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
zzz [600]
3 years ago
11

The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 1,950 units at $22 each on January

1. Xu purchases 2,200 units at $21 each in February and 1,050 units at $23 each in March. There were no additional purchases or sales during the remainder of the year. Xu sells 1,000 units during the quarter. If Xu uses the weighted average method, what is its cost of goods sold for the quarter? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)
Business
1 answer:
kramer3 years ago
3 0

Answer:

$21,770

Explanation:

The computation of cost of goods sold is shown below:-

= (1,950 × $22) + (2,200 × $21) + (1,050 × $23)

= $42,900 + $46,200 + $24,150

= $113,250

Total number of units for sale = 1,950 + 2,200 + 1,050

= $5,200

Weighted average cost per unit = Cost of units available for sale ÷ Number of units available for sale

= $113,250 ÷ $5,200

= $21.77

Cost of goods sold = Sold units × Weighted average cost per unit

= 1,000 × $21.77

= $21,770

You might be interested in
Which of the following is a dimension of national culture?
BartSMP [9]

Answer:

(B) Uncertainty avoidance.

Explanation:

Uncertainty avoidance is one of the dimensions of national culture.

It deals with with degree at which members of a society feel comfortable and tolerate uncertainty and the unknown.

People in cultures with high uncertainty avoidance try to reduce the occurrence by implementing rules and regulations while those in cultures of low uncertainty avoidance feel more comfortable and have no need to implement many rules.

4 0
3 years ago
Anton is a salesperson at GF Motors Co. Ben, a customer, has an engine complaint with the car he purchased from GF Motors. Anton
posledela

Answer:

He should offer solution and gain agreement that the proposed solution is acceptable.

Explanation:

Achieving customer satisfaction is essential for any Company to be a successful entity. Anton is one of the representatives of Company and hence he needs to present the Company in good light before the customers. One of the ways of doing this is to pay attention to their grievances with the attempt to solve and redress the same as Anton should do in the above manner.

5 0
3 years ago
When a company sets a high price for a new product with the intention of reducing the price in the future, it is using the _____
bazaltina [42]

Answer:

Market Skimming

Explanation:

Market skimming is a pricing technique whereby producers and organizations set high introductory prices in order to attract buyers with strong affinity for the products and who possess the resources to buy it, Then over time continue to gradually reduce to products so others in the market could afford it. It is also known as price skimming, involves setting high prices for a product just launched in the market. A highly selective market is where techniques like this thrives.

8 0
3 years ago
Read 2 more answers
If we are covering labor and overhead costs of an item in a Managerial Accounting course, we are referring to which concepts?
Umnica [9.8K]

Answer: D. Manufacturing cost

Explanation:

Manufacturing costs include all costs related to the production of a good. This includes direct costs such as direct labor and material and also manufacturing overheads such as assembly line manager salary.

When talking about both labor and overhead costs in relation to a good in managerial accounting, the relevant concept is therefore manufacturing costs as it envelops the two terms.

6 0
2 years ago
What assumption in the food industry did Howard Moskowitz change?
Vedmedyk [2.9K]

Answer:

"By evolving from a one-size-fits-all approach to one that embraces customer diversity, Moskowitz was able to improve customer experiences with food products from coffee to cola to spaghetti sauce and beyond."

this is what I found online

4 0
3 years ago
Other questions:
  • The cincinnati history museum displays materials and related aspects of the history of cincinnati and the surrounding region. th
    13·1 answer
  • What are the major functions of the entrepreneur?
    11·1 answer
  • The required sales in units to achieve a target net income is:___________ (sales target net income)
    13·1 answer
  • Jody’s boss has asked her to inform her coworkers about a change in the company’s policy regarding the dress code. To convey thi
    9·1 answer
  • Casey Communications recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. Thi
    11·1 answer
  • Interest rate is 3% and total of 4370.91 will be paid to you at the end of 3 years shat us the present value of that sum
    12·1 answer
  • Hailey Corporation pays a constant $9.45 dividend on its stock. The company will maintain this dividend for the next 13 years an
    5·1 answer
  • Harry is a citizen and resident of Saudi Arabia. During the current year, Harry never visits the United States, nor does he hold
    5·1 answer
  • Describe two rights and two reposibilities as an employer
    11·1 answer
  • The fact that Black Diamond has employees working in the organization from all around the world demonstrates:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!