Simply stated, the manner in which you and other employees treat your customers and each other as you deliver your company's pro
1 answer:
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Answer:
Cost of goods sold as per average cost method = $92,458.5
Explanation:
As for the information provided as follows:
Opening Inventory 265 units @ $153 each = $40,545
Purchase 465 units @ $173 each = $80,445
Purchase 165 units @ $213 each = $35,145
Total data 895 units = $156,135
Average cost per unit = $156,135/895 = $174.45
In average cost method simple average is performed, whereas in weighted average weights are assigned.
Sale is of 530 units
Cost of goods sold as per average cost method = $174.45 530 = $92,458.5
Answer:
Gross Profit in Year 1 = $200000
so correct option is B. $200,000
Explanation:
given data
historical preservation project = $2,500,000
time = 2 year
estimated costs = $2,000,000
Actual costs Years 1 = $800,000
Actual costs Years 2 = $900,000
to find out
what amount of gross profit would Superior report in Year 1
solution
we find here first Percentage Completion that is express as
Percentage Completion = Cost to date ÷ Estimated Total Cost .............1
put her value we get
Percentage Completion =
Percentage Completion = 40%
and
Revenue Recognized will be here
Revenue Recognized = Percentage Completion × Total estimated Revenue ...............2
Revenue Recognized = 40 % × 25000000
Revenue Recognized = 1000,0000
so here Gross Profit in Year 1 will be
Gross Profit in Year 1 = Revenue Recognized - Cost to date of year 1 ..............3
Gross Profit in Year 1 = 1000,0000 - v800000
Gross Profit in Year 1 = $200000
so correct option is B. $200,000