Create a budget that will allow you to save at least $100 by the end of October. (10 points)

Privately owned businesses are common in which type of economy?

Mariana [72]

Privately owned businesses are commonly found in capitalist economies.

4 0

3 years ago

Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. F

masha68 [24]

Answer:

Closing Units = (710 units - 490 units)= 220 units

a) FIFO : closing inventory = $14,040

Mar 18 purchase 20 *$62 =$1,240

Mar 25 purchase 200 *$64 = $12,800

b) LIFO : closing inventory = $12,780

Mar 1 opening = 90 * $52 =$4,680

Mar 18 purchase = 110 * $62 = $6,820

Mar 25 purchase = 20*$64 =1,280

c) Weighted Average Method (WAM) :

WAM= (Opening cost + purchases cost)/(opening units +units purchased)

= ($7,800+$14,250)/(150+250) = $55.125 cost before Mar 9 sale

WAM(after the first sale) = ($4,961.25 +$6,820 + $12,800)/(90+110+200)

= $61.45

Closing Inventory = $61.45*220 =$13,519

d) Specific Identification :Closing Inventory = $13,070

Mar 01 opening = 60 *$52 =$3,120

Mar 5 Purchase = 30*$57 =$1,710

Mar 18 Purchase = 40*$62 =$2,480

Mar 25 Purchase = 90*$64 =$5,760

Explanation:

The Question is incomplete. I have provided the missing part of the question below.

Date Activities Units Acquired at Cost Units Sold at Retail

Mar. 1 Beginning inventory 150 units $52.00/unit

Mar. 5 Purchase 250 units $57.00/unit

Mar. 9 Sales 310 units $87.00/unit

Mar. 18 Purchase 110 units $62.00/unit

Mar. 25 Purchase 200 units $64.00/unit

Mar. 29 Sales 180 units $97.00/unit

Totals 710 units 490 units

5 0

3 years ago

The law of diminishing returns indicates that:a. because of economies and diseconomies of scale a competitive firm's long-run av

Olegator [25]

Answer:

The correct answer is option c.

Explanation:

The law of diminishing returns states that as we go on employing additional inputs the return or payoff from each unit of input will become smaller or go on declining. This means that after a certain point the total output will start increasing on a decreasing rate as we go on hiring more inputs.

In other words, the marginal product of inputs will go on declining with each additional unit of input employed. As a result after reaching a certain point, the marginal product starts to decline.

7 0

3 years ago

firm purchased copper pipes a few years ago at $10 per pipe and stored them, using them only as the need arises. The firm coul

Lostsunrise [7]

Answer:

The opportunity cost of each pipe and what is the sunk cost is $77 and $67 per pipe respectively.

Explanation:

Opportunity cost: The opportunity cost is that cost which is incurred to choose the best options with the available options.

Sunk cost: The sunk cost is that cost which is not recovered in the future. Its other name is the past cost. It does not help to make future decisions as if it is incurred then it cannot be recovered again

So, the opportunity would be the current price i.e $77

And, the sunk cost is $67 per pipe ($77 - $10)

7 0

2 years ago

Lisa is a single mother who has a full-time job. She has twenty minutes to get to work after dropping her child off at a pre-kin

lesya692 [45]

Program standards !!!

8 0

3 years ago

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