Answer:
$84,000
Explanation:
The computation of the ending inventory using the FIFO method under the periodic inventory system is shown below:
Since 7,000 units are on hand which represents the 7,000 units are taken from the August 28 date for $12 each i.e
= 7,000 units × $12
= $84,000
By dividing the 7,000 units at $12 each we can get the ending inventory
Answer:
rate of return 9.22%
Explanation:
15% return on fund value - 2.4% fund expenses = 12.6% net fund gain
then, the shares were purchased with a loan which required to paiy 3% of interest up-front
therefore, we didn't invest 100% of the loan but 97%
0.97 x .126 = 0,12222
now, we subtract the 3% paid of interest:
.1222-0.03 = .0922 = 9.22%
Answer:
B. Full disclosure principle
Explanation:
Full disclosure principle ensures that all relevant financial information is reported
Answer:
production schedule for July = 815 10-inch skillets
Explanation:
price of 10-inch skillet $28
projected sales 625 units
costs:
- direct materials $6
- direct labor $3
- manufacturing overhead $5
- sales and administrative expenses $1,000
beginning inventory 60 units
ending inventory 40% of August sales
production during July = (projected sales - beginning inventory) + (40% x projected sales August) = (625 units - 60 units) + (40% x 625 units) = 565 units + 250 units = 815 10-inch skillets
