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Alex17521 [72]
4 years ago
6

At May 1, 2020, Sheridan Company had beginning inventory consisting of 190 units with a unit cost of $7.30. During May, the comp

any purchased inventory as follows: 720 units at $7.30 590 units at $5.80 The company sold 1030 units during the month for $14 per unit. Sheridan uses the average cost method. The average cost per unit for May is
Business
1 answer:
s2008m [1.1K]4 years ago
7 0

Answer:

$6.71 per unit

Explanation:

The computation of average cost method is given below:-

Beginning Inventory

= 190 units × $7.30

= $1,387

Purchases

= 720 units × $7.30

= $5,256

Purchases

= 590 units × $5.80

= 3,422

Total units = 1,500

Total cost = $10,065

So, average cost per unit

Total cost ÷ Total number of units

= $10,065 ÷ 1,500

= $6.71 per unit

Therefore, to calculate the average cost per unit for May we simply divide 10,065 from 1,500

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USSOCOM is focused on organizing, training, equipping and providing highly capable __________ special operations forces to geogr
ozzi

Answer:

The correct word for the blank space is: military.

Explanation:

The U.S. Special Operations Command or USSOCOM's primary mission is to organize train and equip military special operation forces (SOF) and provide such powers to commanders of the Geographical Combatant under whose operational control they operate.

7 0
3 years ago
Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The in
topjm [15]

Complete Question:

Akram owns a small farm.He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbors farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares.

Requirement. Identity two types of short-term finance Akram could use when the farm income is low

Answer with its Explanation:

The two types of short term finances are as under:

  1. Merchant Cash Advance: It is also known as supplier payables but in fact it is actually an cash advance by supplier to promote its sales by allowing credit for a short term. It doesn't what level of profits the company is earning, the supplier always allow small period for payment of its goods.
  2. Invoice Financing: It helps the company borrow money from money lenders (mostly banks) against the debtors accounts. This is usually a short term loan with option to expand both time and money if the company has proven to growth and better credit control. The invoice finacing doesn't effect the borrowings in short term if the business profits are low because for qualifying for such loan the company must have better cash postion. Though higher profits might help in securing the short term loan by using invoice financing but cash generation is the key requirement here.
4 0
3 years ago
the market price of northern mills stock has been relatively volatile and you think this volatility will continue for a couple m
taurus [48]

The  answer is $120.

Explanation: The computation of the net profit or loss is shown below: Before that we have to determine the following calculations

Net Profit from call option is = (Gain from Exercising Call Option - Option Premium paid) × Size of the Contract

= (($47 - $42) - $2.60) × 100 Shares

= $240

Net Loss from put option is

= (Option Premium paid) × Size of the Contract

= $1.20 × 100 Share

= $120

So, the net profit is  = Net Profit from Call Option - Net loss from Put Option= $240 - $120

= $120

To learn more about  net profit, click here.

brainly.com/question/22024991

#SPJ4

5 0
1 year ago
Which of the following statements about marketing is true? Multiple Choice A marketing exchange focuses on making a single trans
klemol [59]

Answer:

Marketing only occurs when two or more parties are willing to exchange one thing for another thing.

Explanation:

It is understood that marketing only occurs when two or more parties are willing to exchange one thing for another thing.

5 0
3 years ago
Corruption, Inc., uses process costing, they have overstated the percentage of work completed with respect to conversion cost on
forsale [732]

Answer:

(1) understated

(2) understaded

(3) unchanged

Explanation:

The amount of equivalent units will be higher as the ending inventory of work in process will be above of what it should be.

As we have more equivalent untis the cost per equivalent unit will be lower:

\frac{cost}{equivalent \:units}

So both, conversion cost and total cost per equivalent untis will e lower than it should be as are getting divided over a larger amount.

the physical amount of units worked during the month and those which are complete will not be affected as the percentage of completion is an accounting tool to calculate the cost not to count the amount of units in possession

5 0
3 years ago
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