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
loris [4]
3 years ago
12

Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 24 units were purchased at $23 per unit. Au

gust 18, 40 units were purchased at $25 per unit. August 29, 34 units were sold. What was the amount of the cost of goods sold for this sale? rev: 10_23_2013_QC_37882, 10_30_2013_QC_37882, 11_01_2013_QC_37882 Multiple Choice $952.00 $1,552.00 $1,000.00
Business
1 answer:
Gnoma [55]3 years ago
5 0

Answer:

Cost of goods sold= $816

Explanation:

Giving the following information:

Acme-Jones Corporation uses a weighted-average perpetual inventory system.

August 2: 24 units were purchased at $23 per unit.

August 18: 40 units were purchased at $25 per unit.

On August 29: 34 units were sold.

Weighted-average= (23 + 25)/2= $24

Cost of goods sold= 34*24= $816

You might be interested in
Ramort Company reports the following cost data for its single product. The company regularly sells 21,500 units of its product a
Fittoniya [83]

Answer:

Gross margin= $744,760

Explanation:

<u>The absorption costing method includes all costs related to production, both fixed and variable.</u> The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unitary fixed overhead= 52,900 / 21,500= $2.46

Total unitary production cost= 10.3 + 12.3 + 3.3 + 2.46= $28.36

<u>Now, the gross margin:</u>

Gross margin= sales - COGS

Gross margin= 21,500*63 - 21,500*(28.36)

Gross margin= $744,760

7 0
3 years ago
A change in depreciation method is accounted for:Select one:a. Retrospectively.b. Prospectively, like changes in accounting esti
arlik [135]

Answer: :a. Retrospectively

Explanation:

A change in depreciation method is a change in accounting policy and as such it would need to be accounted for retrospectively.

This means that it must be accounted for by going back to all periods where the change affects an entry and adjusting that entry for the change so that the accounting can be more accurate.

5 0
3 years ago
The rate established at the beginning of a period that uses estimated overhead and an allocation factor such as estimated direct
Bumek [7]

Answer:

Predetermined overhead rate

Explanation:

The predetermined overhead rate is the rate that is computed by taking the estimated manufacturing overhead and the same would be divided by allocation factor that could be estimated direct labor, estimated direct hours, etc in order to assign the overhead cost

So according to the given situation, the first option is correct i.e. predetermined overhead rate

5 0
3 years ago
unlike other types of play, dramatic play is purely for fun and is not meant to be a learning experience. True or False
____ [38]

Answer:

false

Explanation:

you are always learning something

5 0
3 years ago
​a _____ controls database operations, including storing, retrieving, updating, and deleting data.
Radda [10]

Answer: A data language controls database operations including storing, retrieving, updating and deleting data

Explanation: This is the definition for manipulation

3 0
3 years ago
Read 2 more answers
Other questions:
  • Bowers looked to the American Political Dictionary to define ‘civil rights’, which are those "positive acts of government design
    6·1 answer
  • "generally, assuming no negligence on the part of the victim, when an endorsement on a check has been forged and properly report
    12·1 answer
  • Beyonce, taylor swift, and miley cyrus make commercials that encourage people to drink milk. these ads contain _____ . trade-off
    7·2 answers
  • A limitation of using past performance as a basis for judging actual results is that​ ________. A. future conditions can be diff
    15·1 answer
  • What would likely have the most severe immediate effect on an economy? Multiple Choice A significant drop in exports. The Fed's
    7·1 answer
  • A _ is used to apply for jobs or even to collage
    11·2 answers
  • Question #5
    10·1 answer
  • Sunland Inc. took a physical inventory at the end of the year and determined that $789000 of goods were on hand. In addition, Su
    10·1 answer
  • How do competition and the introduction of novel businesses impact the transportation industry? (Select all that apply.)
    8·1 answer
  • Nation Beta employing all its available resources nation alpha can produce either 800 units of chemicals or 1,600 units of cloth
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!