Answer:
$55 and $100
Explanation:
The computation of the ending inventory is shown below:
Under the LIFO method
= Ending inventory units × purchase price
where,
Ending inventory units is
= 10 units + 20 units - 25 units
= 5 units
So, the ending inventory is
= 5 units × $11
= $55
Under the Average cost method
The average cost per unit is
= (Beginning inventory units × price per unit + purchase inventory units × price per unit) ÷ (Beginning inventory units + purchase inventory units)
= (10 units × $10 + 20 units × $25) ÷ (10 units + 20 units)
= ($100 + $500) ÷ (30 units)
= ($600) ÷ (30 units)
= $20 per unit
The ending inventory units is
= 10 units + 20 units - 25 units
= 5 units
So, the ending inventory is
= 5 units × $20
= $100
Answer:
The contract is voidable.
Explanation:
The survey discovered a misrepresentation in the consideration (the size of the land), so that means that Maurice can choose to void it or not. A voidable contract is a contract that can be voided. In this case, the injured party is only Maurice, so only he can void it, or choose not to. They might negotiate a discount or something, it is up to him.
Answer:
C) Should be reported at $210,000
Explanation:
The computation of the gross profit in case of the multi-step income statement is presented below:
Mortenson Company
Multi step income statement
Sales $600,000
Less: Cost of goods sold -$390,000
Gross profit $210,000
After deducting the cost of goods sold from the sales we can get the gross profit
Answer:
Explanation:
A.)
The Basic EPS can be determined by using the formula:








∴


B.)
The calculations for the numerator and denominator effect are:

Convertible on preferred stock 

Convertible Bond 
= 2.80
Stock options 
= 0
Determination of the numerator & denominator effect for each convertible securities shown above are:
Numerator (N) Denominator (D) Dilution index = N/D
Net income $2,600,000
Less: Preferred $300000
Dividend
<em>Common stock A</em>
<em>Net income </em>$2,300,000<em> </em> 800,000 2.875
Add: Stock
Options (B) 0 25000
Total (C) = (A + B) $2300000 825000 2.788
Add: Convertible
Bonds (D) 428000 10000
Total (E) = (C+D) $2328000 835000 2.787
Add: Convertible
Preferred Stock (F) $300000 250000
Total (E) + (F) $2628000 1085000 2.422
C.)
Particulars Dilutive Index Rank (most dilutive is 1.)
Stock Option 2.788 1
Convertible Bonds 2.787 3
Preferred Stock 2.422 2
D.)
From above, the convertibles are diluted EPS (DEPS)
÷



Answer:
Using job costing, the 2018 budgeted manufacturing overhead rate is C. $6,00 per machine-hour
Explanation:
Manufacturing Overheads are absorbed in the production process at their Budgeted Rate multiplied by the Actual Activity during the period.
Budgeted Rate. = Total Budgeted Overhead Cost / Total Budgeted Activity
Total Budgeted Activity is the allocation base used to allocate the Overhead Cost. Franklin Manufacturing uses machine-hours as the only overhead cost-allocation base.
Thus the Budgeted Rate = $300,000/ 50,000
= $ 6.00 per machine hour