3. Who creates budget resolutions?

The following lots of Commodity Z were available for sale during the year.

quester [9]

Answer:

The year end closing inventory is $1256

Explanation:

The LIFO or Last In First Out method of inventory valuation follows that the latest or last purchased inventory will be the one that is sold first. Thus, under this method, the inventory that is purchased at start will be the one that will be left at the end and will form up the ending inventory.

The ending inventory of 24 units means that these units will comprise of inventory from the beginning of the period.

Thus, out of these 24 units, 8 units will be from the beginning inventory and the remaining from the first purchase (24 - 8 = 16).

The cost of ending inventory will be,

8 units at $49 per unit = $392

16 units at $54 per unit = $864

The total amount of closing inventory is = 392 + 864 = $1256

5 0

3 years ago

Acme published a story about paul and as a result paul sued acme for damage to his reputation, emotional distress, and punitive

ivolga24 [154]

All of the benefits for non-personal injury cases must be reported as gross income for tax purposes. Since defamation isn't a personal injury claim, all of the award must be reported and is subject to taxation.

7 0

4 years ago

Read 2 more answers

If the price of the common stock should decline by 50 percent, would the price of the convertible bond decline by the same perce

kondaur [170]

If the price of the common stock declines by 50 percent, the price of the convertible bond will also decline by the same percentage

If the stock price falls, the short seller profits by buying the stock at the lower price closing out the trade. Convertible bonds tend to offer a lower coupon rate or rate of return in exchange for the value of the option to convert the bond into common stock.

Thus, if the price of a convertible bond will move in tandem with the price of the common stock, so if the stock price declines, the convertible bond price will follow suit.

Hence, convertible bonds typically carry lower interest rates payments.

To learn more about convertible bond here:

brainly.com/question/17173968

#SPJ4

7 0

2 years ago

Question 35 Unsaved Which of the following is an advantage of increasing your market share? Question 35 options:

Gnesinka [82]

Which of the following is an advantage of increasing your market share? C. Building your reputation When you have a good product, quantity and value are set at a rate that is important to the consumer, they are more likely to purchase your product. When the product meets their expectations, this set a good foundation to build the company's reputation on.

3 0

3 years ago

A company uses a process cost accounting system. The following information is available regarding direct labor for the current y

Serhud [2]

Question:

A company uses a process cost accounting system and the weighted average method for inventory costs. The following information is available regarding direct labor for the current year:

goods in process, January 1 5,500 units 80% complete

goods in process December 31 8,800 units, 40 complete

units completed and transferred 46,900 units

to finished goods

direct labor costs during the year $266,300

(a) Calculate the equivalent units of production for direct labor for the year.

(b) Calculate the average cost per equivalent unit for direct labor (round to the nearest cent).

Answer:

Total equivalent unit= 41,040 units

Cost per equivalent units=$ 6.48

Explanation:

Equivalent units

Item Units Equivalent unit

Transferred out 46900× 80% = 37,520

Closing inventory 8,800 × 40% = 3,520

Total equivalent unit 41,040

Cost per equivalent units

Cost per equivalent units = Total labour cost/ total equivalent unit

= $266,300 / 41,040 units =$ 6.5

Cost per equivalent units=$ 6.5

5 0

3 years ago

3. Who creates budget resolutions?​

3. Who creates budget resolutions?