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lubasha [3.4K]
3 years ago
15

Marigold Company's inventory records show the following data: Units Unit Cost Inventory, January 1 9200 $8.00 Purchases: June 18

9300 7.60 November 8 5100 6.00 A physical inventory on December 31 shows 5100 units on hand. Under the FIFO method, the December 31 inventory is
Business
2 answers:
wariber [46]3 years ago
7 0

Answer:

$30,600

Explanation:

Under FIFO method, units that are purchased first are sold first.

Given:

Beginning inventory = 9,200 units @$8

Purchases in June = 9,300 units @7.6

Purchases in November = 5,100 units @6

Closing inventory as on December 31 was 5,100 units.

Since the company follows FIFO method of inventory valuation, beginning and purchases made in June are sold first. Remaining 5,100 units purchased in November are not sold as they are left unsold at the time of closing.

So December 31 inventory is computed as 5,100 × 6 = $30,600

DerKrebs [107]3 years ago
7 0

Answer:

FIFO method, December 31 inventory value is $30,600

Explanation:

Inventory, January 1    9,200 @ $8.00 = $73,600

Purchases: June 18     9300 @ $7.60 = $70680

November 8               5100 @ $6.00 = $30,600

there are 5100 unit on hand as per physical inventory till December 31

Using FIFO, the cost assigned to these units should be most recent cost, $6 per unit, from the November 8 purchase.

Under FIFO method, December 31 inventory value is

= 5100 unit \times $6 per unit =  $30,600

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The monopsonist's marginal factor (rource) cost curve for labor is
konstantin123 [22]

The company must: hike the factor prices to hire additional employees, a monopolist's marginal factor cost curve is above its labor supply curve.

<h3>What is a marginal factor cost?</h3>

Marginal factor cost is the increment in the additional  factor of production that leads to the increase in the one-unit amount.

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Thus, its labor supply curve.

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8 0
2 years ago
1. Explain why businesses pay overtime rates rather than employ more workers on the lower standard wage rate?
Alex Ar [27]

Answer:

Executive Summary

The labor market continues to recover, but a stubbornly high rate of underemployment persists as more than five million Americans are working part-time for economic reasons (U.S. BLS 2015a; 2015b). Not only are many of this type of underemployed worker, by definition, scheduled for fewer hours, days, or weeks than they prefer to be working, the daily timing of their work schedules can often be irregular or unpredictable. This both constrains consumer spending and complicates the daily work lives of such workers, particularly those navigating through nonwork responsibilities such as caregiving. This variability of work hours contributes to income instability and thus, adversely affects not only household consumption but general macroeconomic performance.

The plight of employees with unstable work schedules is demonstrated here with new findings, using General Social Survey (GSS) data. These findings (as well as key findings from other research) are highlighted below.

Irregular scheduling

About 10 percent of the workforce is assigned to irregular and on-call work shift times and this figure is likely low.1 Add to this the roughly 7 percent of the employed who work split or rotating shifts and there are about 17 percent of the workforce with unstable work shift schedules.

Six percent of hourly workers, 8 percent of salaried workers, and 30 percent of those paid on some other basis work irregular or on-call shifts. Adding in split or rotating shifts, the shares working unstable work schedules are 16 percent (hourly), 12 percent (salaried) and 36 percent (other).

By income level, the lowest income workers face the most irregular work schedules.

Workers paid under $22,500 per year are more likely to work on irregular schedules than workers in the income bracket above that (workers in the latter bracket who are salaried would be just above the current salary minimum threshold for assured FLSA overtime coverage).

Irregular shift work is associated with working longer weekly hours.

By occupation type, about 15 percent of sales and related occupations have irregular or on-call schedules.

By industry, irregular scheduling is most prevalent in agriculture, personal services, business/repair services, entertainment/recreation, finance/insurance/real estate, retail trade, and transportation communications.

Estimates of the proportion of the workforce with “variable hours,” in terms of not being able to specify a “usual” workweek (according to Current Population Survey, not GSS data), are remarkably consistent—almost 10 percent of workers overall. Being part-time more than doubled the likelihood of having hours that vary weekly. The share with variable workweeks also is higher in certain occupations and industries, such as sales, and lower in others, such as professional, managerial, and administrative support. Also, the prevalence is reduced for union members, married workers, government employees, whites, men, and workers with a higher level of education.

Nearly half of workers (45 percent) surveyed by the International Social Survey Program said that their “employer decides” their work schedule. Only 15 percent perceived that they were “free to decide” their work schedule. The remaining 40 percent felt they could “decide within limits.” This conforms to another study of “early career” workers; just under half of hourly early career workers surveyed in the National Longitudinal Study of Youth said they have their daily start and end times of work decided entirely by their employer, without their input.

Irregular scheduling and outcomes

Employees who work irregular shift times, in contrast with those with more standard, regular shift times, experience greater work-family conflict, and sometimes experience greater work stress.

Less than 11 percent of workers on “regular” work schedules report “often” experiencing work-family conflict in contrast with as many as 26 percent of irregular/on

8 0
3 years ago
Read 2 more answers
Zara sources basic products such as white t-shirts from low cost countries because demand is predictable. For trendy products fo
nata0808 [166]

Answer:

<u>efficiency</u>, <u>flexibility.</u>

Explanation:

For the predictable demand, Zara strives for <u>efficiency</u>, and for the unpredictable demand, Zara hopes to achieve <u>flexibility</u><u>.</u>

Zara seeks efficiency for the predictable demand because this type of demand can be programmed and controlled internally, that is, the items of this demand will be used for the production of other items, therefore it is necessary to have an estimate of the future demand, so that can forecast resources to supply demand efficiently.

In the case of unpredictable demand, Zara seeks flexibility, as this demand works according to market and consumption trends.

7 0
3 years ago
Which ratios help assess the firm’s ability to meet cash needs as they arise?
Tom [10]

Answer:

Option A Current Ratio

Explanation:

The reason is that current ratio gives information from which source of finance the working capital is funded from. If the answer is below 1 then the short term liabilities are used to finance the short term assets. This also tells whether or not the company possesses enough cash and cash equivalents to fund its future cash needs by comparing its result with past data and the industry average. So the right option is option A.

6 0
4 years ago
Company X has 2 million shares of common stock outstanding with a book value of $2 per share. The stock trades for $3 per share.
gladu [14]

Answer:

23.08%

Explanation:

The computation of the debt ratio is shown below:

Debt amount

= 2 million × 0.90

= 1.80 million

And,

Equity amount

= 2 million × 3

= 6 million

Now

debt ratio = debt amount  ÷ (amount of debt + amount of equity)

= 1.80 million ÷ ( 6 million + 1.80 million)

= 23.08%

4 0
3 years ago
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