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Zarrin [17]
4 years ago
11

Sheffield has the following inventory information. July 1 Beginning Inventory 15 units at $20 $300 7 Purchases 65 units at $19 1

235 22 Purchases 5 units at $25 125 $1660 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is
Business
1 answer:
Goshia [24]4 years ago
8 0

Answer:

The amount allocated to cost of goods sold for July is $1,075

Explanation:

On July 31, there are 30 units on hand. Number of units the company sells in the month:

15+65+5-30 = 55 units

July 1 Beginning Inventory 15 units at $20 $300

July 7 Purchases 65 units at $19

July 22 Purchases 5 units at $25

Sheffield uses the LIFO inventory method. The LIFO is a method used to account value for inventory. Under the method, the last item of inventory purchased is the first one sold.

Cost of goods sold for July = 5 x $25 + 50 x $19 = $125 + $950 = $1,075

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Fillmore Industries is a vertically integrated firm with several divisions that operate as decentralized profit centers. Fillmor
Fittoniya [83]

Answer:

Fillmore Industries

Fillmore's Systems Division

1. Minimum and Maximum Transfer Prices:

                                PCB      Transistor

Minimum transfer

price                  $12.00      $3.45

Maximum transfer

price                  $12.09      $3.58

2. Yes. The Transistor Division can meet this price.  It can sell at $2.60 (Variable cost plus markup) by eliminating the fixed cost, which is not a relevant cost.

3. A transfer price of $11 reduces the profitability of the Transistor Division while it increases the profitability of the other division.  The transfer price should be a market-competitively determined price to encourage efficiency in the divisions.

Explanation:

a) Data and Calculations:

                                PCB      Transistor

Direct materials      1,85          0,40

Direct labor            4,20          0,90

Variable overhead 2,40          0,70

Fixed overhead     0,85          0,75

Total Cost              9,30          2,75

Marked up Price $12.09      $3.58

Minimum transfer

price                  $12.00      $3.45

Maximum transfer

price                  $12.09      $3.58

Market price       $12.00     $3.45

5 0
3 years ago
eaver Chocolate Co. expects to earn $3.50 per share during the current year, its expecteddividend payout ratio is 65%, its expec
Agata [3.3K]

Answer:

cost of equity  = 13.36  %

Explanation:

given data

earn = $3.50

ratio = 65%

growth rate = 6.0%

common stock currently sells = $32.50

flotation cost = 5%

to find out

cost of equity from new common stock

solution

we get here cost of equity from new common stock that is express as

cost of equity  = \frac{D1}{Po-(1-f)} + g   ...................1

here D1 is expected dividend  and Po is current price  and g is growth rate and f is flotation cost and

D1 = 3.50 × 0.65

so from equation 1 we get

cost of equity  = \frac{3.50*0.65}{32.50(1-0.05)} + 6%

cost of equity  = 0.1336

cost of equity  = 13.36  %

5 0
4 years ago
_____ provides the advertiser with useful guidelines for future advertising by evaluating the effectiveness of an individual ad
shutvik [7]

Marketing Strategists provide the advertiser with useful guidelines for future advertising by evaluating the effectiveness of an individual ad or an entire ad campaign after it runs.

Explanation:

Marketing strategists are professionals employed to check and see the validity of the advertising that is being run by the advertisers and check their effectiveness in the ground level.

The usual marketing strategists would come up with solutions for the advertising that are needed to reach out to the goals of the company and also formulate a plant hat they can follow as the advertiser then would make the ad for them.

7 0
4 years ago
Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to
gladu [14]

Answer:

OASDI maximum amount in any financial do change but for the year 2020, the OASDI limit is $137,700

if Carson is getting $2,700 each week

Carson will hit the OASDI limit in   ($137,700/$2,700) weeks = 51 weeks.

Explanation:

6 0
4 years ago
What is the food service term for the amount of money remaining from a sale after subtracting the sold itemâ s cost from its sel
Anestetic [448]

Answer:

<h2>The answer for this question is contribution margin or option 3 from the answer options or list.</h2>

Explanation:

  • In Business and Accounting, the contribution margin basically refers to the difference between the price of any product or service and the variable cost of production. Contribution margin for per unit of product or service also represents the additional profit of the firm or company based on its marginal variable cost or expense and the per unit product or service price.
  • The aggregate or overall contribution margin signifies the ability of any firm or seller to cover all its fixed cost or expenses and accumulate overall or total profit in business.
  • In this case, the the selling price of the food item or service represents its market price at which the consumers or buyers have purchased it and the sold item's cost denotes the variable cost of production.Hence, the difference the two phenomenon denotes the contribution margin in this case.
8 0
4 years ago
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