Dark colors in clothes are encouraged rather than bright colors, or patterns.<br><br> True<br> False

The units of an item available for sale during the year were as follows:

ioda

Answer:

FIFO LIFO Weighted Average

Inventory cost = $167,700 $145,600 $157,800

Explanation:

a) Data and Calculations:

Jan. 1 Inventory 1,000 units at $120 $120,000 $120,000

Feb. 17 Purchases 1,375 units at $128 176,000 296,000

July 21 Purchases 1,500 units at $136 204,000 500,000

Nov. 23 Purchases 1,125 units at $140 157,500 657,500

Dec. 31 Total units 5,000 $657,500

Dec. 31 Inventory 1,200

Dec. 31 Units sold 3,800

Inventory cost by:

FIFO ( first-in, first-out method)

July 21 Purchases 75 units at $136 $10,200

Nov. 23 Purchases 1,125 units at $140 157,500

Dec. 31 Inventory 1,200 $167,700

LIFO (last-in, first-out method)

Jan. 1 Inventory 1,000 units at $120 $120,000

Feb. 17 Purchases 200 units at $128 25,600

Dec. 31 Inventory 1,200 $145,600

Weighted-Average Cost Method

Total cost of goods available/Total units available for sale

= $657,500/5,000

= $131.50 per unit

Inventory cost = $157,800 ($131.50 * 1,200)

4 0

3 years ago

Teel Printing uses two measures of activity, press runs and book set-ups, in the cost formulas in its budgets and performance re

juin [17]

Answer:

D. $193,750

Explanation:

Calculation for the wages and salaries in the flexible budget for July

FLEXIBLE BUDGET FOR JULY

Using this formula

Flexible budget= Wages and salaries Cost formula per month+Actual activity press runs*Wages and salaries per press runs+Actual activity book set-ups*Wages and salaries book set-up

Let plug in the formula

Flexible budget=$8,850+201*400+110*950

Flexible budget=$193,750

Therefore the wages and salaries in the flexible budget for July would be closest to $193,750

7 0

3 years ago

A company that utilizes carbon fiber 3-D printing wants to have money available two years from now to add new equipment. The com

Alenkinab [10]

Answer:

Total amount available in two years is $1,354,125.

Explanation:

The total amount available in two years can be calculated as follows:

Total amount in the deposit now = Current deposit + Amount planned to be deposited = $650,000 + $200,000 = $850,000

Future value of the total amount the deposit now = Total amount in the deposit now * (1 + Annual interest rate)^Number of years the deposit used = $850,000 + (1 + 15%)^2 = $1,124,125

Future value of next year's deposit = Next year's deposit * (1 + Annual interest rate)^Number of years the deposit used = $200,000 * (1 + 15%)^1 = $230,000

Total amount available in two years = Future value of the total amount the deposit now + Future value of next year's deposit = $1,124,125 + $230,000 = $1,354,125

5 0

3 years ago

2. When the economy is in a recession, the Federal Reserve usually cuts interest rates. Why would the federal government do this

Airida [17]

The purpose of the Federal Reserve cutting interest rates during a recession is to encourage borrowing (borrowing becomes cheaper) and in this way especially for companies they may spend more money then on improvements, new products etc so the economy theoretically will be stimulated to counteract the recession.

7 0

3 years ago

The proprietorship form of business organization Question 5 options: must have at least two owners in most states. generally rec

-Dominant- [34]

Answer:

generally receives favorable tax treatment relative to a corporation.

Explanation:

The sole proprietorship is the business organization in which the business is controlled by single person only. The business records would be separated with the owner personal records in this type of business also it would not be classified as a separate legal entity just like corporation

But in this it received the favorable tax treatment as compared with the corporation

8 0

3 years ago

Dark colors in clothes are encouraged rather than bright colors, or patterns. True False