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sasho [114]
2 years ago
15

A company purchased 120 units for $ 20 each on January 31. It purchased 170 units for $ 30 each on February 28. It sold 170 unit

s for $ 60 each from March 1 through December 31. If the company uses the firstminus​in, firstminusout inventory costing​ method, what is the amount of Cost of Goods Sold on the income statement for the year ending December​ 31? (Assume that the company uses a perpetual inventory​ system.)
Business
1 answer:
Zolol [24]2 years ago
4 0

Answer:

$2,730

Explanation:

The computation of the Cost of Goods Sold is shown below:-

Cost of goods sold =  Purchase × Each Unit + (Sold units - Each unit) × Purchase units

= 120 units × $20 + 110 units × $30

= $2,400 + $330

= $2,730

Therefore we have calculated the cost of goods sold from First in the first-out method by applying the above formula.

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In the course of creating an effective business message, excellent business thinkers are most likely to
Irina18 [472]

Answer:

a) make well-reasoned conclusions and solutions ; & b) begin jotting down a rough draft right away to capture their ideas.

Explanation:

Effective Business message should be - complete, clear, concise, concrete, correct, courteous, coherent.

Rough draft is good for brainstorming & initial preliminary creation stage of business message. After having a bunch of ideas : its important to well arrange them in a coherent, clear way & giving complete, concise structure. This implies better understanding of conclusions, solutions.

4 0
2 years ago
McMahon Inc. reported the following on the company's statement of cash flows in 2016 and 2015:
podryga [215]

Answer:

$137,200; $103,600

Explanation:

In 2015:

Free cash flow:

= Net cash flow from operating activity - Capital expenditure

= $294,000 - (70% × $224,000)

= $294,000 - $156,800

= $137,200

In 2016:

Free cash flow:

= Net cash flow from operating activity - Capital expenditure

= $280,000 - (70% × $252,000)

= $280,000 - $176,400

= $103,600

3 0
3 years ago
Your pharmaceutical firm is seeking to open up new international markets by partnering with various local distributors. The diff
Afina-wow [57]

Answer:

Case 1 = $420 million

Case 2 = $280 million

Case 3 = $350 million

Explanation:

As per the data given in the question,

Annual value by one distributor = $420 million per year

Annual value by two distributor = $560 million per year

Case 1)

The marginal value of first distributor is more than second  

So when negotiating the value, it is = $560 million - $420 million = $140 million

and this value would be distribute between both. so each will get = $140 million / 2 = $70 million

and you would expect to capture $420 million of this deal

Case 2)

As distributors are run by government, so negotiation will be done with both the distributor at same time and margin would be $560 million and you would be grabbed = $560 million ÷ 2 = $280 million

Case 3)

In this case marginal amount of contact = $560 million - $140 million = $420 million

and half of it = $420 million ÷ 2 = $ 210 million, which is the amount to be offered  

and you would expect to grab the remaining amount = $560 million - $210 million  

= $350 million

7 0
3 years ago
Farr Industries Inc. manufactures only one product. For the year ended December 31, the contribution margin increased by $560,00
vitfil [10]

Answer:

Farr Industries Inc

            Contribution Margin Analysis

Planned Contribution Margin                                                   $5,200,000.00

Effect of change in sales:

Sales quantity factor                                                                                            (120,000-130,000)x$220                      ($2,200,000)

Unit price factor                                                                                                                ($250 - $220)x120,000                         $3,600,000

Total effect of change in sales                                                 $1,400,000.00

<em>Effect of changes in variable cost of goods sold: </em>

Variable cost quantity factor                                                                                        (130,000-120,000)x $165                    $1,650,000.00

Unit cost factor                                                                                                                   ($180-165) x 120,000                          ($1,800,000.00)

Total effect of changes in                                                                                           variable cost of goods sold                                                      ($150,000.00)

<em>Effect of changes in variable selling and administrative expenses: </em>

Variable cost quantity factor                                                                                                  (130,000-120,000)x $15                   $150,000.00

Unit cost factor                                                                                                   ($22-$15)x 120,000 units                 ($840,000.00)

Total effect of changes in

variable selling and administrative expenses                           ($690,000.00)

Actual contribution margin                                                       $5,760,000.00

I disagree with the President, seeing as though we see that the majority of the decrease in the variable cost of the products sold is due to the variable cost factor and also to the variable sales and administrative expenses because the company made additional sales efforts to stay competitive at increased prices

4 0
3 years ago
An ad for Maybelline age-minimizing makeup in Ladies' Home Journal magazine featured actress Gigi Hadid and offered readers a $2
marysya [2.9K]

Answer:

Home Journal magazine

Explanation:

In communication, medium is what the message is conveyed on. It is the system or channel through which a message is transmitted from the sender to the recipient. The modern medium used in advertising is in the electronic format and includes the internet, telephone, and other electronic devices.

Tradition medium channels are television, radio, and print media such as newspapers and magazines.  The ad for Maybelline age-minimizing appears in a magazine. The  Ladies' Home Journal magazine is the medium for the ad.

6 0
3 years ago
Read 2 more answers
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