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qaws [65]
2 years ago
6

Crane Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 483 units that cos

t $63 each. During the month, the company made two purchases: 723 units at $66 each and 362 units at $68 each. Crane Company also sold 1195 units during the month. Using the average cost method, what is the amount of ending inventory
Business
1 answer:
vaieri [72.5K]2 years ago
5 0

Answer:

$24,445.67

Explanation:

The average cost method calculates an average costs out of the units available for sale. The average cost is then used to value cost of sales and the inventory value.

Unit Cost = Total Cost ÷ Units available for sale

therefore,

Unit Cost = (483 x $63 + 723 x $66 + 362  x $68) ÷ 1,568

                = $65.538

Now,

Ending Inventory = Units in stock x Unit Cost

                             = (1,568 - 1,195) x $65.538

                             = $24,445.67

Using the average cost method, the amount of ending inventory is  $24,445.67.

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The men's tie buyer has net sales of $1,440,000, expenses of $504,000, and total reductions of $604,800. The buyer wants a profi
irakobra [83]

Answer: $1,195,200

Explanation:

Net sales = $1,440,000

Expenses = $504,000

Reductions = $604,800.

We then calculate the initial mark up which will be the addition of the net sales, expenses and the reduction. This will be:

= $1,440,000 + $504,000 + $604,800

= $1,195,200

5 0
2 years ago
Use the data in P 13-5 for Prince Company. Assume that the stock price per share is $ 28 and that dividends in the amount of $ 3
Kamila [148]

2) Current Ratio for Year 2

Current Assets = Cash + Accounts Receivable + Inventory = 7,800 + 15,900 + 43,800 = 67,500Current Liabilities (given) = 17,900

Current Ratio = Current Assets / Current Liabilities = 67,500 / 17,900 = 3.77

3) Quick Ratio for Year 2

Quick Assets = Current Assets – Inventories – Prepaid Expenses = 67,500 – 43,800 = 23,700

Quick Ratio = Quick Assets / Current Liabilities = 23,700 / 17,900 = 1.32

4) Cash Ratio for Year 2

Cash Ratio = (Cash + marketable securities) / Current Liabilities = 7,800 / 17,900 = 0.4357 or 0.44

5) P/E Ratio for Year 2

P/E Ratio = Market Price Per Share / Earnings Per Share = $47 / 8.26 = 5.69

6) Dividend Yield Ratio for Year 2

Dividend Yield Ratio = Dividend Per Share / Market Price Per Share = 13 / 47 = 0.2766 or 27.66%

Learn more about current asset here:

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5 0
1 year ago
All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segme
Tpy6a [65]

Answer:

<u>single-segment concentration.</u>

Explanation:

<em>Single-segment concentration</em> occurs when the company concentrates its operational, productive, marketing and sales efforts to serve a single market segment.

Advantages of this model include enhancing the effectiveness of concentrated marketing, which helps the organization achieve activity specialization, which increases the possibility of becoming a market leader and achieving a high return on investment.

4 0
3 years ago
A situation that arises when all alternative choices or behaviors have been deemed undesirable because of the potentially negati
Anton [14]

Answer:

c. an ethical dilemma .

Explanation:

An ethical dilemma -

It is the decision - making problem between two of the moral imperative , and both of them are neither unambiguously preferable nor acceptable .

It can also called an ethical paradox in the moral philosophy .

<u>Ethical dilemma is showcased in the information of the question .</u>

hence , the correct answer is - an ethical dilemma .

7 0
2 years ago
Equilibrium price is $8 in a perfectly competitive market. For a perfectly competitive firm, MR = MC at 150 units of output. At
Ghella [55]

Answer:

Shut down

$1650

$1500

Explanation:

A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

in the shut run, a perfect competition should shut down if average variable cost is greater than price. this is the case for this firm $10 is greater than $8.

total fixed cost = average fixed cost x quantity produced = $11 x 150 = $1650

Total variable cost = average variable cost x quantity produced = $10 x 150 = $1500

4 0
2 years ago
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