1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SVEN [57.7K]
3 years ago
9

Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sol

d. Date Explanation Units Unit Cost Total Cost May 1 Inventory 34 $9 $306 15 Purchase 26 10 260 24 Purchase 40 11 440 Total 100 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $Enter the Weighted-average unit cost in dollars eTextbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount
Business
1 answer:
Stella [2.4K]3 years ago
3 0

Answer:

The average cost will be "$201". The further explanation is given below.

Explanation:

<u>At May 31,                              FIFO               LIFO                Average cost</u>

<u>The ending inventory </u>             $220               $180                    $201

Going to end Inventory Computation together under Quarterly inventory management system will be:  

At $11 = $220

  • FIFO = 20 Units

At $9 = $180

  • LIFO = 20 Units
  • Average Cost = 20 Units  

$10.06 = $201.2 i.e $201.

You might be interested in
Country a is characterized by tightly knit social groups and it places importance on belonging to​ organizations, families, and
eduard
<span>Country is characterized by tightly knit social groups and it places importance on belonging to​ organizations, families, and other​ groups, it has​ collectivism.
</span>In cultures in which collectivism predominates, group decisions are valued and accepted.
<span>In individualism on the other hand, the primary concern is for themselves and their families.</span>
4 0
3 years ago
Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $130,300 Advertising e
Misha Larkins [42]

Answer and Explanation:

The computation is shown below

a. The cost of goods manufactured is

Materials used in product $130,300

Labor costs of assembly-line workers 116,100

Depreciation on plant 62,500

Property taxes on plant 24,300

Factory supplies used 34,000

Work in process inventory at January 1 $14,400

Less: Work in process inventory at december 1 -$17,600

Cost of goods manufactured $364,000

b. The cost of goods sold is

= Opening finished goods + cost of goods manufactured - ending finished goods

= $61,100 + $364,000 - $48,500

= $376,600

8 0
3 years ago
Products are winnowed out as they make their way down the path from conception to consumption, a process called ________.
Brilliant_brown [7]

Answer: cultural selection

Explanation:

Products are winnowed out as they make their way down the path from conception to consumption, a process called cultural selection.

Cultural selection theory is a theory about how certain things spread in the society, such as an art, a religious ritual etc. Due to innovation and other criteria, products will be winnowed out.

8 0
3 years ago
You are asked to recommend whether a firm should make or purchase product A. The following are data concerning the two options.
Alexxandr [17]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

For the purchase​ option:

Buying price= ​$22 per unit.

For the make​ option:

Weekly rental payment of ​$30,800

The firm also has to hire five operators to help make product A. Each operator works eight hours per​ day, five days per week at the rate of ​$14 per hour.

The material cost for the make option is ​$15 per unit of product A.

A) We need to find the number of units that makes the unitary fixed costs= $7

Weekly rental= 30800

Direct labor= ($14*8 hours*5workes)*5 days= 2800

Total fixed costs= $33,600

Unitary fixed costs= total fixed costs/ Q

7=33600/Q

Q= 4800 units

B) Now Q= 6600

Buy= 6600*22= $145,200

Make= 6600*15 + 33600= $132,600

3 0
3 years ago
Frederick Company has two service departments (Cafeteria Services &amp; Maintenance). Frederick has two production departments (
Alja [10]

Answer:

Maintenance total cost: 325,000

Cost Allocated to Packagin from Maintenance 162,500

Explanation:

\left[\begin{array}{ccccc}&Maintenance&Cafeteria&Assembly&Packaging\\Employees&4&&8&8\\Direct \: Cost&270,000&275,000&&\\Allocate C&55,000&-275,000&&\\Subtotal&325,000&&110,000&110,000\\Allocate M&-325,0004&-15,760&-162,500&-162,500\\Total&&&272,500&272,500\\\end{array}\right]

We will divide the cafeteria cost by the sum of employees of the department and maintenance.

4+8+8 = 20

275,000/20 = 13,750

Then we multiply this by each department employees and add them to their cost.

Maintenance total cost after adding cafeteria is 325,000

Then we do the same, we divide this amount for the emplyees of the processsing department:

8 + 8 = 16

325,000/16 =20,325.5

Then we multiply by 8 employees: 162,500

Maintenance total cost: 325,000

Cost Allocated to Packagin from Maintenance: 162,500

5 0
3 years ago
Other questions:
  • What are some risks of adding a new product?
    15·1 answer
  • Based on the following passage, what force can you infer is responsible for causing an implosion if not pressure?
    8·2 answers
  • On January 8, the end of the first weekly pay period of the year, Regis Company’s payroll register showed that its employees ear
    10·1 answer
  • Suppose the demand curve for a product is given by Q = 11 - 2P + 3Ps Where P is the price of the product and Ps is the price of
    13·1 answer
  • Gilberto Company currently manufactures 40,000 units per year of one of its crucial parts. Variable costs are $1.60 per unit, fi
    7·1 answer
  • La Tortilla is the only producer of tortillas in Santa Teresa. The firm produces 10,000 tortillas each day and has the capacity
    8·1 answer
  • Which examples demonstrate common qualifications for Security and Protective Services careers? Check all that apply.
    12·2 answers
  • An unconfined aquifer with a head of 120 ft (from the bottom of the aquifer) was evaluated using a pumping test. After the head
    12·1 answer
  • What is yall favorite song minez is mood swings by pop smoke
    15·2 answers
  • Differences between productive and service orientated profession​
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!