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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

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Hawke Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $

sdas [7]

Answer:

2019:- 62000 Income ; 2020:- 24000 loss ; 2021:- 43000 Income

Explanation:

Assets - Liabilities = Capital (Closing / Opening both)

Profit = Closing Capital - Opening Capital + Drawings - Additional Capital

(Opening Capital = 1st Jan , Closing Capital = 31st Dec) here

2019

Closing Capital = Closing Assets - Closing Liabilities

400000 - 250000 = 150000

Profit = Closing Capital - Opening Capital + Drawings - Additional Capital

= 150000 - 100000 + 12000 = 62000 Income

2020

2020 Opening Capital = 2019 Closing Capital = 150000

Closing Capital = Closing Assets - Closing Liabilities

460000 - 300000 = 160000

Profit = Closing Capital - Opening Capital + Drawings - Additional Capital

160000 - 150000 - 34000 = 24000 loss

2021

2021 Opening Capital = 2020 Closing Capital = 160000

Closing Capital = Closing Assets - Closing Liabilities

590000 - 400000 = 190000

Profit = Closing Capital - Opening Capital + Drawings - Additional Capital

190000 - 160000 + 25000 - 12000 = 43000 Income

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3 years ago

Craigmont company's direct materials costs are $3,000,000, its direct labor costs total $7,000,000, and its factory overhead cos

Ivanshal [37]

Conversion cost is defined as the sum of direct labor costs and manufacturing overhead costs. It is the manufacturing cost needed to convert raw materials to a product. From the information given above, the conversion cost is the summation of direct material costs, direct labor costs and factory overhead costs.
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3 years ago

Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholde

zimovet [89]

Answer:

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $24,000 (600 shares × $40)

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To Additional Paid-in Capital in excess of par - Common Stock $4,300

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3 years ago

Use the graph to answer the question that follows. Graph has quantity along the horizontal axis and price along the vertical axi

Jlenok [28]

The statement that would describe the shift from D1 to D2 is Demand for the product increased.

<h3>Why was there a shift from D1 to D2?</h3>

D2 is a curve that is to the right of D1 which means that it represents a higher level of demand for goods and services.

This means that for the demand to move from D1 to D2, there must have been an increase in the demand for the good or service and this could have been for any number of reasons including a reduction in the price of complimentary goods.

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1 year ago

Jack Thomas, who live in Minnesota, and Sandy Silver, who live in Oklahoma, each purchased $92,000 worth of securities at the lo

Alenkasestr [34]

Answer:

Follows are the responses to the given points:

Explanation:

In point a:

Yeah, throughout the state court they will ever sue against fraud. As base with the that State is appropriate so because the main place of work is specific budget inventory representatives Inc.

In point b:

Thomas couldn't sue for cheating at the federal court successfully, because equality in nationality would be the only conceivable way. Because as a federal problem also isn't involved, Thomas and both are comprehensive residents of Michigan weren’t diverse for this situation. The business is a resident of all its corporate headquarters and the State of formation.

In point c:

Throughout this situation, silver can claim nationality plurality, as Oklahoma's comprehensive would not be a citizen. It simple company does company in such a state doesn't render that business a citizen. However, if silver has been damaged in terms of $75,000, this failure combined with citizenship diversity would allow it to sue extensively in a federal court. This event does not tell everyone how slowly he lost, however, the facts weren't enough to make a correct judgment.

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3 years ago