All categories

3 years ago

EBook

Business

1 answer:

KonstantinChe [14]3 years ago

3 0

Answer:

Cost Flow Methods

Gross profit and ending inventory on April 30 using:

Gross Profit Ending Inventory

(a) first-in, first-out (FIFO) $75 $546

(b) last-in, first-out (LIFO) $71 $542

Explanation:

a) Data and Calculations:

Item Beta Cost

April 2 Purchase $270

April 15 Purchase 272

April 20 Purchase 274

Total $816

Average cost per unit = $272 ($816/ 3 units)

Assume that one unit is sold on April 27 for $345

Gross profit and ending inventory on April 30 using:

Gross Profit Ending Inventory

(a) first-in, first-out (FIFO) $75 ($345 - $270) $546 ($816 - $270)

(b) last-in, first-out (LIFO) $71 ($345 - $274) $542 ($816 - $274)

Ending inventory = Cost of goods available for sale Minus Cost of goods sold

Gross profit = Sales Minus Cost of goods sold

You might be interested in

Definition: to strengthen your ideas and opinions with examples, facts, or details is to add _____ details.

Delicious77 [7]

To strengthen your ideas and opinions with examples, facts, or details is to add supportive details.

It is important when analyzing data and drawing conclusions to have facts and details to support your reasoning. Especially if you are making large decisions for an organization, everyone needs to be able to understand why a decision was made. Having tangible information is the best way to support your ideas.

8 0

4 years ago

Read 2 more answers

The Adept Co. is analyzing a proposed project. The company expects to sell 3,500 units, give or take 10 percent. The expected va

olchik [2.2K]

Answer:

c. $58,905.

Explanation:

The computation of the sales revenue is shown below:

optimistic scenario revenue = optimistic unit sold × optimistic price

where,

optimistic unit sold = 3500 × 110%

= $3,850

optimistic price = 15 × 102%

= 15.3

So, the Optimistic revenue is

= 3850 × 15.3

= $58,905

Hence, the option c is correct

4 0

3 years ago

Zahn Industries uses process costing system. During October, the finishing department had 30,000 units in beginning work-in-proc

disa [49]

Answer:

The equivalent units of production for materials and conversion costs are 98,000 units each

Explanation:

For computing the equivalent units of production for materials and conversion costs first, we have to compute the units started and completed units which is shown below:

= Beginning work-in-process inventory units + transferred units - ending work-in-process inventory units

= 30,000 units + 95,000 units - 45,000 units

= 80,000 units

Now the equivalent units of production would be

For material costs:

= (Units started and completed units × completed percentage) + (ending inventory units × completed percentage)

= (80,000 units × 100%) + (45,000 units × 40%)

= 80,000 units + 18,000 units

= 98,000 units

For conversion costs:

= (Units started and completed units × completed percentage) + (ending inventory units × completed percentage)

= (80,000 units × 100%) + (45,000 units × 40%)

= 80,000 units + 18,000 units

= 98,000 units

5 0

3 years ago

Which of the following is a “DON’T” regarding scannable résumés?

posledela

Answer:

Explanation:

just got it right on edge :)

4 0

4 years ago

Read 2 more answers

Suppose a small open economy has a floating exchange rate and the government reduces spending. What will happen to real income i

Mazyrski [523]

Answer:

Less government spending will make the currency value of the small country to fall compared to other currencies, because less government spending means less printing of money, and a slower growth of the money means less inflation, and a cheaper currency.

This will make the exports of the small open economy attractive, leading to an increase in this component of aggregate demand. Such scenario will result in a rise of real income in the short run.

7 0

3 years ago