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Sergio [31]
3 years ago
10

The following information pertains to Julia & Company: March 1 Beginning inventory = 33 units @ $5.70 March 3 Purchased 14 u

nits @ 4.40 March 9 Sold 22 units @ 9.00 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Business
1 answer:
Viefleur [7K]3 years ago
8 0

Answer:

The cost of the 22 units sold is 107,20

Explanation:

LIFO Perpetual chart is attached.

It shows purchases, sales and balance of each period. To get the cost of goods sold we must see the sales column  

Units  Unit Cost        Total

14      $4,40             $61,60

8      $5,70            $45,60

Total=$61,60 +$45,60=107,20

Download xlsx
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Which of the following is NOT an advantage of budgeting?
Mama L [17]

Answer:

a.It provides organizational independence.

Explanation:

Budget is a statement of income and expenditure of a certain period. Budgets are useful for forecasting the operating activities and financial position of a business enterprise and it ensures good business practice because they plan for future.

Organizational independence is a state in which an organization is not vulnerable for personnel turnover. Independent Organizations are normally mon profits or non government organizations and they are defined to be a collection of people who to pursue a charitable goal be it local, national or global level. Budgeting is applicable on dependent organizations instead of independent Organizations.

7 0
3 years ago
An increase in input costs in the production of electric automobiles caused the price of electric automobiles to rise. Holding e
Tanzania [10]

Answer:

4. The demand for gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would increase.

Explanation:

Substitute goods are goods that can be used in place of each other.

If the price of electric automobiles rises, the automobile becomes more expensive for consumers. Consumers would reduce the quantity demanded of the electric automobile and shift its demand to gas powered automobiles.

As a result, the demand for gas automobiles increases and the equilibrium price would increase too.

I hope my answer helps you

8 0
3 years ago
"The nature and purpose of the public sector result in a unique organizational characteristics". Discuss
alex41 [277]

The correct answer to this open question is the following.

Although the question is incomplete because it does not provide the location, country, or any other further reference, we can say the following.

The nature and purpose of the public sector result in unique organizational characteristics, basically in the formation of bureaucracies that are a form of governmental and administrative organizations with many employees and hierarchies that more that improve management and operations, complicate it and make it slow due to the fact that the number of people working is numerous.

Experts say that this is not the more efficient and effective form of managing governmental offices. On the contrary, it is slow and inefficient.

3 0
3 years ago
Ferdinand’s employer will match 50% of his $250 monthly contributions to his 401(k). This means that Ferdinand’s employer will p
irina [24]

Answer and Explanation:

The computation of the given question is shown below:-

Total Contributions = Monthly contribution + Amount invested in Ferdinand’s 401(k)

= $250 + $125

= $375  

1. Future Value = PMT [((1 + r)n - 1) ÷ r

Future value = 375 × ((1 + 0.03 ÷ 12) × 12 × 40 - 1) ÷ (0.03 ÷ 12)

= $347,272

2. Ferdinand deposit = Given Amount × Total number of months in a year × Number of years

= $250 × 12 Months × 40 Years

= $120,000

3. The Amount put in by the employer = 50% of $250 ×Total number of months in a year × Number of years

= $125 × 12 Months × 40 Years

= $60,000

4. Interest = Future value - Ferdinand deposit - The Amount put in by the employer

= $347,272 - $120,000 - $60,000

= $167,272

We simply applied the above formulas

4 0
3 years ago
Majestic Homes' stock traditionally provides an 7% rate of return. The company just paid a $2 a year dividend which is expected
liberstina [14]

Answer:

$52

Explanation:

Data provided as per the question

Recent dividend = $2

Market rate of return = 8%

Growth Rate = 4%

(Its expected to increase so it will be (1 + 4%) = 1.4%

The computation of price is shown below:-

Price = Recent dividend × (1 + Growth rate ) ÷ (Cost of equity - Growth rate)

= ($2 × 1.04) ÷ (0.08 - 0.04)

= $2.08 ÷ 0.04

= $52

6 0
3 years ago
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