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Kitty [74]
4 years ago
11

The Reuschel Company began 2021 with inventory of 24,000 units at a cost of $7 per unit. During 2021, 64,000 units were purchase

d for $8.50 each. Sales for the year totaled 75,000 units leaving 13,000 units on hand at the end of 2021. Reuschel uses a periodic inventory system and the LIFO inventory cost method.A) Calculate the cost of goods sold for 2021B) From a financial reporting perspective, what problem is created by the use of LIFO in this situation? Describe the disclosure required to report the effects of this problem.

Business
1 answer:
Trava [24]4 years ago
3 0

Answer:

Task A:

Cost of goods sold = $621,000

Task B:

The LIFO layer liquidation effect is to increase the income by <u>$16,500</u>.

Explanation:

<h2>The workings are attached as follows:</h2>

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A paycheck is issued for $329. 40. The paystub reflects an amount earned of $400. 00, Medicare tax of $5. 80, Social Security ta
cestrela7 [59]

Net income is the amount that will be earned after all the taxes have been subtracted from the paystub amount.

<h3>The net income for the paycheck</h3>

Given Information:

  • Paycheck=$329.40
  • Paystub=$400.00
  • Medical tax=$5.80
  • Social security tax=$24.80
  • Federal tax=$40.0

The Net income is therefore:-

Net Income=Paystub-Medical tax-Social security tax

Net Income= 400 - 5.80 - 24.80 - 40

Net Income= $329.40

In conclusion, the net income is $329.40.

Learn more about Net income, refer to the link:

brainly.com/question/20938437

6 0
2 years ago
How can you assist the ProServices team in serving Pro customers in your
horrorfan [7]

Answer:

<h2>ProServices Team and Pro Customers</h2>

Assisting the ProServices Team in serving Pro customers in my department.  Here I have assumed that my department manages and coordinates the relationship with Pro customers:

A. Pull orders for Pro customers in advance and have them ready to pick-up

B. Call Pro customers to maintain relationships and proactively seek out business

C. Monitor inventory levels to make sure key Pro items are in-stock

D. Price match other retailers to give Pro the best price

E. Identify pro customers and introduce them to the ProServices team​.

Explanation:

“Pro” customers are a group of independent contractors, repair remodelers, specialty tradesmen, property management, and facility maintenance professionals who are afflicted to an organization offering ProServices.  They are not the end customers.  Between my organization and the customers, they are middlemen and women who are organized by my ProServices organization to offer specialty services to the general public in a professional manner that  guarantees customer satisfaction and payment to the professionals for services rendered.  In doing this, the ProService organization charges the Pro customers a fixed fee, which is deducted from the payments made by the end-customers.

8 0
3 years ago
Willis Rusch recently purchased a 5-pound box of treats for his dog. The total purchase price was $4.87.What was the price per p
krek1111 [17]

Answer

The cost of the one pound of the box is $0.974.

Explanation:

As given

Willis Rusch recently purchased a 5-pound box of treats for his dog.

The total purchase price was $4.87 .

i.e

Cost of 5- pound box = $4.87

Thus

Price\ per\ pound = \frac{Total\ cost\ of\ 5\ pound\ box}{Total\ box}

Putting the values in the above

Price\ per\ pound = \frac{\$ 4.87}{5}

                                     = $ 0.974

Therefore the cost of the one pound of the bos is $0.974.

8 0
3 years ago
True or False: Victoria's Secret, with its low-priced holiday discounts, exemplifies a firm pursuing cost-leadership; while Wal-
Alexeev081 [22]

Answer:

False.

Explanation:

The Victoria's part is true she is pursuing cost leadership by keeping it's price low although the Walmart's example is not related to differentiation strategy of competitive advantage. Because keeping mix of products is not differentiation, it's not unique.

  • Porter suggested 4 strategies and he believed that by using one of these strategies companies can gain <em>competitive advantage. </em>

The 4 strategies for competitive advantage:

  1. Cost Focus.
  2. Cost leadership.
  3. Differentiation Focus.
  4. Differentiation Leadership.

6 0
3 years ago
Read 2 more answers
Your firm can make a product in-house for $11.50 per unit using new production equipment which would cost $30,000. Your firm cou
Nikolay [14]

Answer:

The indifference point is 5,895 units

Explanation:

Giving the following information:

In-house:

Unitary variable cost= $11.5

Fixed cost= 30,000

Buy:

Unitary variable cost= $16.25

Fixed cost= 2,000

<u>To calculate the indifference point, we need to establish the total cost formulas for each option:</u>

In-house:

Total cost= 30,000 + 11.5x

x= number of units

Buy:

Total cost= 2,000 + 16.25x

x= number of untis

<u>Now, we equal both formulas and isolate x:</u>

30,000 + 11.5x = 2,000 + 16.25x

28,000 = 4.75x

5,895 = x

The indifference point is 5,895 units

7 0
3 years ago
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