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arsen [322]
3 years ago
7

Marigold Corp. has the following inventory data: July 1 Beginning Inventory 31 units at $16 $496 7 Purchases 109 units at $16 17

44 22 Purchases 16 units at $17 272 $2512 A physical count of merchandise inventory on July 30 reveals that there are 39 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is _____.
A. $1872.
B. $1833.
C. $1888.
D. $1849.
Business
1 answer:
Mrac [35]3 years ago
7 0

Answer:

The correct answer is A.

Explanation:

Giving the following information:

July 1: Beginning Inventory 31 units at $16 $496

July 7: Purchases 109 units at $16 $1744

July 22: Purchases 16 units at $17 $272

A physical count of merchandise inventory on July 30 reveals that there are 39 units on hand.

FIFO (first-in, first-out)

Units sold= (31 + 109 + 16) - 39= 117

COGS= 31*16 + 86*16= $1,872

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olga_2 [115]

Answer: continuance commitment

Explanation:

The above scenario explains a continuance commitment. This occurs when a worker remains with a particular organization after he or she looks at both the benefits and costs of leaving and sees that the cost of leaving the organization outweighs the benefits.

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5 0
3 years ago
Thyme, Inc. owns 16,000 of Sage Co.'s 20,000 outstanding common shares. The carrying value of Sage's equity is $500,000. Sage su
DedPeter [7]

Answer:

The total non controlling interest after the additional shares are issued is equal to $252,000.

Explanation:

Before the issue Sage co's had 20,000 shares with total equity value of $500,000. After the issue of 5000 shares worth $200,000, the total number of shares and equity would be -

Total number of shares = 25,000 ( 20,0000 + 5000 )

Total equity value          = $700,000

Now Thyme inc owns 16,000 number of shares , which means that minority holds 9000 number of shares . Now the price per share would be =

       TOTAL EQUITY / NUMBER OF SHARES

         $700,000 / 25,000

=        $28

NON CONTROLLING INTEREST = Minority shares x Price per shares

                                                      = 9000 x $28

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8 0
3 years ago
The Mixing Department of Complete Foods had 62,000 equivalent units of materials for October. Of the 62,000 ​units, 38,000 units
Art [367]

Answer:

Materials

62,000 equivalent units

Conversion

42,800 Equivalent untis

Cost of finished Goods

38,000 x (.75 + .55) = 38,000 x 1.3 = $49,400

WIP

24,000 x .75 = 18,000

4,800 x .55 =    2,640

Total WIP         20,640

Explanation:

Equivalent Units

38,000 complete

20% of 24,000 WIP  = 4,800

Equivalent Units CC = 42,800

x .55 CC = 23540

Materials

62,000 x .75 = $46,500

6 0
3 years ago
С
lozanna [386]

Answer:

I think C is correct answer

8 0
2 years ago
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