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3 years ago

A company uses the periodic inventory system and had the following activity during the current monthly period.

Business

1 answer:

Alekssandra [29.7K]3 years ago

3 0

Answer:

The answer is: $3,289

Explanation:

Date Units Unit price Inventory Average cost

Purchases

Nov. 1 103 units $20 per unit $2,060 $20 per unit

Nov. 5 103 units $22 per unit $4,326 $21 per unit

Nov. 8 53 units $23 per unit $5,545 $21.41 per unit

Nov. 19 30 units $25 per unit $6,295 $21.78 per unit

TOTAL 289 units $21.78 per unit $6,295 $21.78 per unit

Sales

Nov. 16 -138 units $21.78 per unit $3,006 $21.78 per unit

Ending inventory

Nov. 30 151 units $21.78 per unit $3,289 $21.78 per unit

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Answer:

$27,900

Explanation:

The computation of adjusted cash balance is shown below:-

Adjusted cash balance = Balance at May 31 - bank service fees - NSF check

= $28,525 - $25 - $600

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Therefore for computing the adjusted cash balance we simply deduct the bank service fee and NSF check from balance at may 31

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3 years ago

The nominal exchange rate is .80 euros per dollar and the real exchange rate is 4/3. Which of the following prices for a particu

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Answer:

option (C) $5 in the U.S. and 3 euros in Italy

Explanation:

Data provided in the question:

Nominal exchange rate, E = 0.80 euros per dollar

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Now,

Real exchange rate = [ Price of good in US ] ÷ [ Price of Good in Italy ]

= $\frac{EPU}{PI}$

Here,

PU = Price of US in dollars

PI = Price of Italy in Euros

Thus,

Real exchange in rate

$\frac{4}{3}$ = $\frac{0.8PU}{PI}$

$\frac{PU}{PI}$ = $\frac{5}{3}$

hence,

we get

Ratio of Price of a good in US to Price of a Good in Italy = $\frac{5}{3}$

we can say $5 in the U.S. and 3 euros in Italy

option (C) $5 in the U.S. and 3 euros in Italy

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3 years ago

A restaurant worker earns a set amount per hour from their employer. They also receive tips from customers. Their earnings most

icang [17]

The restaurant worker's earnings closely resemble that of an employee working on commission plus salary.

<h3>What is commission?</h3>

Commission is additional compensation that's earned based on job performance.

It is an extra payment that is accrued during the course of work and are paid in addition to a base salary.

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3 years ago

Which of the following is a challenge that could come with buying an existing business

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Answer:

Explanation:

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3 years ago

The following cost data for the year just ended pertain to Heartstrings, Inc., a greeting card manufacturer: Service department

Afina-wow [57]

Answer:

Explanation:

Giving the following information:

Service department costs= $ 100,000: Period

Direct labor: wages 485,000: Product - DL

Direct labor: fringe benefits 96,000: Product - DL

Indirect labor: fringe benefits 31,000: Product - MOH

Fringe benefits for production supervisor 10,000: Product - MOH

Total overtime premiums paid 55,000: Product - DL

Cost of idle time: production employees 40,000: Product - DL

Administrative costs 150,000: Period

Rental of office space for sales personnel 15,000: Period

Sales commissions 6,000: Period

Product promotion costs 10,000: Period

Direct material used 2,100,000: Product - DM

Advertising expense 97,000: Period

Depreciation on factory building 116,000: Product - MOH

Cost of finished-goods inventory at year-end 115,000

Indirect labor: wages 141,000: Product - MOH

Production supervisor’s salary $ 46,000: Product - MOH

First, we will classify each cost as product/ period, and Direct Material (DM), Direct Labor (DL) and manufacturing overhead (MOH).

A) Prime costs= direct material + direct labor

Prime costs= 2,100,000 + (485,000 + 96,000 + 55,000 + 40,000)

Prime costs= 2,100,00 + 676000= 2,776,000

B) Manufacturing overhead= 31000 + 10000 + 116000 + 141000 + 46000= $344,000

C) conversion cost= direct labor + manufacturing overhead

CC= 676000 + 344000= 1,020,000

D) Product costs= DM + DL + MOH= 2100000+676000+344000= $3,120,000

E) Period cost= 100000 + 150000 + 15000 + 6000 + 10000 + 97000= $378,000

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3 years ago