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algol13
3 years ago
8

Niles Co. has the following data related to an item of inventory: Inventory, March 1 110 units @ $1.10 Purchase, March 7 210 uni

ts @ $2.10 Purchase, March 16 110 units @ $2.70 Inventory, March 31 160 units The value assigned to ending inventory if Niles uses "weighted average" is_______________.
Business
1 answer:
pantera1 [17]3 years ago
7 0

Answer:

The value assigned to ending inventory if Niles uses "weighted average" is $320 ( to 160 units @ $2 )

Explanation:                  Number of units    Price per unit    Total

Purchases on March 1 =         110                     $1.10               $1,21

Purchases March 7      =         210                    $2.10              $441

Purchases March 16    =         110                     $2.70              $297  

Inventory on March 31 =        160                    $2.00             $320

Weighted Average Inventory value = Accumulated Value / Total Number of units

Weighted Average Inventory value = ( 121 + 441 + 297 ) / ( 110 + 210 + 110 )

Weighted Average Inventory value = 1.997674419 = $2.00

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Scott is a manager at a large electronics company. His primary role within the organization is to plan for the "people needs" of
Alla [95]

Answer: Human resource

Explanation:

Human resources management consist of the employees that are responsible for the recruitment, screening, conducting interviews and placing workers in an organization.

Human resources also handle employee relations, benefits, payroll, and training. It is the role of the human resources department to plan, coordinate and direct the administrative functions of a company. With the example mentioned in the question, Scott is involved in human resource management.

7 0
3 years ago
Wolfe Company had the following beginning inventory and purchases during 2018 Date Transaction Number of units Unit Cost 1/1 Beg
forsale [732]

Answer:

Wolfe Company

The amount of:

                                      LIFO         FIFO    Weighted Average

Ending inventory      $50,500    $65,100        $58,005

Cost of goods sold  $113,200   $98,600       $105,698

Explanation:

a) Data and Calculations:

Date Transaction             Number of units   Unit Cost   Cost Value

1/1     Beginning inventory             2,000        $22.00    $44,000

4/12  Purchase No. 1                      2,300        $26.00      59,800

7/11   Purchase No. 2                        800        $28.00      22,400

10/5 Purchase No. 3                      1,250        $30.00      37,500

Total inventory available              6,350                       $163,700

Wolfe sold                                      4,100

Ending Inventory                          2,250

LIFO

Ending Inventory = $50,500 (250 * $26 + 2,000 * $22)

Cost of goods sold:

4/12  Purchase No. 1                      2,050        $26.00      53,300

7/11   Purchase No. 2                        800        $28.00      22,400

10/5 Purchase No. 3                      1,250        $30.00      37,500

Total cost of goods sold =            4,100                        $113,200

FIFO:

Ending Inventory = Cost of goods available for sale - Cost of goods sold

= $65,100 ($163,700 - $98,600)

Cost of goods sold:

1/1     Beginning inventory             2,000        $22.00    $44,000

4/12  Purchase No. 1                      2,100        $26.00        54,600

Total cost of goods sold = $98,600

Weighted average:

Weighted average cost = $25.78 ($163,700/6,350)

Ending inventory = $58,005 (2,250 * $25.78)

Cost of goods sold = $105,698 (4,100 * $25.78)

4 0
3 years ago
Cindy Medavoy will invest $7,990 a year for 19 years in a fund that will earn 10% annual interest. Click here to view factor tab
Rudik [331]

Answer:

The correct answer for future value if first payment occur today is $449,645.24 and if first payment occur at the end of year is $408,761.13.

Explanation:

According to the scenario, the given data are as follows:

Payment (pmt) = $7,990

Rate of interest (r) = 10%

Time (n) = 19 years

So, we can calculate the future value by using following formula:

Future Value ( if payment occurs today) :

FV = Pmt  (((1+r)^n   - 1) ÷ r) x (1+r)

By putting the value:

= $7,990 ((( 1+ 0.10)^19   -1) ÷ .10) × ( 1 + 0.10)

= $7,990 ( 51.16) × ( 1.10)

= $449,645.24

Future Value ( if payment occurs at the end of year):

FV = Pmt x ((1+r)^n   -1)) ÷ r)

= $7,990 ((1 + 0.10)^19  -1) ÷ 0.10)

= $7,990 × 51.16

= $408,761.13

4 0
3 years ago
A manufacturer is contemplating a switch from buying to producing a certain item. Setup cost would be the same as ordering cost.
Luden [163]

Answer:

c. 30 percent lower.

Explanation:

Since the manufacturer is contemplating a switch from buying to producing a certain item while setup cost would be the same as ordering cost, the production rate would be about double the usage rate.

Compared to the Economic Order Quantity (EOQ), the maximum inventory would be approximately 30 percent lower under Economic Production Quantity (EPQ), and higher under EOQ.

5 0
3 years ago
Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 14 years to maturity, make semiann
beks73 [17]

Answer: -18.80% for bond J, -15.46% for bond K

Explanation:

If interest rates suddenly rise by 2 percent, the percentage price change of bond J is -18.80% while the percentage price change of bond K is -15.46%

The calculation is provided below

8 0
3 years ago
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