A cycle or series of cycles of economic expansion and contraction.
Answer:
Cost of merchandise sold = $ 28
Gross profit = $ 13
The ending inventory under the LIFO method = $ 18
Explanation:
Given:
October 5,
Purchased units = 1
Unit cost = $5
on October 12,
Purchased units = 1
Unit cost = $ 13
On October 28,
Purchased unit = 1
Unit cost = $ 15
Total cost of the 3 units purchased = $33
Now, the unit sold on October 31 will be the unit purchased in the end i.e on October 28
thus,
Cost of merchandise sold = $ 28
Gross profit = Selling price of the unit - Unit price of purchase
or
Gross profit = $ 28 - $ 15 = $ 13
now, the ending inventory under the LIFO method = $ 5 + $ 13 = $ 18
The last one would most likely be it
Answer:
C :Job 1000, $1,860; Job 1001, $3,100
Explanation:
The computation of the total cost is shown below:
For Job 1000:
= Direct materials + Direct labor hours × wage rate per hour × Direct labor hours × overhead rate per hour
= $1,200 + 30 × $15 + 30 × $7
= $1,200 + $450 + $210
= $1,860
For Job 1001:
= Direct materials + Direct labor hours × wage rate per hour × Direct labor hours × overhead rate per hour
= $2,000 + 50 × $15 + 50 × $7
= $2,000 + $750 + $350
= $3,100
Answer:
Option C 362 Number of shares
Explanation:
The number of shares can be calculated by using the following formula:
Number of shares = Total Dividends paid / Dividend per share
As we know that:
The total dividends = $1567.46
And the dividend per share = $4.33
By putting the values in the above equation we have:
Number of shares = $1567.46 / $4.33 = 362 Number of shares
