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kobusy [5.1K]
3 years ago
7

Alpha First Company just began business and made the following four inventory purchases in June: June 1 150 units $1040 June 10

200 units 1560 June 15 200 units 1680 June 28 150 units 1320 $5600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is $1508. $1848. $1456. $1824.
Business
1 answer:
grandymaker [24]3 years ago
3 0

Answer:

a. $1508

Explanation:

June 1    150 units

June 10  200 units

June 15  200 units

June 28  150 units

Total       700 units

Out of above, only 210 units are in hand. Under LIFO method, 150 units are from 1st June and 60 units are from 10th June.

Date     Units (a)  Per unit cost (b)  Ending inventory (a*b)

June 1       150      $6.93 (1040/150)        $1.040

June 10     60       $7.8 (1560/200)          $468

Total         210                                           $1,508

So, using the LIFO inventory method, the value of the ending inventory on June 30 is $1,508

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________ consist(s) of employees representing various functions of the company, such as R&D, design, production, marketing,
zubka84 [21]

Answer:

Cross functional teams

Explanation:

Cross functional teams is the term which is defined as the groups which are made up of the people from the different functional areas within the company or firm such as the human resources, marketing, sales, customer service and distribution.

Under this teams are effective as each member could address the business decision from different view points.  

Therefore, the cross functional teams are the one which compromise of the employees stating the various company functions.

7 0
3 years ago
Marilyn is age 66, if she receives a $15,000 taxable HSA distribution this year, what tax penalty, if any, will apply?
Arada [10]

Answer:

No penalty

Explanation:

The tax penalty is as follows

The HSA i.e. health saving account. It is opened so that the expenses related to the medical could be paid and the high health plan i.e. deductible  (HDHP) would not covered here

In the case when rules are not followed so there is a penalty of 20%

Given that the amount taxable is $15,000

So here the penalty would be

= $15,000 × 20%

= $3,000

But since Marilyn age is 66 so there is no penalty as the penalty would be applied till the age of 65

5 0
2 years ago
During the phase of the history of U.S. government regulation called industry deregulation, government sought to a. protect comp
Over [174]

Answer:

Option d (increase.....................transportation) seems to be the right option.

Explanation:

  • This same fourth phase throughout the past decades of U.S. regulatory requirements started throughout the late 1970s as well as focuses primarily on industrial protectionism.
  • Throughout that stage of development, the current regime has focused on increasing competitive advantage throughout sectors such as construction, utility services, transshipment as well as wealth management by deactivating an amount of regulation but rather allowing companies to diversify their business processes to developing companies.

The interpretation of that same question has been characterized throughout the explanation paragraph below.

4 0
3 years ago
Tidy Limited purchased a new van on January 1, 2018. The van cost $32,000. It has an estimated life of eight years and the estim
Cloud [144]

The adjusted balance in the Accumulated Depreciation account at the end of 2019 is <u>$14,000</u>.

<u> Explanation</u>:

<em><u>Given</u></em>:

Cost of van= $32,000

Estimated residual value= $3,200

Straight-line Depreciation Rate= 1/8

                                                = 0.125

Straight-line Depreciation Rate= 12.5%

Declining Balance Rate = 2 ×12.5%

                                             = 25%

Double declining balance can be calculated with the following formula:

2 x basic depreciation rate x book value

By applying the values,

The adjusted balance in the Accumulated Depreciation account= $14,000.

7 0
3 years ago
Mount Company incurred a total cost of $8,600 to produce 400 units of pulp. Each unit of pulp required 5 direct labor hours to c
Sophie [7]

Answer:

The correct answer is option (B).

Explanation:

According to the scenario, the given data are as follows:

Total cost = $8,600

Total units = 400 Units

Direct labor hour per unit = 5

Variable cost = $1.50

So, we can calculate the fixed cost by using following formula:

Fixed cost = Total cost - Total Direct labor cost

Where, Total direct labor cost = $1.50 × 5 × 400 = $3,000

By putting the value in the formula, we get

Fixed cost = $8,600 - $3,000

= $5,600

5 0
3 years ago
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