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sasho [114]
3 years ago
11

Assumes ABC Company had 50 units in beginning Finished Goods Inventory and sold 1,213 units. Additional data includes: Units pro

duced 1,200 units Direct materials $12 per unit Direct labor 8 per unit Variable manufacturing overhead 2 per unit Fixed manufacturing overhead 7 per unit Using absorption costing, what is the dollar amount of ending Finished Goods Inventory?
Business
1 answer:
worty [1.4K]3 years ago
3 0

Answer:

Dollar amount of ending Finished Goods Inventory = $1,073

Explanation:

The first step is to calculate the cost per unit.

Using absorption costing, the cost of one unit is  

Cost per unit = direct materials + direct labor + variable manufacturing overhead + fixed manufacturing overhead per unit.

Cost = 12 + 8 +2 + 7\\Cost = 29

Now, the number of units left in inventory should be defined

Finished Goods Inventory (FGI) =  Beginning Finished Goods Inventory + Units produced - units sold

FGI = 50 +1200 - 1213\\FGI = 37

The dollar amount of ending Finished Goods Inventory is FGI multiplied by the cost per unit.

37*29 = 1,073

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Credit offered in the form of ____________ is most common in department and clothing stores and other high-volume outlets, where
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Answer:

retail charge cards

Explanation:

A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.

Hence, the use of credit cards by consumers broadens a small company's customer base.

This ultimately implies that, small businesses or companies who avail their customers the opportunity to pay using a credit card will increase the number of customers that would patronize them because they are typically buying the goods and services on credit.

Generally, there are three (3) main types of credit card and these includes;

I. Debit card.

II. Prepaid card.

III. Retail charge cards.

A retail charge card can be defined as a type of credit card commonly issued by retailers to their customers in order to avail the customers an ability to charge their goods and services to a specific amount that has been established prior to a purchase.

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5 0
2 years ago
For a given level of significance, if the sample size is increased, the power of the test will increase.
Andru [333]
The answer is True. You have more samples, the result is more accurate.
3 0
3 years ago
Aicpa auditing standards address the confirmation of accounts receivable for private company audits. what are the circumstances
alina1380 [7]

Answer:

Confirmation of accounts receivables is not required when the account information is immaterial.

An account is said to have immaterial information when the account doesn't reflect any important or relevant information that can affect the opinions or decisions of shareholders, potential investors or creditors of the company.

The auditors have the responsibility of deciding what information is relevant and important and what is immaterial

4 0
2 years ago
The common stock of the C.A.L.L. Corporation has been trading in a narrow range around $125 per share for months, and you believ
Fiesta28 [93]

Answer:

he price of a 6-month call option on C.A.L.L. stock is 15.27

Explanation:

The price of a 6-month call option on C.A.L.L. stock at an exercise price of $125 is computed as;

C+Xe^{rt}  = P + S

Where as,

C = Value of call,

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P = value of put ,

S = Stock price

Thus,

C + 125e^{-5} = 10.27 + 125

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2 years ago
The managers of Z-Cosmetics, after identifying key measurements, decided to set performance targets for their business. In order
riadik2000 [5.3K]

Answer:

The correct answer is b. Benchmarking .

Explanation:

Benchmarking is a system where some products or services and any other activity that stands out in another organization are taken as "references", in order to compare them with those carried out internally and to make improvements or adjustments to the processes. This process takes into account both leading activity or good practices, and determines to some extent levels of effectiveness that are achieved within an organization. Companies take this activity to determine their direction, emphasizing their internal situation and adapting the processes to achieve the best possible efficiency.

7 0
3 years ago
Read 2 more answers
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