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
julia-pushkina [17]
3 years ago
10

Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 1/1 - Beginn

ing Inventory (Quantity 1,000 - Price/Cost = $12), 2/4 - Purchase (Quantity 2,000 - Price/Cost = $18), 2/20 - Sale (Quantity 2,500 - Price/Cost = $30), 4/2 - Purchase (Quantity 3,000 - Price/Cost = $23) 11/4 - Sale (Quantity 2,200 - Price/Cost = $33) Instructions: Compute cost of goods sold, assuming Elho uses: (a) Periodic System, FIFO cost flow, (b) Perpetual System, FIFO Cost Flow (c) Periodic System, LIFO Cost Flow (d) Periodic, LIFO cost flow, (e)Periodic, weighted avg cost flow, (f) perpetual system, moving average cost flow.
Business
1 answer:
bixtya [17]3 years ago
3 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1/1 - Beginning Inventory (Quantity 1,000 - Price/Cost = $12)

2/4 - Purchase (Quantity 2,000 - Price/Cost = $18)

2/20 - Sale (Quantity 2,500 - Price/Cost = $30)

4/2 - Purchase (Quantity 3,000 - Price/Cost = $23)

11/4 - Sale (Quantity 2,200 - Price/Cost = $33)

Units sold= 4,700

1) Periodic - FIFO

COGS= 1,000*12 + 2,000*18 + 1,700*23= 87,100

2) Perpetual - FIFO

COGS= 1000*12 + 1500*18 + 500*18 + 1,700*23= $87,100

3) Periodic - LIFO

COGS= 3,000*23 + 1,700*18= $99,600

4) Perpetual - LIFO

COGS= 2,000*18 + 500*12 + 2,200*23= $92,600

5) Periodic - weighted

Average price= (12 + 18 + 23)/3= 17.67

COGS= 4,700*17.67= $83,049

6) Perpetual - weighted

COGS= 15* 2,500 + 17.67*2,200= $76,374

You might be interested in
Which of these is an advantage of checking accounts?
Katarina [22]

Answer:

Checking accounts allow convenient ways to deposit or withdraw funds.

Explanation:

Checking accounts do not have restrictions on the number of withdrawals and deposits that a customer can make. It means one can withdraw and deposit as many times as they want.

The money saves in a savings accounts is considered risk free. The probability of losing the money is negligible. For this reason, a checking account offers a safe and convenient way of depositing and withdrawing.

7 0
3 years ago
Read 2 more answers
The channel of distribution consists of ___________, who assist in moving goods and services from producers to businesses and fr
sp2606 [1]

Answer: intermediaries

                                       

Explanation: In simple words, channel of distributions refs to the chain of business activities and intermediaries who prof rm the function of transferring the product from the producer to its final customer.

This channel of distribution consists of intermediaries such as agents, brokers , wholesalers and retailers who deals with each other at different levels and earn their margin of profit from the product while transferring it to next stage.

These are important parties to the market as without them producer has to perform all the ruination by himself which can result in delay or unstable supply in the market.

5 0
3 years ago
Sales returns and allowances are reported on the ______.
labwork [276]

Sales returns and allowances are reported on the <u>Income Statement</u>.

<h3>What is the income statement?</h3>

The income statement is a financial statement wherein the sales revenue and cost of goods sold and operating expenses are summarized in order to obtain the net income.

When reporting the sales returns and allowances on the income statement, they are subtracted from the gross sales to arrive at the net sales.

Thus, sales returns and allowances are reported on the <u>Income Statement</u>.

Learn more about the income statement at brainly.com/question/24498019

5 0
2 years ago
Osawa, Inc., planned and actually manufactured 200,000 units of its single product in 2017, its first year of operation. Variabl
kompoz [17]

Answer:

The correct answer is C.

Explanation:

<u>The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).</u>

We need to calculate the net operating income:

Sales= 120,000*40= 4,800,000

Total variable cost= (20 + 10)*120,000= (3,600,000)

Total contribution margin= 1,200,000

Fixed manufacturing costs= (600,000)

Fixed operating (nonmanufacturing) costs= (400,000)

Net operating income= 200,000

6 0
3 years ago
Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the
Eduardwww [97]

Answer:

Net operating income= 4,134

Explanation:

Giving the following information:

Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the tax rate is 35 percent.

Sales= 19,570

COGS= 9,460

Gross profit= 10,110

Depreciation expense= 2,130

Interest expense= 1,620

EBT= 6,360

Tax= 2,226

Net operating income= 4,134

8 0
3 years ago
Other questions:
  • 9. A project has an annual operating cash flow of $52,620. Initially, this four-year project required $5,160 in net working capi
    7·1 answer
  • When performing the management _____ function, managers measure the results of operations and compare them with the results they
    9·1 answer
  • What is axiom of power
    8·1 answer
  • Jiminy’s Cricket Farm issued a bond with 30 years to maturity and a semiannual coupon rate of 6 percent 4 years ago. The bond cu
    5·1 answer
  • Doromo Inc., a leading manufacturing company, introduced a new product into the market. As a part of this process, the managemen
    14·2 answers
  • How to write 600,000+30,000+4,000+700+30 in word form?
    15·1 answer
  • Sandhill Company issued $2,400,000 of 10%, 10-year bonds on January 1, 2017, at 103. Interest is payable semiannually on July 1
    12·1 answer
  • The contrast between those with and those without Internet access is known as the __________ divide.
    7·1 answer
  • The long run average cost curve is also called as​
    5·1 answer
  • The u.s. bureau of labor statistics has a website that can be of great help when researching careers. it contains many types of
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!