1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Musya8 [376]
3 years ago
7

Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases

(listed in chronological order of acquisition): 42 units at $109 per unit 74 units at $82 per unit 170 units at $70 per unit Sales for the year totaled 267 units, leaving 19 units on hand at the end of the year. Ending inventory using the average cost method is
Business
1 answer:
madam [21]3 years ago
7 0

Answer:

$1,497.77

Explanation:

From the above information, the following can be deduced;

42 units at $109 per unit

74 units at $82 per unit

170 units at $70

Total units = 42 + 74 + 170 = 286 units

Units left at year end = 19 units

The next step is to compute the total cost in arriving at the ending inventory, using average cost method.

Total cost = [(42 × $109) + (74 × $82) + (170 × $70)]

= $4,578 + $6,068 + $11,900

= $22,546

Per unit cost

= $22,546 ÷ 286 unit

= $78.83 per unit

Therefore, ending inventory

= Per unit cost × Units held at the end of the year

= $78.83 × 19 units

= $1,497.77

You might be interested in
Benefits can represent more than ______ of the employer's total payroll costs. a. 28 percent b. 7 percent c. 66 percent d. 12 pe
gtnhenbr [62]

Answer:

b. 7 percent

Explanation:

Benefits here means the statutory benefits that the employees have a right to receive. These on the legal terms are the requirements, as the employer is required to contribute around 7.65% of the salary paid to the employee towards benefits of social security and Medicare.

This clearly is the standard set for the payroll. Now this also provides for the minimum contributions, thus it provides that at-least these are to be made.

Thus, each employer when making a standard salary shall contribute more than 7% towards the benefits of the employees.  

4 0
3 years ago
A. explain the auditor’s justification for accepting the uncertainties that are inherent in the sampling process.
Troyanec [42]
<span>A. An auditor can accept the uncertainties in the sampling process since they have some idea in which financial statements errors are occurring. In this case their sample is not completely random. B. The formula AR = IR Ă— CR Ă— DR is often used to describe audit risk. Here, AR is audit risk, IR is inherent risk, CR is control risk, and DR is detection risk. Inherent risk is the risk of a report containing errors due to the complex nature of how the audited business runs. Control risk is the risk that an error may occur but may not be detected by the business itself. Detection risk is the risk that the auditor may fail to find errors that are present in the business' financial reports. C. An auditor may only sample, or inspect a fraction of a company's financial history. This is done for practical purposes, for there may not be enough time to inspect everything, or it may be too costly. If the auditor is issuing a test of controls, in which they are scrutinizing their target's internal procedures for detecting errors, then sampling may fail to see these errors.</span>
8 0
4 years ago
Ferret boy names NO HUMAN NAMES (chase, rick, bob, george, etc)
DaniilM [7]

Answer:

jimmy

Explanation:

just bc i said so its funny and cute

8 0
3 years ago
Read 2 more answers
True or False: Economists believe that social regulation is an exception to the MB = MC rule because social regulation should in
Soloha48 [4]

Answer:

TRUE

Explanation:

The statement is True. Economists believe that social regulation is an exception to the MB=MC rule. The social regulation is an important aspect for a company as a repsonsibility towards the society. There must be awareness among the customers about the products offered to them and advantages of its utilisation to them. This includes the efforts of the companies to advertise the product ina proper manner. It also requires the company to be fair with their customers with respect to the ingredients or the raw material to be used by the manufacturers of the products. The working conditions of the manufacturing firms must be adequate for the employees to deliver an efficient product.

Thanks

8 0
3 years ago
A football game between the Thunder and the Sharks is in its closing minutes, with the Thunder ahead by 20 points. The Thunder’s
PolarNik [594]

Answer: increased, trade- offs, marginal thinking, small.

Explanation:

According to the passage, The coach is weighing a slightly<u> increased </u>risk of losing against a slightly decreased risk of injury to the star quarterback. This weighing o<u>f trade-offs </u>is an example of <u>marginal thinking,</u> because the star quarterback was in for most of the game, and the coach's decision concerns <u>small </u>shifts in probabilities with the game nearly over.

6 0
3 years ago
Other questions:
  • Springfield Co., based in the U.S., has a cost from orders of foreign material that exceeds its foreign revenue. All foreign tra
    6·1 answer
  • Wally's hardware store is located in a small town in the midwest. this store would best be classified as a(n) _____.
    11·1 answer
  • "A customer who has signed an arbitration agreement at account opening has a dispute with a representative that he wishes to set
    7·1 answer
  • Mandy’s Inc. is a well-known supplier of industrial goods. While selling goods, it provides personalized benefits to each custom
    7·1 answer
  • Which of the following best defines the General Electric fastworks approach
    15·1 answer
  • A medical researcher suggests that the new flu shot will prevent all forms of the flu, but it was never tested or proved to be t
    14·1 answer
  • Krizun Industries makes heavy construction equipment. The standard for a particular crane calls for 14 direct labor-hours at $16
    6·1 answer
  • Although GDP is a reasonably good measure of a nation's output. It does not necessarily include all transactions and production
    11·1 answer
  • James is employed by a large corporation with 400 employees. The corporation provides its employees with a no-cost gym membershi
    9·1 answer
  • Several years ago, the City of Russell issued $7 million of 6 percent serial bonds at 101. Principal payments of $350,000 are du
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!