1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Virty [35]
3 years ago
13

Stallman Company took a physical inventory on December 31 and determined that goods costing $275,260 were on hand. Not included

in the physical count were $31,540 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $28,940 of goods sold to Alvarez Company for $39,800, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Stallman report as its December 31 inventory?
Business
1 answer:
Tpy6a [65]3 years ago
5 0

Answer:

Inventory at year-end: 344,000

Explanation:

The inventory should add the purchased goods from Pelzer as the possesion is transfer at shipping point.

The sales units to Alvarez should also be included as teh transfer is not complete yet. The term on this transaction are at destination.

Total inventory in transit: 28,940 + 39,800 = 68,740‬

on hand:   $   275,260

in-transit:  $<u>     68, 740  </u>

Total:         $  344,000

You might be interested in
Which of the following statements is true?-direct costs can easily be traced to a cost object; indirect costs cannot be-both dir
Andru [333]

Answer: Statement A

Explanation: Direct cost are those costs which are variable in nature and can be allocated to the total units of output produced, these are easily traceable. Examples - direct material, direct labor and piece rate wages etc.

Indirect costs are those cost which cannot be allocated to the number of units produced on individual basis unlike direct cost these costs can be either fixed or variable in nature. Examples - rent expenses, administrative expenses.

.

From the above explanation we can conclude that statement A is correct.

5 0
3 years ago
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: S
Y_Kistochka [10]

Answer:

Product cost= $75

Explanation:

Giving the following information:

Variable costs per unit:

Direct materials $17

Direct labor $47

Variable manufacturing overhead $11

Under the variable costing method, the unitary product cost is calculated using the direct material, direct labor, and unitary variable overhead:

Product cost= 17 + 47 + 11= $75

6 0
3 years ago
15. If, in the economy described, government spending increases by $200 million, what will be the associated change in equilibri
iris [78.8K]

Answer:

$200 (million)

Explanation:

If the government spending increases by $200 million, then associated change in equilibrium income will be $ 200 million, assuming that Marginal Propensity to Consume (MPC) is 1

6 0
3 years ago
If government spending occurs, there will be a(n) _______ of private-sector investors, described as a(n) _______ of that spendin
MrRa [10]

If government spending occurs, there will be a(n)crowding out of private-sector investors, described as a(n) opportunity cost of that spending.

<h3>What is government spending?</h3>

This is the term that is used to refer to all forms of expenditures that the government of a place may embark on.

Spending is an expansionary policy that helps to stimulate the government of a place.

Read more on government spending here:

brainly.com/question/25125137

#SPJ1

3 0
1 year ago
Formal face-to-face meeting of leaders from different countries to discuss important issues
zhannawk [14.2K]
Good like fashioned meet and greet
8 0
3 years ago
Other questions:
  • Over a decade ago, survivor premiered as a nighttime reality tv show during the summer season when tv ratings are normally low a
    6·1 answer
  • A U.S. manufacturing company operating a subsidiary in an LDC (less-developed country) shows the following results: U.S. LDC Sal
    12·1 answer
  • Majesty Productions accepted a $7,200, 120-day, 6% note from Swartz Studio on March 1. On the date the note matures, Swartz is u
    14·2 answers
  • suppose your total taxable income this year is $75 000 you are taxed at a rate of 10 percent on the first 25000 20 percent on th
    9·1 answer
  • The amount the bank charges for use of money is called interest. <br> True <br> False
    6·1 answer
  • Breakeven analysis: Barry Carter is considering opening a music store. He wants to estimate the number of CDs he must sell to br
    15·1 answer
  • The starting point in calculating net operating income is the total annual income the property would produce assuming 100% occup
    6·1 answer
  • An asset is acquired using a noninterest-bearing note payable for $100,000 due in two years. Management records the purchase wit
    6·1 answer
  • 3
    7·1 answer
  • Which inventory costing method generally results in the most recent costs being assigned to ending inventory?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!