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
mojhsa [17]
3 years ago
11

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

lable. Units Unit Cost Total Cost April 1 inventory 250 $14 $ 3,500 April 15 purchase 420 17 7,140 April 23 purchase 330 18 5,940 1,000 $16,580 Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit $enter weighted average cost per unit in dollars rounded to 2 decimal places LINK TO TEXT Compute the April 30 inventory and the April cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 2,760.) Ending inventory $enter the ending inventory in dollars rounded to 0 decimal places Cost of goods sold
Business
1 answer:
Mars2501 [29]3 years ago
8 0

Answer:

Marigold Company

Cost of goods sold = $9,119

Ending inventory = $7,461

Explanation:

a) Data and Calculations:

                            Units    Unit Cost    Total Cost

April 1 inventory    250         $14            $ 3,500

April 15 purchase  420           17                 7,140

April 23 purchase 330           18                5,940

Total                    1,000                           $16,580

Weighted-average costs   $16.58

Sales                     550

Cost of goods sold = 550 * $16.58 = $9,119

Ending inventory = 450 * $16.58 = $7,461

b) The first computation is for the total cost of goods available, which is then divided by the total units available for sale.  This gives the weighted-average cost per unit.  This unit cost is then multiplied with the units of ending inventory and sales to obtain the cost of the ending inventory and the cost of goods sold, respectively.

You might be interested in
When consumers need to purchase a refrigerator, they usually evaluate different models across a set of features or characteristi
irinina [24]

Answer:

The correct answer is attribute-based evaluation.

Explanation:

The products are susceptible to an analysis of the tangible and intangible attributes that make up what can be termed as their personality.

This analysis is carried out through the evaluation of a series of factors that allow dissection of the product, starting from the central elements to the complementary ones, so that in view of both ours and those of the competition, we can elaborate the marketing strategy that allows us to position the product in the market in the most favorable way. In any case, the different factors that we include below have to serve us only as a script or reference, since depending on the product that we commercialize other totally different attributes will be studied.

4 0
3 years ago
The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s An
frozen [14]

Answer:

Please refer the journal entries below

Explanation:

Trade Discount:

There is no accounting entry for the trade discount, trade discount is simply deducted from the total amount and the entry is passed after incorporating the trade discount

1) Audrey’s Antiques

Since Audrey’s Antiques have taken the services amounting more than $1,000, they are eligible for the trade discount of 12% i.e. ( 12% of $1,900) = $228, hence Income will be recorded at ($1,900 - $228) = $ 1,672

Advertising Fee Receivable      Debit      $ 1,672

Advertising Fee Income             Credit     $ 1,672

2) Michael’s Motors

Since Michael’s Motors have taken the services amounting less than $1,000, they are not eligible for the trade discount of 12%

Advertising Fee Receivable      Debit      $ 540

Advertising Fee Income             Credit     $ 540

3 0
3 years ago
_________ are typically responsible for planning and allocating resources to meet organizational objectives. to answer, type onl
Elden [556K]
A. Is the answer you are looking for
7 0
3 years ago
Read 2 more answers
The present value of an annuity considers which of the following factors? I. the timing of each cash flow II. the amount of each
Nitella [24]

Answer:

All of them.

Explanation:

For considering the annuity formula we can determinate all the proposed factor:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C represent II the amount of each cash flow

r = represent the discopunt rate

while time or "n" represent the numebr of cashflow we have to calcualte the present value.

The timing refer wether the payment are made at the beginning or end of the period.

When made at the beginning it is an annuity-due

and the (1+r) factor multiplies the previous formula to represent the addtional period of capitalization each cashflow has or the one period less to discount for each cashflwo in cases of prresent value.

8 0
3 years ago
A common problem in surveying is to determine the altitudes of a series of points with respect to some reference point. The meas
iVinArrow [24]

<u>Answer:</u>

<em>During</em><em> light downpour or day off,</em><em> teams can work; be that as it may, at whatever point the downpour or snow is </em><em>influencing perceivability</em><em> or there is lightning, a field group ought not be working. </em>

<u>Explanation:</u>

A <em>common problem in surveying</em> is to determine the altitudes of a series of points with respect to some reference point.

The <em>measurements are subject to error</em>, so more observations are taken than are strictly necessary to determine the altitudes, and the resulting over determined system is solved in the <em>least-squares sense to smooth out errors. </em>

5 0
3 years ago
Other questions:
  • Jasper Company has a defined benefit pension plan. Effective at the beginning of the current year, the company retroactively ame
    8·1 answer
  • You are considering replacing your aging propane furnace for a natural gas model. The propane model originally cost $2,200, will
    15·1 answer
  • Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers
    6·1 answer
  • Elijah is a warehouse production manager and has been assigned a complex project that might result in lengthy delays. in order t
    9·1 answer
  • Dunwich is a small village; in 2014, its GDP was $10,000 and its population was 10 people. In 2015, GDP in Dunwich decreased to
    7·1 answer
  • The goal of an intermittent strike is to: Minimize costs to the employer. Irritate consumers so they will apply pressure on the
    12·1 answer
  • Alex Guadet of Nashville, Tennessee, has been renting a two-bedroom house for several years. He pays $900 per month in rent for
    6·1 answer
  • Natural resources occur in the environment.
    7·1 answer
  • What reasons might people have to go into debt? Give two examples. <br> HRGGGGGHH
    8·2 answers
  • Which tool(s) of monetary policy would the Federal Reserve use if it wanted to increase the money supply?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!