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2 years ago

The units of an item available for sale during the year were as follows:

Business

1 answer:

ioda2 years ago

4 0

Answer:

FIFO LIFO Weighted Average

Inventory cost = $167,700 $145,600 $157,800

Explanation:

a) Data and Calculations:

Jan. 1 Inventory 1,000 units at $120 $120,000 $120,000

Feb. 17 Purchases 1,375 units at $128 176,000 296,000

July 21 Purchases 1,500 units at $136 204,000 500,000

Nov. 23 Purchases 1,125 units at $140 157,500 657,500

Dec. 31 Total units 5,000 $657,500

Dec. 31 Inventory 1,200

Dec. 31 Units sold 3,800

Inventory cost by:

FIFO ( first-in, first-out method)

July 21 Purchases 75 units at $136 $10,200

Nov. 23 Purchases 1,125 units at $140 157,500

Dec. 31 Inventory 1,200 $167,700

LIFO (last-in, first-out method)

Jan. 1 Inventory 1,000 units at $120 $120,000

Feb. 17 Purchases 200 units at $128 25,600

Dec. 31 Inventory 1,200 $145,600

Weighted-Average Cost Method

Total cost of goods available/Total units available for sale

= $657,500/5,000

= $131.50 per unit

Inventory cost = $157,800 ($131.50 * 1,200)

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Apple Valley Corporation uses a job cost system and has two production departments, A and B. Budgeted manufacturing costs for th

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Answer:

For Department A, the manufacturing overhead allocation rate is : 300%

For Department B, the manufacturing overhead allocation rate is : 50%

Manufacturing overhead costs allocated to Job #432 : $30,000.

Explanation:

Apple Valley Corporation uses job cost system and it allocates overhead cost to job on basis of manufacturing labor cost.

1. To identify the manufacturing overhead allocation rate for department A:

(Manufacturing Overhead department A / Direct Manufacturing Labor Department A) * 100

= ($600,000 / $200,000) * 100

= 300%

2. To identify the manufacturing overhead allocation rate for department B:

(Manufacturing Overhead department B / Direct Manufacturing Labor department B) * 100

= ($400,000 / $800,000) * 100

= 50%

3. To calculate the manufacturing overhead costs allocated to Job #432:

[(Department A direct labor * Manufacturing Overhead department A) / Direct Manufacturing Labor of department A ] + [(Department B direct labor * Manufacturing Overhead department B) / Direct Manufacturing Labor of department B ]

= [( $8,000 * $600,000) / $200,000] + [( $12,000 * $400,000) / $800,000]

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2 years ago

If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopo

MatroZZZ [7]

If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopolist should increase production and lower the price to maximize profits decrease production and increase the price to maximize profits.

<h3>Who is a monopolist?</h3>

monopolist serves as the entity that dominates a particular market in term of production, he is the one that has the highest control of the market and make the most profits.

It should be noted that If a monopolist is producing a quantity where marginal revenue is equal to $32 and the marginal cost is equal to $30, the monopolist should increase production and lower the price to maximize profits decrease production .

Learn more about monopolist on:

brainly.com/question/13113415

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1 year ago

Which of the following types of business ownership has the advantages of pass-through taxation and liability protection? A. A so

nikklg [1K]

Your answer is LLC so it would be B. IM writing this long because i have to

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3 years ago

Read 2 more answers

Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for July: Increase in estimated ret

Dvinal [7]

Answer:

$873,200

Explanation:

The computation of the cost of merchandise sold is shown below:

= Merchandise inventory, July 1 + Purchases - Purchases returns and allowances - Purchases discounts - Freight in - Merchandise inventory, July 31

= $49,300 + $985,500 - $33,500 - $19,700 - $13,800 - $94,600

= $873,200

We simply added the purchase amount and deduct all other items except Increase in estimated returns inventory to the opening balance of merchandise inventory

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3 years ago

Natural rate of unemployment:

Mekhanik [1.2K]

Answer:

(a)

Common pace of joblessness is a mix of auxiliary and frictional joblessness.

Basic Unemployment: Occurs contribution to modern rearrangement or innovative change.

Frictional Unemployment: When individuals are in the middle of occupations for example the way toward moving from one occupation to other.

On the off chance that an enactment making it progressively hard for the organizations to terminate laborers is presented, at that point despite the fact that the activity discovering rate will stay consistent, the consistent state joblessness will stay steady. Less individuals will stay jobless at a specific time.

(b)

The activity discovering rate will change provided that prerequisite of a severance bundle will build the expense of work. This implies the business will most likely decrease the pace of contracting which will along these lines increment the pace of joblessness. Subsequently, the enactment would diminish the activity discovering rate.

(c)

The expense of contracting will increment if an enactment like this is passed. The enactment presents the idea of severance bundle for terminated laborers. This expands the expense of employing for the firm. Along these lines, the business will diminish the employing to decrease the expenses. This will diminish the business rate in a nation which will make a higher regular pace of joblessness.

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3 years ago