the sample

Z = ($273 - $257)/$100

= 0.16

Using the z-table

P = 0.5636

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2 years ago

If a $4,000 debit to Equipment in a journal entry is incorrectly posted to the ledger as a $4,000 credit and the ledger account

Dovator [93]

Answer:

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Has Coronvirus affected what you buy? Why or why not?

marin [14]

Answer:

corona virus has affected us in mental aand physical condition

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2 years ago

Budgeted performance is a better criterion than past performance for judging managers." do you agree? why?

eimsori [14]

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2 years ago

Philippe Organic Farms has total assets of $689,400, long-term debt of $198,375, total equity of $364.182, net fixed assets of $

solniwko [45]

Answer:

Current ratio= 1.3977

Explanation:

Current Ratio:

It is the measure of company ability to pay short term debits of one year. It also tells how company can increase its current assets.

Given:

Total assets=$689,400

Long-term debt=$198,375

Total equity= $364,182

Net fixed assets =$512,100

Sales = $1,021,500

Formula For current Ratio:

Current Ratio= $\frac{Total\ Assets-Net\ Fixed\ Assets}{Total\ Assets- long_term\ debt-total\ equity}$

$Current\ Ratio=\frac{\$689,400-\$512,000}{\$689,400-\$364,182-\$198,375}\\ Current\ Ratio=1.3977$

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3 years ago