Easy career question below first correct answer gets brainliest

San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost

muminat

Answer:

The average cost of ending inventory is $37,259 and cost of goods sold for october is 24,166

Explanation:

In order to calculate the average cost of ending inventory, we would have to calculate first the cost to retail ratio with the following formula:

cost to retail ratio=Total cost/Total retail

According to the given data, the total cost=$61,425, and the total retail= $87,100, Hence:

cost to retail ratio=$61,425/$87,100= 70.5%

Also, we have to calculate the ending inventory at retail=$87,100+$1,700-$1,050-$37,00=$52,850

Therefore, the average cost of ending inventory= $52,850×70.5%

=$37,259

To calculate the cost of goods sold for october we would have to use the following formula:

cost of goods sold=Beginning inventory+purchases-ending inventory

=$40,000+$21,425-$37,259

=$24,166

6 0

3 years ago

Bonita Industries prepared a fixed budget of 75000 direct labor hours, with estimated overhead costs of $375000 for variable ove

Zinaida [17]

Answer: $425,000

Explanation: The total overhead cost can be computed suing following formula :-

total overhead cost = fixed overhead cost + variable overhead cost

where,

fixed overhead cost = $90,000

$variable\:overhead\:cost=\frac{\$375,000}{75,000\:hours}\times 67,000\:hours$

=$335,000

so,putting the values into equation we get :-

total overhead cost = $90,000 + $335,000

= $425,000

6 0

3 years ago

How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually?

Sav [38]

Answer:

Interest earn= $80.14

Explanation:

Giving the following information:

PV= $1,000

i= 7%

n= 3

First, we will calculate the future value at the second year:

FV= PV*(1+i)^n

FV= 1,000*(1.07^2)

FV= 1,144.9

Now, for the third year:

FV= 1,144.9*1.07= 1,225.04

Interest earn= 1,225.04 - 1,144.9= $80.14

4 0

3 years ago

Hank has a 32% marginal tax rate and has already recognized a STCL of $8,000 and a L TCG of $5,000, both due to the sale of stoc

Ivenika [448]

Answer:

The increase in his tax liability is $1,120

Explanation:

STCL due to sale of stock = $8,000

LTCG due to sale of stock = $5,000

∴Net STCL = $8,000 - $5,000

Net STCL = $3,000

LTCG on sale of antique clock = $7,000

∴Net LTCG on sale of antique = $7,000 - $3,000 = $4,000

LTCG on sale of antiques is taxed at the rate of 28%

∴ Tax liability = $4,000 * 28%

Tax liability = $4,000 * 0.28

Tax liability = $1,120

6 0

2 years ago

Organizational change can best be defined as ________.

Paul [167]

Organizational change can best be defined as any alteration of people, structure, or technology.

When an organization makes a change it is known as organizational change. When changing an organization you are making a change to the way the company runs. Changing any type of structure, technology or moving around how people work can make a change to the organization.

6 0

3 years ago