A loaf of bread cost $0.18 in 1955 and the CPI was 26.8. The CPI in 2013 was 233.

Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sol

disa [49]

Answer:

Explanation:

Date Unit Unit cost Total Goods sold Cost Total

May 1 28 9 252 28 9 252

May 15 26 10 260 26 10 260

May 24 39 11 429 26 11 286

Total 93 941 80

1) Weighted average unit cost = 941/93 = $10.118

FIFO method

2)Ending inventory (93-80)*11 =$ 143

FIFO method assumes that the first set of inventory are the first to be sold

LIFO method

LIFO assumes that the last set of inventory are the first to be sold

Goods Sold Cost Total

39 11 429

26 10 260

15 9 135

Ending Inventory = (93-80)*9 = $117

Average Cost Method

Ending Inventory = 13 * 10.118 =$131.534

5 0

3 years ago

The purchase of new car is included in: investment expenditure consumption expenditure on services consumption expenditure on no

dimaraw [331]

Answer:

Consumption expenditure on durable goods

Explanation:

Consumption expenditure includes expenditure on goods which are used for final consumption by households. This can be further classified into,

i) Expenditure on durable goods that is goods that can be used over a longer life span such as cars, furniture, refrigerator, etc

ii) Expenditure on non-durable goods that are goods that have a short-life span and thus must be stored for a longer time such as food, clothing, etc

iii) Expenditure on services such as banking, insurance, traveling, etc

Thus, purchase of a new car is included in consumption expenditure on durable goods.

3 0

3 years ago

Which structure would you be most likely to choose if your company wanted to give its sales people a predictable paycheck and al

tangare [24]

<span>The pay structure that would be used in this model is salary plus commission. Commission is a percentage of total sales so the more sales are made by an employee the more they make. The salary also gives them a regular amount of pay when things don't go well for the month, but the commission pushes them to continue to do their best.</span>

7 0

3 years ago

Read 2 more answers

Nervous Norman holds 70% of his assets in cash, earning 0%, and 30% of his assets in an insured savings account, earning 2%. The

elena-14-01-66 [18.8K]

Answer: 0.6%

Explanation:

The expected return is a weighted average of the returns of the assets invested in.

70% is invested in cash which earns 0%

30% is in a savings account earning 2%

Expected return = (70% * 0%) + (30% * 2%)

= 0% + 0.6%

= 0.6%

6 0

3 years ago

Andrews Company manufactures a line of office chairs. Each chair takes $12 of direct materials and uses 1.9 direct labor hours a

Andrej [43]

Answer and Explanation:

The preparation of the cost of goods sold budget is presented below:

Direct material ($12 × 20,000 chairs) $240,000

Direct labor ($16 × 1.9 × 20,000 chairs) $608,000

Variable overhead rate ($1.20 × 1.9 × 20,000 chairs) $45,600

Fixed overhead rate ($1.30 × 1.9 × 20,000 chairs) $49,400

Cost of goods manufactured $943,000

Add: opening inventory $0

Less: ending inventory (610 chairs × ($12 + ($16 × 1.9) + ($1.20 × 1.9) + ($1.30 × 1.9) -$41,278.70

Cost of goods sold $901,721.3

5 0

3 years ago