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
iren2701 [21]
2 years ago
7

Raleigh Co. has the following products in its ending inventory. Compute the lower of cost or market total for inventory applied

separately to each product.
Jelly: Quantity: 150 Cost per unit: $2.00 Market per unit: 2.15 Jam: Quantity: 370 Cost per unit: $2.65 Market per unit: 2.50 Marmalade: Quantity: 260 Cost per unit: $3.10 Market per unit: 3.05

A. $2,040.50.

B. $2,086.50.

C. $2,018.00.

D. $2,109.00.

E. $2,053.50.
Business
1 answer:
Rom4ik [11]2 years ago
6 0

Answer:

C. $2,018.00.

Explanation:

The computation of the lower cost or market value is shown below:

For Jelly

= 150 units × $2 per unit

= $300

For Jam

= 370 units  $2.50

= $925

And, for Marmalade

= 260 units × $3.05

= $793

So, the total inventory is

= $300 + $925 + $793

= $2,018

It is come by multiplying the quantity of each one by its lower cost or market value per unit

You might be interested in
True or False: Wages in the auto manufacturing industry would be greater than those in the aircraft manufacturing industry.
miss Akunina [59]

Answer:

The statement is: False.

Explanation:

Wages in one industry or another will depend on the labor demand and the specialization required for the job. Auto manufacturing technician job positions are demanded in higher quantities than aircraft manufacturing mechanics. The reason is that aircraft traffic is not even close to the automobile traffic level. Thus, <em>as more auto technicians are requested, their wages tend to be lower</em>. Besides, <em>as fewer aircraft technicians are requested, their wages tend to be higher</em>.

3 0
3 years ago
Morgan Company's budgeted income statement reflects the following amounts:Sales Purchases ExpensesJanuary $ 120,000 $ 78,000 $ 2
Whitepunk [10]

Answer:

 e.$113,300                                          

Explanation:

Download xlsx
7 0
3 years ago
Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs
laiz [17]

Answer:

C. straight back chairs will be overcosted

Explanation:

Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs are made by hand. Miller Company uses a company-wide overhead rate that is based on direct labor hours to assign overhead costs to the two products. If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis:

A. rocking chairs will be undercosted

B. There should be no impact on unit cost  

C. straight back chairs will be overcosted

D. rocking chairs will be overcosted.

EXPLANATION

If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis then the straight back chairs will be overcosted<u> because the automation process directly implies that it no longer drives labor hours since it is no longer made by hand.</u>

Automated processes should use machine hours rather than labor hours, for the allocation of its overhead.

8 0
3 years ago
Read 2 more answers
Airline F leases all its aircraft under finance leases. Airline O leases all its aircraft under operating leases. Assuming that
Usimov [2.4K]

Answer: e. Airline O has less lease assets at the inception of the lease

Explanation:

With operating leases, the entity leasing the asset or the lessee, does not get the rights to ownership of the asset being leased but instead simply pay a fee or sort of rent for leasing the asset.

With a finance lease however, ownership is passed to the lessee for the lease period and the lessee would have to depreciate the asset and record it in its books.

Airline O will therefore not record any assets but Airline F will. This means that Airline F will have more assets than O because it had to record its assets but O did not.

5 0
3 years ago
Elc inc. is an electronic appliances manufacturer that has many strategic business units (sbus), among which, television and com
Sedbober [7]

Answer:

The answer is multi-divisional structure.

Explanation:

A company employing multi-divisional structure would usually function as a parent company that has many business units under it operating different business sectors. This is clearly the case of Elc Inc., since it both manufactures televisions and computers. The fact that both businesses share the same budget shows that the two business units are still operating in the same company.

4 0
3 years ago
Other questions:
  • Blue Company purchased 60 percent ownership of Kelly Corporation in 20X1. On May 10, 20X2, Kelly purchased inventory from Blue f
    10·1 answer
  • Sutton Pointers Corporation expects to begin operations on January 1, 2015; it will operate as a specialty sales company that se
    10·1 answer
  • J&amp;E Enterprisesi s considering and investment which produces no cash flows for the first year. In the second year, the cash
    7·1 answer
  • A farmer grows wheat, which she sells to a miller for $100. the miller turns the wheat into flour, which she sells to a baker fo
    13·1 answer
  • Matthew owns a warehouse that is used in business while Pamela owns land. Matthew exchanges the warehouse for the land, which wi
    15·1 answer
  • Your favorite photo can now be printed on your favorite credit card. You can design your own dresses online and have them sent t
    14·1 answer
  • 1) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic i
    12·1 answer
  • started with total assets of and total liabilities of . At the end of ​, total assets stood at and total liabilities were . Requ
    10·1 answer
  • Thomas Brothers is expected to pay a $0 50 per share dividend at the end of the year (i.s., D1=$0.50). The dividend is expected
    7·1 answer
  • A company is considering dropping a product line. What costs would be relevant to the decision? What costs would be irrelevant?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!