Answer:
Instructions are listed below.
Explanation:
Giving the following information:
For specific identification, ending inventory consists of 390 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.
We weren't provided with enough information to answer the requirement. But, I can give you the answer using simulated numbers.
<u>Under specific identification, the company calculates the ending inventory and cost of goods sold with the exact units that were sold or remain in inventory.</u>
For example:
Beginning inventoy= $15 per unit
Jan. 30: $17 per unit
Jan. 20: $16 per unit
Ending inventory= 370*17 + 5*16 + 15*15= $6,595
Answer:
See below
Explanation:
Given the above, we will calculate first the standard hours allowed for actual work using the formula below
Standard hours allowed for actual work
= Total number of applications × Number of standard
= 2.500 × 8 hours × 10
= 2,000 hours
Therefore, the labor efficiency variance
= (Actual hours worked - Standard hours allowed for actual work) × Standard rate
= (1,920 - 2,000 ) × $15
= -$1,200
The labor efficiency variance is $1,200 favorable
Answer:
$4,560
Explanation:
Credit Sales $456,000
Bad Debt Expense (456,000*1%) $4,560
It is assumed that bad debt expense of 1% is allowed on gross credit sales rather than net credit sales.
Answer:
Increase demand
Explanation:
Tastes and preferences of the consumers is one of the determinant of demand that would shift the demand curve rightwards or leftwards.
Now, if there is an increase in the taste of the consumers for a good then as a result this would increase the market demand for that particular good. This would also shifts the demand curve of that good rightwards.
If there is a positive change in the taste of the consumers for a good then they will buy more quantity of that good.
Answer:
$10,503.59
Explanation:
This question requires us to find how much you have to deposit today if:
Fv = 18,000
Time = 9 years
PV= fv/(1 + i)^n
N = 9 X 12 = 108
I/y = 0.5%
PV = $18,000 / 1.005^108
= $10,503.59
Therefore what you have to deposit today is $10,503.59