Answer:
$86,000
Explanation:
FIFO means first in, first out. It means that the first purchased inventory is the first to be sold.
This means thay the 500 units sold would be taken from the earliest purchased inventory and the ending inventory would be the most recently purchased inventories.
Ending inventory = (80 × $150) + (370 × $200) = $12,000 + $74,000 = $86,000
I hope my answer helps you
The present value of the cash-flow stream if the interest rate is 6% is $323.03.
<h3>What is the interest rate?</h3>
The interest rate can be defined as the amount or the percentage that is being fixed or fluctuating depending upon the condition of the agreement. The interest is calculated on the amount that is being loaned or given to the individual or a company.
According to the given question, the interest rate is 6%
1st year $120
2nd year $320
3rd year $220
Now, by applying the formula for the present value:
= 113.20 + 284.96 + 184.87
= 323.03
The present value of the cash flow stream is $323.03
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Answer: $1,200,000
Explanation:
The firm should include $1,200,000 as the cost of the Manufacturing facility for a new project in it's analysis.
This is because $1,200,000 is the opportunity cost of not selling the facility. The old costs that were incurred for the land and the facility are to be considered sunk costs as they have already been incurred and the only relevant cost now is what the market will pay for the facility which is $1,200,000.
Answer and Explanation:
The Journal entry is shown below:-
1. Cash Dr, $31,770
To Common stock $31,770
(Being issuance of shares for cash is recorded)
2. No Journal Entry is required
3. Office furniture Dr, $3,740
To Accounts payable $3,740
(Being purchase of office furniture on credit is recorded)
4. Accounts receivable $10,430
To service revenue $10,430
(Being customer billed for service is recorded)
5. Cash $185
To credit revenue $185
(Being cash received for service is recorded)
6. Accounts payable $800
To cash $800
(Being cash paid for office furniture purchased is recorded)
7. Salaries expense Dr, $3560
To cash $3560
(Being salary paid is recorded)
Answer:
Volume variance $1,320 Favorable
Explanation:
The fixed overhead volume variance is the difference between the actual and budgeted production unit multiplied by the standard fixed production overhead cost per unit.
Standard fixed overhead cost per unit = $11×6 = 116
Units
Budgeted units 375
Actual units <u>395</u>
Volume variance 20
Standard fixed overhead cost <u>× $66
</u>
Volume variance <u> $1,320 Favorable</u>
