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earnstyle [38]
3 years ago
12

At the beginning of Year 2 , Benson Company had beginning inventory of 150 units that cost $200 each. During Year 2, Benson made

two inventory purchases. Purchase 1 consisted of 500 units at a ost of $210. The second purchase consisted of 350 units that cost $220 each. Assuming Benson uses weighted average cost flow and sells 700 units of inventory during Year 2, the amount of ending inventory would be
Business
1 answer:
lawyer [7]3 years ago
7 0

Answer:

$63,600

Explanation:

Th weighted average method is one that ensures that all the various prices at which inventory is bought is considered to determining the price at which inventory is issued.

Amount of Inventory at

= (150 × 200) + (500 × 210) + (350 × 220) = $212,000

Total quantity (before sales) = 150 + 500 + 350 = 1000 units

Weight average cost per unit = $212,000/1000 = $212

The 700 units sold will be value at $212 per unit.

Hence total cost of goods sold = $212 × 700 = $148,400

Closing inventory amount = $212,000 - $148,400

= $63,600

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Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound.
butalik [34]

Answer:

materials quantity variance: 1,200 unfavorable

Explanation:

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance

std quantity 5400.00

actual quantity 6000.00

std cost  $2.00

(5,400 - 6,000) \times 2.00 = DM \: quantity \: variance

difference -600.00

quantity variance  $(1,200.00)

The difference between standard and actual quantity is negative. We used more pounds than expected, the variance will be unfavorable.

600 extra pounds at $2.00 each = 1,200

6 0
3 years ago
The lower the market price,
zalisa [80]
D the lower the taxes(I searched it up)
8 0
9 months ago
which section organizes, assigns, and supervises tactical response resources? a. logistics b. planning c. operations d. finance/
Ilia_Sergeevich [38]

Answer:

C (operations)

Explanation:

Operations Section Chief organizes, assigns, and supervises all the tactical or response resources assigned to the incident.

5 0
9 months ago
Use the following compound interest formula to complete the problem. A = P (1 StartFraction r over n EndFraction) superscript n
Tatiana [17]

Credit cards are the card which is given by banks to the customers for withdrawing some amount beyond the account balance. The card I's is increased by $1579.3 than card H.

<h3 /><h3>What is a credit card?</h3>

A credit card refers to a payment mechanism that helps both consumer and commercial business proceedings, including purchases and cash advances.

Computation of credit card's balance:

<u>Amount of </u><u>Card H </u><u>after 3 years:</u>

Given,

Principal(P) = $1,186.44

Interest Rate(r) = 14.74%

Number of time period(n) = 3 years.

Applying the above values in the formula given in the question:

\text{A} = \text{P}(1+ \dfrac{r}{n} )^n^t\\\\\\\text{A} =\$1,186.44(1+ \dfrac{14.74\%}{3} )^3\\\\\\\text{A}= \$1792.2

<u>Amount of</u><u> Card I </u><u>after 3 years:</u>

Principal(P) = $1,522

Interest Rate(r) = 12.05%

A number of the time periods (n):

12\text{Months}\times3\text{Years} = 36 \text{Months}

Again, apply the above values in the formula given in the question:

\text{A} = \text{P}(1+ \dfrac{r}{n} )^n^t\\\\\\\text{A} =\$1,522.16(1+ \dfrac{12.05\%}{12} )^3^6\\\\\\\text{A}= \$3,371.58

Now we take the difference between both the credit cards, we have:

\text{Amount of Credit Card I}-\text{Amount of Credit Card H}\\\\=\43,371.58-\$1,792.2\\\\=\$1,579.38

Therefore, card H's balance is decreased by $1579.3 than a card I.

Learn more about credit cards, refer to:

brainly.com/question/14716152

4 0
2 years ago
Assuming a binding price floor, the more inelastic the supply and the demand curves are, the:1'smaller the shortage a price floo
KATRIN_1 [288]

Answer:

Option "3" is the correct answer.

Explanation:

Inelastic demand curve depict when there's no evident increase in demand due to an increase in price.

3 0
3 years ago
Read 2 more answers
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