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
german
2 years ago
6

Priscilla has the following inventory information.

Business
1 answer:
Mademuasel [1]2 years ago
3 0

The correct answer is found to be

a) $1,430.

Explanation:

  • To calculate FIFO (First-In, First Out) determine the cost of your oldest inventory and multiply that cost by the amount of inventory sold,
  • According to the LIFO method, the last inventory given should be the first one out. Which means, the units purchased at the 22nd should be the one to be first sold, also followed by the ones purchased at the 7th and by the beginning inventory on July 1st.
  • The number of units sold during July is:
  • n = 20 ₊ 70 ₊ 10₋30
  • n = 70 units
  • Using LIFO, the amount allocated to those goods should come from 10 units at $23 and 60 units at $20:
  • = 10 × $23 ₊ 60 ×  $20
  • = 1,430.
  • Therefore, the amount found to cost of goods sold for July is $1,430.

You might be interested in
A company has an opening stock of 6,000 units of output. The production planned for the current period is 24,000 units and expec
Orlov [11]

Answer:

Explanation:

                                                Last year           Current year

Selling Price                      10                         10

Varaible Price                5                         6

Contribution Margin               5                               4

Break even is the point where total cost is equal to total revenue mean no profit and loss.

company earns the contribution margin after covering the variable cost, now only fix cost remains for break even.

Break Even using FIFO method :  first In first out system

Fix Cost                                                                            =     86000

contribution from opening units(6000*5)                            =     30000

Remaining Fix cost that should be Covered from

current year products                                                            =     56000

 

Units to be sold for break-even ( 56000/4)   = 14000

so we have break even units   6000+14000 = 20000

Fix cost                              = -86000

Opening 6000*5              = 30000

Current   14000*4             = 56000

Profit                                   = 0

Break Even using LIFO method : Last in first out

Fix Cost                                                                            =     86000

Break even =  Fix Cost / Contribution margin

Break even =  86000/4 =21500

current production is 24000 which is higher than break even units so we can cover the fix cost from current year production because company is using lifo method. we do not need opening units for the break even.

4 0
3 years ago
One truth about using color in magazine advertising is?
Volgvan

Answer:

The correct answer is letter "A": Color ads are considered better suited for attracting and holding attention.

Explanation:

Magazines are mediums of communication targeted to a special sector of the market. Examples of magazines are <em>sports magazines, auto magazines, computer science and electronics magazines, </em>and <em>cuisine magazines</em> to mention a few.  

As magazines are published periodically it is important that the advertisement displayed captures the attention of the audience. To do so, magazines tend to use color promotions where readers can see the products being promoted more detailed than by just displaying them in black and white.

5 0
2 years ago
Suppose total benefits and total costs are given by B(Y) = 100Y − 8Y2 and C(Y) = 10Y2. Then marginal benefits are: 14) ______
Dahasolnce [82]

Answer:

C) 100 − 16Y

Explanation:

The computation of the marginal benefit is shown below:

The marginal functions represent the derivatives with respect to the total functions as compared to Y.

so, the marginal benefit function is MB(Y)=dB(Y) ÷ dY

d (100Y - 8Y^2} ÷ dY

= 100 -16Y

Therfeore the option c is correct

4 0
3 years ago
Which form of mass media was developed from a defense department project?
Kazeer [188]
The internet was the form of mass media developed from a defense department project
5 0
3 years ago
Read 2 more answers
When reflecting upon the newer generation, each older generation says the same thing:
kakasveta [241]

Answer:

live long boomers

Explanation:

4 0
2 years ago
Other questions:
  • According to immanuel wallerstein, currently, there are many countries whose production is owned or leased by dominating countri
    10·1 answer
  • Jane currently has $5,000 in her savings account and $2,000 in her checking account at the local bank. Instructions: Use a posit
    5·1 answer
  • According to management guru peter drucker, "the aim of marketing is to ________."
    14·1 answer
  • ____ evaluation methods use some measurable quantity as the basis for assessing performance.
    10·1 answer
  • Noa was paid a 25 percent commission for selling a used car. Percents Total 100% If she was paid $1,631.24, what was the selling
    6·2 answers
  • Which of the following digital marketing methods refers to a systematic process of ensuring that your firm comes up at or near t
    10·1 answer
  • What would happen to the equilibrium price and quantity of lattés if coffee shops began using a machine that reduced the amount
    5·1 answer
  • A person who invests in a business but takes no part in the day to day operations of the business is called a(n)
    9·1 answer
  • The following T-accounts record the operations of Oriole Co.: Assume all raw materials are direct materials. Raw Materials Begin
    14·1 answer
  • Based on the module, describe three strategies that can help you use credit wisely.
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!