Answer:
Option d Cost of goods sold $620; Ending inventory $180 is the correct answer.
Explanation:
Under the periodic FIFO or First In First Out of inventory valuation, we calculate the value of inventory available for sale and at the end of the period we calculate the cost of goods sold by taking the first purchased inventories to be the ones that are sold first.
Thus, under the FIFO method, the cost of goods sold comprises of the cost of inventories that were purchased first and the cost of ending inventory comprises of the cost of most recently purchased inventories.
Jan 1 Beginning Inventory ( 140 * 4) = 560
June 2 Purchase (80 * 3) = <u> 240</u>
Cost of goods available for sale = 800
On November 5, 160 units are sold. Out of these 160 units, under FIFO, 140 units are from the beginning inventory and the remaining 20 units from June purchases.
So, Cost of goods sold is,
COGS = 140 * 4 + 20 * 3
COGS = 620
Ending inventory = 800 - 620 = 180
Given:
<span>standards for direct materials in making a certain product are 20 pounds at $0.75 per pound. 56,000 units of product were made and the materials quantity variance was $30,000
30,000 / 0.75 per pounds = 40,000 pounds
The materials quantity variance of $30,000 infers that 40,000 pounds were used inefficiently.
56,000 units x 20 pounds = 1,120,000 pounds used
total pounds used: 1,120,000 + 40,000 = 1,160,000 pounds
The number of pounds of direct materials used during the period is 1,160,000 pounds.</span>
Answer: "structural unemployment".
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Answer:
It has no effect
Explanation:
M1 includes the currency and checking accounts. The bank account will decrease by 200 (cheking deposit) and increase currency by 200. So it will be the same as before the transactions.
The M1 money supply will not change as a result of this transaction.
In other words, M1 contains cash and near cash equivalent, this transaction do not increase or reduce these concepts.
Answer:
net income: $ 451,010
EPS: $ 6.32 per share
Explanation:
net sales 2,409,200
cost of good sold (1,464,600)
gross profit: 944,600
operating expenses:
selling expenses (284,000)
operating income 660,600
non operating:
interest revenue 38,100
interest expense (54,400)
non operating expense (16,300)
earning before taxes: 644,300
tax expense: 30% 193,260
net income 451,010
shares outstanding 71,390
Earning per share: 451,010/71,390 = 6,31755