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Dominik [7]
3 years ago
14

Given the following data, what is cost of goods sold as determined by the FIFO method?

Business
1 answer:
Andrei [34K]3 years ago
8 0

Answer:

The answer is D. $1,830

Explanation:

FIFO means First in First out.

It is one of the inventory methods along with LIFO(Last in First out), average weighted cost and specific identification.

FIFO literally means the inventory bought first will be the first to be sold. Leaving the last inventories bought as the ending inventory.

In this question, Cost of Sales according to FIFO is:

250 units x $6 = $1,500

30 units at $11 = $330

Total =. $1,830

Therefore, the cost of sales under this method is $1,830

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Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $
attashe74 [19]

Answer:

$1,702 , $1,497, and $1,957

Explanation:

The computation of the total cost is shown below:

Particulars Strawberry Vanilla Chocolate

Direct Labor $766          $841  $1,141

Direct Material  $816          $516  $616

Overhead   $120               $140        $200

                        (60 × 2)           (70 × 2)   (100 ×2)

Total Cost   $1,702           $1,497    $1,957

We simply added the direct labor cost, direct material cost and the overhead cost so that the total cost could come

8 0
4 years ago
A decrease in the wage rate of pizza makers will cause a movement from Point B on supply curve Upper S 2 to ______________.
xenn [34]

Answer:

D. supply curve Upper S 3

Explanation:

8 0
3 years ago
Karen Rogers is a salesperson for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort
tatiyna

Answer:  

Prospecting

Explanation:

Prospecting selling process -

It is the very first step in the process of sales , according to this step ,

The step involves the detecting the potential of the customers .

The focus of prospecting is to develop the database of the customers and to communicate with them in order to convert the potential customers to the current customers .

Hence from the question ,

Karen Rogers is involved in the prospecting selling process .  

7 0
4 years ago
Identify the characteristics that have enabled Singapore to become one of the world’s most prosperous nations. Correct Answer(s)
ella [17]

Answer:

The answers are : Stable financial system; Strategic location; High literacy rate.

Explanation:

Singapore is a small island, highly populated country without much natural resources and little resources are paid to agricultural sector and energy sector thus lack of self-sufficiency in regard to water, food (due to limited land, lack of water supply and high labor cost). Currently, more than 40% of the country's water consumption are exported from Malaysia.

However, thanks to its strategic location lying in the center of the trade flow between the America, Europe, Middle East - Africa and Asia and the heart of Asia; its stable financial system which is one of the financial centers of Asia and the world due to its pretty open economy; its highly-educated citizens ( according to UNESCO Singapore literacy rate has been going up from nearly 83% in 1980 to more than 97% in 2018), the country is among one of the most prosperous countries in the world.

6 0
3 years ago
Skye Pye Corporation, a U.S. firm, wishes to participate, but limit its involvement, in Middle Eastern markets. Skye Pye empower
lutik1710 [3]

Answer:

An agency relationship

Explanation:

An agency relationship is one in which a party follows up for the benefit of and with the authority of another party. The head of a firm or organisation names or approves a specialist to follow up for the company benefit. Subsequently, she is answerable for the moves of the operator made in encouragement of her obligations or per the guidelines of the head. The specialist will connect with the third party on behalf of the company.

7 0
3 years ago
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