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scoray [572]
4 years ago
15

Kingbird, Inc. has the following inventory data: July 1 Beginning inventory 34 units at $22 $748 7 Purchases 120 units at $23 27

60 22 Purchases 17 units at $25 425 $3933 A physical count of merchandise inventory on July 30 reveals that there are 55 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is ____
(A) $1375.
(B) $1231.
(C) $1299.
(D) $1265.
Business
1 answer:
pychu [463]4 years ago
6 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

July 1: Beginning inventory 34 units at $22

July 7: Purchases 120 units at $23

July 22: Purchases 17 units at $25

A physical count of merchandise inventory on July 30 reveals that there are 55 units on hand.

FIFO (first-in, first-out)

Inventory= 17*25 + 38*23= $1,299

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olga2289 [7]

Answer:

undervalued assets an liabilities by 50,000

Explanation:

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will have the following mistake:

Liabilities are undervalued by 50,000

Cash wll be undervalued by 50,000

As the note payable is not recorded neither the cash receipts from the loan.

Because this transaction is missing, we are not doing a correct representation of reality. This account will be undervalued.

4 0
4 years ago
Forty Winks Corporation manufactures night stands. The production budget shows that Forty Winks Corporation plans to produce 1 c
suter [353]

Answer:

Budgeted direct labor cost= $10,150

Explanation:

Giving the following information:

Production:

March= 1,400 units

April= 1,500 units

Each nightstand requires 0.25 direct labor hours in its production. Direct labor rate of $ 14.00 per direct labor hour.

To calculate the production budget cost for direct labor, we need to use the following formula:

Direct labor cost= total direct labor hours*direct labor rate

<u>March:</u>

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7 0
4 years ago
If I read 12 pages in 15 minutes how many pages while I read in two hours
N76 [4]

Answer:

96 pages in two hours

Explanation:

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3 0
3 years ago
Read 2 more answers
A can of soda costs $1.75 in the United States and 42 pesos in Mexico. Assume purchasing-power parity holds. The peso-dollar exc
dedylja [7]

Answer:

a. 24 pesos / dollar.

b. 48 pesos / dollar.

Explanation:

a. Peso dollar exchange rate = P peso / P dollar = 42 pesos / $1.75 = 24 pesos / dollar.

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3 years ago
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attashe74 [19]

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Advertising makes it possible for the public to be aware of the repositioning activities a company is carrying out.

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