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Aleonysh [2.5K]
4 years ago
15

Peterson Company's records for the year ended December 31 show that no finished goods inventory existed at January 1 and no work

was in process at the beginning or end of the year. Net sales $1,400,000 Manufacturing costs Fixed 315,000 Variable 630,000 Operating expenses Fixed 140,000 Variable 98,000 Units manufactured 70,000 Units sold 60,000 What is Peterson's finished goods inventory cost at December 31 under the variable costing method?
Business
1 answer:
Bumek [7]4 years ago
5 0

Answer:

Peterson's finished goods inventory cost at December 31 under the variable costing method is $90,000

Explanation:

The computation of the Peterson's finished goods inventory cost is shown below:

= (Variable manufacturing cost ÷ units manufactured) ×  units difference

= ($630,000 ÷ 70,000 units) × 10,000 units

= $90,000

The units difference would be equal to

= Units manufactured - units sold

= 70,000 - 60,000

= 10,000 units

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Claremont Company specializes in selling refurbished copiers. During the month, the Company sold 195 copiers for total sales of
inn [45]

Answer:

So the option is C.<u>$39,000 unfavorable.</u>

Explanation:

Sales price variance=(Actual price - Budgeted price) x Actual unit sales

=($643,500/195-$3,500)*195 copiers

=-$200*195

=$39,000 Unfavorable.

So the option is C.$39,000 unfavorable.

8 0
4 years ago
In preparing a balance sheet why do you think standard accounting practice focuses on historical cost rather tham market value
dedylja [7]
<span>Historical costs can be objectively and precisely measured, whereas market values can be difficult to estimate because they really dependant on market's performance.
Therefore, to create a more accurate measurement of company's financial condition, standard accounting practice put more focus on </span><span>historical cost rather than market value</span>
4 0
3 years ago
Arrange the types of investments in the correct order from the least risky to the most risky investment.
sammy [17]
There are many types of investments. Some of them the given types of investment in the list.
A. Property are ownership investments. They are Real estate investments ( houses, apartment buildings, townhouses, and vacation houses. )
<span>They are the most volatile and profitable class of investment.
B. Bonds are lending investments. when </span>an investor effectively is loaning money to a company or agency (the issuer) in exchange for periodic interest payments plus the return of the bond’s face amount when the bond matures.
C. Staring a business - this is not an investment, but a whole process that needs investments to be realized.
D. Mutual funds are investment <span>funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.</span>
The order from the least risky to the most risky investment is:
B. Bonds
D. Mutual funds
A. Property
C. Starting a business



8 0
4 years ago
Read 2 more answers
Alex manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday,
statuscvo [17]

Answer: b. shoe-leather costs

Explanation:

This is the shoe-leather cost inflation. It refers to the time and effort expended by people to ensure that they are able to avoid their cash losing too much value to inflation. Includes for instance, going to the bank multiple times because you are holding little cash on hand so it does not lose value.

It is named shoe-leather costs as a play on words because it is assumed that the time and effort put will result in walking around alot and degrading the quality of your shoes.

3 0
3 years ago
XYZ Corp. has filled 100,000 purchase orders during its existence. 1,100 of the purchase orders have had errors. Using an empiri
cluponka [151]

Answer:

1.1%

Explanation:

Calculation to determine what the probability of the next purchase order having an error is using

an empirical probability

Using this formula

Probability=Purchase orders errors/Purchase orders filled

Let plug in the formula

Probability=1100/100000

Probability=0.011*100

Probability=1.1%

Therefore using an empirical probability the probability of the next purchase order having an error is 1.1%

5 0
3 years ago
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