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3 years ago

Olympus Climbers Company has the following inventory data:

Business

1 answer:

babymother [125]3 years ago

6 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

July 1: Beginning inventory - 30 units at $19

July 7: Purchases - 105 units at $20

July 22: Purchases - 15 units at $22

A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand.

First, we need to determine the number of units sold:

Units sold= total units - ending inventory in units

Units sold= 150 - 48= 102 units

Under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the price of the firsts units incorporated into inventory.

COGS= 30*19 + 72*20= $2,010

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A factory machine was purchased for $393000 on January 1, 2018. It was estimated that it would have a $74000 salvage value at th

sweet [91]

Answer:

Annual depreciation= $41,470

Explanation:

Giving the following information:

Purchasing price= $393,000

Salvage value= $74,000

The machine would be run 30000 hours in the 5 years. The company ran the machine for 3900 actual hours in 2018.

To calculate the depreciation expense using the units of activity method, we need to use the following formula on each year:

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

Annual depreciation= [(393,000 - 74,000)/30,000]*3,900

Annual depreciation= $41,470

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3 years ago

When calculating loan payments, to show a down payment toward the purchase of an asset, you must adjust the __________ argument

Paha777 [63]

When calculating loan payments, to show a down payment toward the purchase of an asset, you must adjust the pv argument of the financial function.

What is pv argument?

The following arguments are used with the PV function rate: The interest rate per compounding period (necessary argument). The monthly interest rate on a loan with a 12% yearly interest rate and monthly payments would be 12% divided by 12 or 1%. The rate would then be 1%.

What is financial function?

In a firm, the functions used to obtain and manage financial resources in order to make a profit are referred to as the finance function. It generates pertinent financial resources and information, enhancing the effectiveness of other corporate operations and activities such as planning and decision-making.

Learn more about financial function: brainly.com/question/13169279

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1 year ago

Arianna is responsible for the cleaning, pet, and paper products in the grocery store where she works. she considers herself an

Naya [18.7K]

Arianna is engaged in the category management of the store. Category management is involved in the retailing and the purchasing concept by which it ranges the products that are being purchased or the products that are being sold into categories that are being broken down in discrete groups that are in similar or products that are related.

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2 years ago

Read 2 more answers

Green Valley Steel had sales of $1,000,000 and collections of $760,000, leaving a balance of $240,000 in accounts receivable as

sammy [17]

Answer: d

Explanation:

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2 years ago

During a recession, a number of workers have their hours reduced by their employers. All else the same, the unemployment rate wi

devlian [24]

Incomplete question. I answered from a general economic standpoint.

Answer:

stay the same; decrease

Explanation:

Remember, in this scenario, it wasn't as though the mentioned workers lost their jobs, they only had their hours reduced by their employers; so they are not unemployed. This, therefore, implies that the unemployment rate will stay the same.

The labor force participation rate in simple words refers to the percentage of those who are currently employed or looking for a job within an economy. If the working hours are reduced, it may diminish the zeal among the workforce of an economy to work or find work because they may perceive they''ll earn less.

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2 years ago