The negative impact of the coronavirus on businesses

Rutgers Industries has the following inventory information for 2019: Jan 1 Beginning Inventory 240 units at $100 per unit June 1

timofeeve [1]

Answer:

$86,000

Explanation:

FIFO means first in, first out. It means that the first purchased inventory is the first to be sold.

This means thay the 500 units sold would be taken from the earliest purchased inventory and the ending inventory would be the most recently purchased inventories.

Ending inventory = (80 × $150) + (370 × $200) = $12,000 + $74,000 = $86,000

I hope my answer helps you

4 0

3 years ago

A company had net sales of $752,000 and cost of goods sold of $543,000. Its net income was $17,530. The company's gross margin r

irina1246 [14]

Answer:

The gross margin ratio is 27.8%

Explanation:

Gross Margin is an indicator of whether a company is running an efficient operation and if its sales are good enough

The formula for calculating gross margin ratio is

Total revenue - cost of goods sold ÷ total revenue x 100

Total revenue = $752,000,

Cost of goods sold = $543,000

therefore gross margin ratio

$752,000 - $543,000 = $209,000

$209,000 ÷ $752,000 = 0.2779

0.2779 × 100 = 27.79 ≅ 27.8%

8 0

3 years ago

A semiprofessional baseball team near your town plays two home games each month at the local baseball park. They split the conce

Finger [1]

Answer:

c. 41

Explanation:

The first thing we need to do is evaluate the monthly costs of the team:

Monthly Costs: $100 for the park, $1,000 for the salaries.

Total: $1,100

They play 2 local games per month, so they have costs of $550 / local game.

Now, for each ticket they sell, they get $10 for the ticket and $3.50 in concessions. Assuming these are net money from the concessions, not just sales. So, for each ticket sold, they get $13.50 in revenues.

To cover their $550/game costs they need to sell...

550 / 13.50 = 40.74 tickets... so 41 tickets are needed to cover those monthly costs.

7 0

3 years ago

A large current account deficit is most likely to come about when desired investment _____ substantially and if desired nationa

Mars2501 [29]

Answer:

Increases; Declines

Explanation:

A current account deficit occurs when the value of imports (of goods, services and investment income) is greater than the value of exports. If the currency is overvalued, imports will be cheaper, and therefore there will be a higher quantity of imports.

6 0

3 years ago

Comfy Cozy Chairs makes and sells rockers. Each rocker requires $45 of direct materials and $37 of direct labor. Variable manufa

igomit [66]

Answer:

the unit product cost using absorption costing is $119

Explanation:

The computation of the unit product cost using absorption costing is given below:

= Direct material per unit + direct labor per unit + variable manufacturing cost per unit + fixed manufacturing cost

= $45 + $37 + $8 + ($58,000 ÷ 2000)

= $119

Hence, the unit product cost using absorption costing is $119

8 0

3 years ago

The negative impact of the coronavirus on businesses​

The negative impact of the coronavirus on businesses