1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
inysia [295]
3 years ago
14

Edgar Co. determines from a physical inventory count taken on the last day of fiscal 20X7 that its LIFO-basis inventory of widge

ts is $16,000, with a replacement cost of $14,000. Edgar estimates that, after further processing costs of $8,000, the widgets could be sold as finished Widgetrons for $28,000. Edgar’s normal profit margin is 15% of sales. According to the lower of cost or market rule, what amount should Edgar report as widget inventory in its balance sheet for fiscal 20X7?
Business
1 answer:
Leto [7]3 years ago
8 0

Answer:

According to the lower of cost or market rule, what amount should Edgar report as widget inventory in its balance sheet for fiscal 20X7?

$15800

Explanation:

Sold price     28000

% profit margen 15%

profit margin         4200

Cost               23800

Procesing cost 8000

Inventory       15800

You might be interested in
Which of the following is true about the correlation between salary and job satisfaction? a. Financial perks and benefits always
Sindrei [870]
Can you dm me for the answer I’m not home rn I’m trying to help out a lot of people
4 0
3 years ago
Read 2 more answers
Pasadena Candle Inc. budgeted production of 730,000 candles for the January. Wax is required to produce a candle. Assume 11 ounc
Temka [501]

Answer:

696,325 Pounds

Explanation:

The computation of the direct material purchase budget is given below:

Here we assume that

one pound = 16 ounces

Now total wax needed is

= Production of Finished Goods × Pounds of wax needed for production

= 730,000 candles × 11 ÷ 16

= 501,875 pounds

Now

Total direct material purchased  = (Total Wax needed +  Ending Inventory, Jan.31 - opening inventory) × unit price

= (490,625 Pounds + 12,900 pounds - 17,400 pounds) × $1.40 per pound

= 696,325 Pounds

4 0
3 years ago
Which of the following methods does not help reduce marketing risks?
Nitella [24]

Answer: The following methods does not help reduce marketing risks: <u><em>Integrate vertically to insure a market or form a marketing alliance.</em></u>

Integrating a firm vertically and thereby forming a marketing alliance won't reduce the marketing risks for any organization.

<u><em>Therefore, the correct option in this case is (c).</em></u>

7 0
3 years ago
Which of the following choices is NOT a use for project plans in the workplace?
bixtya [17]
Out of the choices given, the choice that is NOT a use for project plans in the workplace is teacher lesson plans. The correct answer is B. 
6 0
3 years ago
TUMI brand briefcases are very expensive, high-end briefcases that are generally sold in specialty luggage shops. Which of the f
myrzilka [38]

Answer:

B. Executives

Explanation:

Option E is wrong. Students do not need high-end briefcases for school or other tasks.

Option D is incorrect. Postal workers do not need any expensive briefcases to carry postal service and letters.

Option C is false. Construction workers cannot afford expensive briefcases.

Option A is not correct. Police officers have not necessary to have those briefcases.

Option B is correct. Executives often need high-end briefcases to keep essential things with them. They can also afford expensive bags.

7 0
3 years ago
Other questions:
  • Approximately what percentage of the jobs in the united states do small businesses provide?
    12·1 answer
  • Calculate the simple interest you would receive in five years on a savings account that earns 7.5% annual interest. your beginni
    14·2 answers
  • The managers at Speed Automobile Inc. want to diversify the business by acquiring a consumer electronics company. This acquisiti
    14·1 answer
  • Every decision you make in a computer program involves evaluating one or more _____ expression
    11·1 answer
  • A seasonal index for a monthly series is about to be calculated on the basis of three years' accumulation of data. The three pre
    10·1 answer
  • Let's cost a job. Here is some data. What is the total cost on this job? Direct Materials $1,393 Direct Labor hours incurred to
    8·1 answer
  • Jameson Corporation was organized on May 1. The following events occurred during the first month.
    7·1 answer
  • Beacon Industries,Inc. thinking about having one of its products manufactured by a subcontractor.Currently , the cost of manufac
    6·1 answer
  • Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manu
    11·1 answer
  • Plz help<br><br>explain why the scene below fail to meet basic workshop safety standards.​
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!