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Zigmanuir [339]
3 years ago
13

Dakota Company had net sales (at retail) of $260,000.

Business
1 answer:
disa [49]3 years ago
8 0

Answer:

$35,860  

Explanation:

The computation of the ending inventory using the retail inventory method is shown below

Particulars                      Cost          Retail

Opening Inventory(A)   $63,800    $128,400

Purchases(B)                 $115,060    $196,800

Goods available

C=(A-B)                         $178,860     $325,200

Cost ratio

($178,860 ÷ $325,200 × 100) 55%  

Sales at retail (D)                            $260,000

End, Inventory at Retail                     $65,200

($325,200 - $260,000)

End, Inventory at Cost    $35,860  

($65,200 × 55%)

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Torch Industries can issue perpetual preferred stock at a price of $58.50 a share. The stock would pay a constant annual dividen
Snezhnost [94]

Answer:

11.96%

Explanation:

Calculation for Torch Industries company's cost of preferred stock,

Using this formula

Cost of preferred stock = Dividend / Stock Price * 100

Where:

Dividend =$7.00

Stock Price = $58,50

Hence,

= $7 / $58.50 * 100

= 11.96%

Therefore the company's cost of preferred stock will be 11.96%

3 0
3 years ago
Alzania produces and consumes​ 500,000 tons of cotton during a year. Reports indicate that​ Alzania's neighbor, which also emplo
Rama09 [41]

Answer:

The answer is: E) workers in Alzania have higher productivity due to better education and training.

Explanation:

Alzania and its neighbor both produce cotton and they both have the same amount of workers in the production of cotton. If Alzania is able to produce more cotton (or any type of product) using the same amount of resources (in this case labor) than its neighbor, we can conclude that Alzania does have an absolute advantage in that industry.

This absolute advantage exists because Alzania's workers are more productive than their neighbor's workers.

For example, lets say both countries have 5,000 cotton workers. Alzania produces 100 tons of cotton per worker, while its neighbor only produces 80 tons of cotton per worker. That means Alzania's workers are more productive, and labor usually gains productivity through education or training.

4 0
3 years ago
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in it
Marina86 [1]

Answer:

The cost of units transferred out during the month was:$ 99980

Explanation:

Mundes Corporation

Current Costs Added

Units Transferred  Costs $ 90480

Materials =8700 * $ 4.7= $ 40890

Conversion= 8700* $5.70= $ 49590

Costs from Preceding Department (WIP beginning Inventory)= $ 9500

Total Costs= Costs Added + Costs from Preceding Department

                  = $ 90480+ $ 9500= $ 99980

The Costs of units transferred out is $ 99980

The current costs are added to the preceding costs to get the total costs of the units transferred out.

7 0
2 years ago
Which of the following best describes a trial balance?
Lubov Fominskaja [6]

Answer:

A

Explanation:

In the accounting process extracting a trial balance is the final step.

8 0
2 years ago
Suppose Joe contracts with Marvin to frame out a shop at Joe's ranch for $10,000. During the framing Marvin discovers the costs
Marina CMI [18]

Answer:

unenforceable;

preexisting duty

Explanation:

Preexisting Duty Doctrine

This is simply regarded as when an individual is already under an obligation to do something. It simply states that the rules and guidelines under contract law that shows that if a party to a contract is under a pre-existing duty to perform, then no second thought (consideration) is taken for the modification of the contract. Modification is then voidable.

3 Types of Legal Duties

1.  Public Legal Duties such ad the duty of a police officer to protect lives and properties.

2.  Contractual Legal Duties such as unperformed, preexisting contractual promises etc.

3.  Private Legal Duties such as the duty to follow the law.

Unenforceable Contracts

This is regarded as a contract that cannot be enforced/given consideration or effect by the court of law etc  unless they are settled and corrected according to law.

Kinds of unenforceable contracts

1.) Those entered into in the name of another by one without, or acting in excess of rights or authority;

2.) Those that do not comply with the Statute of Frauds etc.

8 0
2 years ago
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