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3 years ago

Which of these contains data that identifies a product?

Business

1 answer:

zmey [24]3 years ago

6 0

Answer:

A. UPC

Explanation:

A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.

Basically, a universal product code (UPC) comprises of two (2) main parts;

A machine-readable barcode that contains sets of vertical black lines.

A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.

The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.

Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.

<em>Hence, a universal product code (UPC) contains data that identifies a product. </em>

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ABC Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales. Calculate

Free_Kalibri [48]

The cost of goods sold in dollars for the first sale made on Jan. 10, using FIFO, is <u>$141</u>.

<h3>What is the FIFO method?</h3>

FIFO means First-in, First-out.

The FIFO inventory method assumes that the Jan. 10 sales of 11 units were made from goods in stock on January 1 and the purchase on Jan. 5.

Using FIFO under the perpetual inventory system, the cost of goods sold on Jan. 10 is calculated as follows:

<h3>Question Completion Data and Calculations:</h3>

Jan 1 Beginning Inventory 8 at $12= $96

Jan 5 Purchase 12 at $15= $180

Jan 25 Purchase 10 at $18= $180

Jan 10 Sale 11 units x $50 each

Jan 30 Sale 3 units x $55 each

Cost of goods sold on Jan. 10 using FIFO = 141 (8 x $12 + 3 x $15)

Thus, the cost of goods sold in dollars for the first sale made on Jan. 10, using FIFO, is <u>$141</u>.

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8 0

1 year ago

Russell Corporation sold a parcel of land valued at $440,000. Its basis in the land was $294,800. For the land, Russell received

WITCHER [35]

Answer:

Please see attachment

Explanation:

Please see attachment

6 0

3 years ago

The income statements for four consecutive years for Colca Company reflected the following summarized amounts:

Alla [95]

CORRECTED INCOME STATEMENTS

2011 ($) 2012 ($) 2013 ($) 2014 ($)

Sales revenue 60,000 63,000 65,000 68,000

COGS (39,000) (41,000) (46,000) (46,000)

Gross profit 21,000 22,000 19,000 22,000

Expenses (16,000) (17,000) (17,000) (19,000)

Pretax Income 5,000 5,000 2,000 3,000

Income Tax Expense (30%) (1,500) (1,500) (600) (900)

Net Income 3,500 3,500 1,400 2,100

An income statement is a financial statement detailing a company's income and expenses during a reporting period. Also known as the Income Statement (P&L), it is typically produced quarterly or annually. An income statement shows the financial performance of a company over a period of time.

There are four major degrees. (1) Balance Sheet. (2) Income Statement. (3) Cash Flow Statement. (4) Statement of Shareholders' Equity.

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5 0

1 year ago

West Coast Growers incurs the following costs during the year related to the creation of a new disease-resistant tomato plant. S

posledela

Answer:

Explanation:

Salaries R&D $540,000

Depreciation on equipment 145,000

Utilities incurred 7,000

Payment for development work 13,000

R&D expense 705,000

*Paten filing and related legal costs are recorded to patent intangible asset account

5 0

3 years ago

Suppose Nationwide increases the insurance premium they charge for their auto policies by 12 percent. In response, the demand f

Ahat [919]

Answer:

0.794

Explanation:

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

Cross price elasticity of demand = percentage change in quantity demanded of good A / percentage change in price of good B

Midpoint change in quantity demanded = change in quantity demanded / average of both demands

change in quantity demanded = 3300 - 3000 = 300

average of both demands = (3300 + 3000 ) / 2 = 3150

300/3150 = 0.095238 = 9.5238%

Cross price elasticity = 9.5238% / 12% = 0.794

If cross price elasticity of demand is positive, it means that the goods are substitute goods.

If the cross-price elasticity is negative, it means that the goods are complementary goods.

6 0

3 years ago