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Oliga [24]
3 years ago
11

Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sol

d.
Date Explanation Units Unit Cost Total Cost
May 1 Inventory 28 $9 $252
15 Purchase 26 10 260
24 Purchase 39 11 429
Total 93 $941
Required:
1. Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
2. Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.)
Business
1 answer:
disa [49]3 years ago
5 0

Answer:

Explanation:

Date     Unit    Unit cost    Total       Goods sold     Cost   Total

May 1    28         9                252              28                9       252

May 15  26        10               260              26                10      260

May 24 39         11                 429             26               11        286

Total      93                             941              80

1) Weighted average unit cost = 941/93 = $10.118

FIFO method

2)Ending inventory  (93-80)*11 =$ 143

FIFO method assumes that the first set of inventory are the first to be sold

LIFO method

LIFO assumes that the last set of inventory are the first to be sold

    Goods Sold       Cost     Total

            39                  11       429

            26                  10      260

             15                  9         135

Ending Inventory = (93-80)*9 = $117

Average Cost Method

Ending Inventory = 13 * 10.118 =$131.534

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Barbara is a producer in a monopoly industry. Her demand curve, total revenue curve, marginal revenue curve and total cost curve
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Answer:

22

Explanation:

A monopoly will maximize profit at MR = MC ( marginal revenue = marginal cost)72

MR =MC

40 -0.5 Q = 4

-0.5 Q = 4 - 40 = -36

Q = -36 / -0.5 = 72

The price of the her product

Q = 160 - 4P

4P =  160 - 72 = 88

P = 88 / 4 = 22

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7 0
2 years ago
Zhang Industries budgets production of 220 units in June and 230 units in July. Each unit requires 1.5 hours of direct labor. Th
Vaselesa [24]

Answer:

Budgeted direct labor cost for July = $4,278

Explanation:

Given:

Production in July = 230 units

Hours of direct labor  = 1.5 hours per unit

Direct Labor rate = $12.40 per hour

Indirect labor rate = $19.40 per hour.

Find:

Budgeted direct labor cost for July

Computation:

Budgeted direct labor cost for July = (Production in July)( Hours of direct labor)( Direct Labor rate)

Budgeted direct labor cost for July = (230)(1.5)(12.4)

Budgeted direct labor cost for July = $4,278

8 0
3 years ago
When preparing her monthly budget, marge kent has a total spending allowance of $4,600. each month she pays $1,200 in rent, $60
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<span>The rent, cable bill, and auto loan are fixed expenses that add up to $1500. $1500 divided by the $4600 total that she has is .326 so Margie spends about 33% of her budget on these fixed expenses. That is about one third of her total budget going to fixed expenses.</span>
8 0
3 years ago
A wire having a mass per unit length of 0.440 g/cm carries a 1.50-A current horizontally to the south. (a) What is the direction
coldgirl [10]

Answer:

B = 0.287  Tesla

According to thumb rule the direction of magnet is to the east.

Explanation:

F = BiL sin∅

note that F = mg

B = magnetic field

i = current

therefore,

mg = BiLsin∅

Make B subject of the formula

B = mg/iLsin∅

m/L = mass per length of the wire and it is given in gram per centimeter . It should be converted to kg per meter.

m/L = 0.440 g/cm

convert to kg/m = 0.440 × 0.001 kg × 100 m = 0.044  kg/m

B = 9.8 × 0.044 / sin 90 × 1.50 × 1

B = 0.4312/ 1.50

B = 0.28746666666

B = 0.287  Tesla

According to thumb rule the direction of magnet is to the east.

4 0
3 years ago
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