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MAXImum [283]
3 years ago
15

Sunland Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is avail

able. Units Unit Cost Total Cost April 1 inventory 340 $23 $7,820 April 15 purchase 390 28 10,920 April 23 purchase 270 30 8,100 1,000 $26,840 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Ending inventory $enter a dollar amount Cost of goods sold $
Business
1 answer:
Lady_Fox [76]3 years ago
8 0

Answer:

Ending inventory cost= $10,900

COGS= $15,940

Explanation:

<u>To calculate the  ending inventory using LIFO (last-in, first-out) method, we need to use the cost of the lasts units incorporated into inventory:</u>

Ending inventory in units= 1,000 - 550= 450

Ending inventory cost= 340*23 + 110*28= $10,900

<u>Now, the cost of goods sold:</u>

COGS= 270*30 + 280*28= $15,940

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How do the terms business ethics and social responsibility differ from each other
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Http://www.differencebetween.net/business/difference-between-business-ethics-and-social-responsibili... might be useful for you. At the bottom part there is a tiny summary!!
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3 years ago
the standards for the new galaxy phone specify 4.1 direct labor-hours per unit at $12.10 per direct labor-hour. last month 1,600
hammer [34]

a.The labor rate variance for the month $2,640 (Favorable).

b.The labor efficiency variance for the month $484 (Unfavorable).

<h3>Solution:</h3>

The following is a calculation of labor rate variation and labor efficiency variance:

Variation in labor rates = Actual cost - (Actual hours x Standard rate)

= $77,220 - (6,600 × $12.10)

= $77,220 - 79,860

= $2,640 Favorable

Variation in labor efficiency = Standard rate (Actual hours - Standard hours)

= $12.10 × (6,600 - 1,600 × 4.1)

= $12.10 × 40

= $484 Unfavorable

<h3 /><h3>Direct Labor:</h3>

Direct labor (DL) expenses in accounting are the costs connected with paying people to produce a product or perform a service. Workers must be explicitly involved in the production or delivery of the product or service. One of the costs associated with manufacturing a product or delivering a service is direct labor expenditures. Furthermore, direct labor costs differ from indirect labor expenses.

The following are some examples of direct labor costs:

1.Wages paid to assembly line workers in a manufacturing context.

2.Wages given to restaurant kitchen staff in a service setting.

Learn more about labor-hours:

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4 0
1 year ago
When you use the direct organizational plan for a routine message, you present the details before the primary idea?
12345 [234]
<span>The direct organizational plant for a routine message requires that you present the primary ideas first and then any supporting evidence. This plan emphasizes deduction, understanding the implications (details) of a central idea rather than presenting particulars first building toward the central idea of a message.</span>
4 0
3 years ago
The campus bookstore sells a campus mug for ​$10. When you buy a second campus mug​, ​however, its price is only ​$6. How does t
masya89 [10]

Answer:

Marginal utility is the benefit of consuming additional unit of a product and it is inversely proportional to price.

Explanation:

Utility is the satisfaction derived from consuming a particular product.

As consumption continues, marginal utility is the benefit of consuming additional units of the product. Marginal utility reduces as consumption increases.

So the consumer is less willing to buy at current price. However the consumer will be more willing to buy more at a reduced price.

The campus bookstore is using the knowledge of this by selling the first mu for $10 and subsequent one for $6. The consumer will still be willing to buy at the reduced price.

5 0
3 years ago
If a country imposes a tariff on imported shoes, we expect the domestic price of shoes to ______ .
boyakko [2]

If a country imposes a tariff on imported shoes, we expect the domestic price of shoes to rise, domestic consumption to fall, and domestic production to rise.

A levy on imported goods is known as a tariff. The use of an example is the simplest way to explain how it operates. The US lumber industry is the example we've used throughout this section, and it's continuing below. The domestic equilibrium price and quantity in the domestic market are $1,000 per board foot and 40 million board feet, respectively. PD = $1,000 and QD = 40,000,000 are used to represent this. The world price, or PW, in this instance is significantly less than the local price. While this is not always the case, if PW is higher than PD, there is no reason to import (This model assumes that imports are identical to domestic products in every respect except for price).

American customers will buy a lot more lumber if they can obtain imports for as little as $400. The number of units they will be demanded will rise to 70 million (40 million more than the domestic equilibrium). With the improved accessibility to inexpensive lumber, these consumers are vastly better off.

The imports, on the other hand, cause domestic producers to lose a significant amount of surplus. Previously, they could have provided 40 million board feet of lumber for $1,000, but now they can only provide 10 million. This is due to the fact that many domestic companies will either exit the market or reduce production since they can no longer compete with the foreign production.

60 million board feet of lumber are imported from Canada out of a total production of 70 million board feet, 10 million of which are produced domestically.

To lean more about Tariffs from the given link.

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3 0
1 year ago
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