Answer:
$1,380
Explanation:
The computation of the average cost per unit is shown below:
= (Beginning inventory units × price per unit + first purchase inventory units × price per unit + second purchase inventory units × price per unit + third purchase inventory units × price per unit) ÷ (Beginning inventory units + first purchase inventory units + second purchase inventory units + third purchase inventory units)
= (5 units × $61 + 15 units × $63 + 10 units × $74 + 10 units × $77) ÷ (5 units + 15 units + 10 units + 10 units)
= ($305 + $945 + $740 + $770 ) ÷ (40 units)
= ($2,760 units) ÷ (40 units)
= $69
Now the cost of goods sold equals to
= (Inventory units × average cost per unit )
= 20 units × $69 per unit
= $1,380
Since there are total 40 units out of which 20 units are sold, so the remaining units i.e 20 units would be consider as cost of goods sold
Answer:
b. the budget is adjusted to the actual activity for the period.
Explanation:
A flexible budget performance report is a comparison between actual costs and revenues, and the budgeted income and expenses at the end of a period, based on actual performance. The report shows the difference between the actual results and the estimated numbers. Management uses the report to determine if the company's results were in line with management expectations.
The performance report is prepared at the end of a financial period. It helps the management analyse any major variances between the actual performance at the estimated numbers at the beginning of a period. The report helps the management identify the companies strong areas, and the sections that need improvements.
Answer:
Empathy is important because it awakens our senses as designers.
