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HACTEHA [7]
2 years ago
5

Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 200 units at $30 7 Sale 160 units 15 P

urchase 180 units at $33 24 Sale 150 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 $fill in the blank 1 b. Inventory on October 31 $fill in the blank 2
Business
1 answer:
vagabundo [1.1K]2 years ago
4 0

Answer:

a. $4,830

b. $2,310

Explanation:

The computation is shown below:

a. The cost of goods sold as on Oct 24 is

Units sold from Oct 1 Inventory is 40 (200 units - 160 units)

And, From Oct. 15 Purchase is 110 (150 units - 40 units)

Now  

Cost of goods sold on October 24 is $4,830 (40 × 30) + (110 × 33)

b. The inventory as on Oct 31 is

= (180 - 110) × $33

= $2,310

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B. social and political pressures

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The forces that forced Religuard to shut down most of its manufacturing units are social and political pressures. This is simply forces created by social and political events occurring in the geographical location of the units in question. Some examples of these forces are changes in laws, climate change concerns in the population, protests, etc. In this scenario, the forces affecting the company are changes in environmental regulations.

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What are the limitations of gdp and gnp
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The limitations of GDP. GDP is a useful indicator of a nation's economic performance, and it is the most commonly used measure of well-being. However, it has some important limitations, including: The exclusion of non-market transactions.

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Jerome Corporation's bonds have 15 years to maturity, an 8.75% coupon paid semiannually, and a $1,000 par value. The bond has a
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Explanation:

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If the government wants to increase production of a good to achieve marginal social benefit, then the following policy will most
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a. a subsidy so that the firm can operate where marginal social benefit equals marginal social cost.

Explanation:

The private company is producing when the marginal revenue matches the marginal cost. The governemtn will want to decrease the cost (that's by subsidize the activity) to match the marginal revenue considering the positive externalities.

The government will do a pigouvian subsidy.

The government reasons to go for this is that the good or services provide positive externalities Which are enjoy by people who doens't purchase the good. Thus, this subsidy will increase the amount of ooutput thus, generating a better social benefit.

6 0
3 years ago
PA1.
kolezko [41]

Question: Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs:

                                          Small       Medium     Large

Units                                 32,000       12,000      4,000

Direct Material cost             $5              $8            $9

Direct Labor Hrs / Unit       4 Hrs         6 Hrs       10 Hrs

If the labor rate is $25 per hour, what is the per-unit cost of each product?

Answer:

Step 1: Identify Absorption Basis

Here, absorption basis is Labor hours.

Step 2: Find the Overhead Absorbed Rate by dividing total Overhead by total absorption basis.

The formula is as under:

Overhead Absorbed=Total Overhead / Total Absorption Basis... Equation 1

By putting values in Equation 1:

Overhead absorption Rate OAR =$480,000 / 240,000 Machine Hrs = $2 per Labor hour

Step 3: Now calculate overhead per unit for product Small, Medium and Large by simply multiplying OAR with Direct Labor hours consumed per unit

Overhead per unit for Product X= OAR * Direct Labor hours consumed per Product X....................Equation 2

Now simply put the values in Equation 2 of direct labor used by each product and calculate Overhead per unit.

For Product Small:

Overhead per unit for Product Small=  $2 * 4 direct labor hours= $8 per unit

For Product Medium:

Overhead per unit for Product Medium=  $2 * 6 direct labor hours= $12 per unit

For Product Large:

Overhead per unit for Product Large=  $2 * 10 direct labor hours= $20 per unit

Step 4: Add the per unit prime cost to Overhead cost per unit calculated in the Step 3 to calculate the total unit cost of the product. Prime cost is the sum of all direct costs. In this question, Prime cost includes Direct labor cost and Direct material cost.

Now first of all find prime cost of each product by using following formula:

Prime cost per unit for Product X= (Direct material cost per unit of Product X) + (Direct labor cost per unit of Product X)............Equation 3

Thereafter add prime cost to overhead unit cost calculated in step 3.

For Product Small:

Prime cost per unit for Small= ($5 per unit) + ($25 per direct labor hour * 4 number of direct labor hours)=$5 per unit + $100 per unit= $125 per unit

Total Unit cost of product Small= Overhead cost per unit for Small + Prime cost per unit for Small =$125 per unit + $8 per unit=$133 per unit

For Product Medium:

Prime cost per unit for Medium= ($8 per unit) + ($25 per direct labor hour * 6 number of direct labor hours)=$5 per unit + $150 per unit= $155 per unit

Total Unit cost of product Medium= Overhead cost per unit for Medium + Prime cost per unit for medium =$155 per unit + $12 per unit=$167 per unit

For Product Large:

Prime cost per unit for Large= ($9 per unit) + ($25 per direct labor hour * 10 number of direct labor hours)=$9 per unit + $250 per unit= $259 per unit

Total Unit cost of product Large= Overhead cost per unit for Large + Prime cost per unit for Large =$259 per unit + $20 per unit=$279 per unit

6 0
3 years ago
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