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NARA [144]
2 years ago
15

Vaughn Manufacturing sells one product and uses a perpetual inventory system. The beginning inventory consisted of 85 units that

cost $22 per unit. During the current month, the company purchased 481 units at $19 each. Sales during the month totaled 362 units for $46 each. What is the number of units in the ending inventory?
Business
1 answer:
dusya [7]2 years ago
3 0

Answer:

Ending inventory in units= 204

Explanation:

Giving the following information:

Beginning inventory= 85 units that cost $22 per unit.

Purchase= 481 units at $19 each.

Sales= 362 units for $46 each.

<u>To calculate the ending inventory in units, we need to use the following formula:</u>

Ending inventory in units= total number of units - units sold

Ending inventory in units= 566 - 362

Ending inventory in units= 204

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<span>Buying a bond does not constitute ownership in a company. In the event that Touchtech, or any firm that issues a bond, runs into financial difficulty, bondholders are the first to be paid. Sean, as a bondholder, would be among the first paid.</span>
8 0
2 years ago
Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $490,000. In addition to the purchase price, FVI makes the followi
Airida [17]

Answer:

$555,900

Explanation:

To determine the FVI amount that should be recorded, all closing costs must be added to the initial purchase price of the land

∴ = $490,000 + $29,000 + $1,900 + $6,000 + $29, 000

 =$555,900.

4 0
3 years ago
The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2900 units, the actual direct
pashok25 [27]

Answer:

$5400 Favorable

Explanation:

Standard 2 hour at $15 per hour

Standard hours 2 hour per unit * 2900 units = 5800 hours

Total Standard cost = 5800 hours * $15 per hour =  $87,000

Actual hours = 5100

Actual cost = $81600 / 5100 hours = $16 per hour

Variance = Standard - Actual

Labor hour Variance Favorable = 700 hours (5800 hours - 5100 hours)

Total Labor variance = $5400 ($87,000 - $81,600)

4 0
3 years ago
Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $954,
stiv31 [10]

Answer:

Instructions are listed below

Explanation:

An income statement is one of the three important financial statements used for reporting a company's financial performance over a specific accounting period. The income statement focuses on the four key items - revenue, expenses, gains, and losses. It does not cover receipts (money received by the business) or the cash payments/disbursements (money paid by the business).

It follows the general structures:

Revenues (+)

Operating Revenue

Non-Operating Revenue

Total

Expenses (-)

Primary Activity Expenses

Secondary Activity Expenses

Total

Gains (+)

Losses (-)

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In this exercise:

Total revenues=$954210

Expenses:

Office expense 219470

Miscellaneous expense 19085

Wages expense 458020

Total Expenses=$696575

Net profit= $275635

4 0
3 years ago
Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.45 per pound. 15,700
Andru [333]

Answer:

A) Price       7,080     U

B) Quantity 4,630.5  U

C) Total        11.710,5‬ U

Explanation:

DIRECT MATERIALS VARIANCES

(standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance

std cost  $3.45

actual cost  $3.65

quantity 35,400

difference  $(0.20)

(0.2) \times 35,400 = DM \: price \: variance

price variance  $(7,080.00)

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance

std quantity 36110.00

actual quantity 35400.00

std cost  $3.45

difference 710.00

(710) \times 3.45 = DM \: quantity \: variance

quantity variance  $2,449.50

Total Variance: 2,449.5 - 7,080 = -4.630,5‬

8 0
3 years ago
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