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

A marketing intermediary would most likely help a firm by ________.A) negotiating with labor unions regarding wages, hours, and

Arte-miy333 [17]

Answer:

Moving the firm's goods from production points to distribution centers (E)

Explanation:

Negotiating with labor unions regarding wages, hours, and benefits : This function is the primarily responsibility of Human Resources Manager

Providing technical expertise on the production and design of goods :

This is the responsibility of an Operation Manager

Supplying the raw materials needed for manufacturing the firm's products :

This is the responsibility of Procurement/Purchasing Manager in collaboration with store-keepers.

Moving the firm's goods from production points to distribution centers :

A marketing intermediary is responsible for getting goods from production floor to distribution centers.

7 0

3 years ago

What makes buying a foreclosed property risk

navik [9.2K]

Answer:

You can not check the property beforehand for damages, which is a risk.

Explanation:

A foreclosure property is that property which is being sold off by a lender in order to payoff default.

There are a number of risks involved in buying such property. The process of buying is lengthy and complicated.

Buyers are not allowed to check the property before auction. Often these properties are damaged because the owners can not afford to manage. Or the angry owners may damage the property purposely in order to punish the lenders.

4 0

3 years ago

Identify the term for unsold goods, raw materials, Or work-in-progress that a company has.

ss7ja [257]

Answer:

Inventory

Explanation:

Inventory refers to

The finished products in the warehouse or store that is ready for sale.
Raw materials used in the production of goods
Goods that in the production process, also known as work in progress.

Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.

3 0

3 years ago

Walman Corp. manufactures products X, Y, and Z from a joint production process. Joint costs are allocated to products on the bas

rewona [7]

Answer:

We will only produce further product Y and Z

Explanation:

We should check the increase in sales revenue with the increase in cost to know if further process acheive a gain:

Product X

Increase in sales value:

348,000 - 340,000 = 8,000

Additional Cost: (38,000)

difference: (30,000) Non-profitable

Product Y

Increase in sales revenue:

185,000 - 150,000 = 35,000

additional cost: (30,000)

difference: 5,000 Profitable

Product Z

Increase in sales revenue:

147,000 - 110,000 = 37,000

additional cost: (22,000)

difference: 15,000 Profitable

3 0

3 years ago

You were recently hired by RLM Inc. It is your job to prepare reports and analyze financial information related to the company.

Alex73 [517]

Answer:

d. management

Explanation:

Based on the job tasks described within the question it seems that you were recently hired as a management accountant. This role focuses on (like mentioned in the question) preparing reports and analyzing as much financial information as possible in order to best inform yourself, so that you can help you make the best and most strategic decisions for the organization. Which seems to by why RLM Inc. has hired you.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0

3 years ago