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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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Which of the following statements is correct? Managers will be more likely to pursue projects that will benefit the entire compa
PilotLPTM [1.2K]

Answer:

A.Incorrect

B. Incorrect

Explanation:

a) A manager might reject a proposal using ROI that the manager would accept using residual income

The statement is incorrect. The reverse is true. Using ROI entails the manager comparing the ROI after a project to the ROI before, where implementing a project makes the ROI after to be less than what it before the project, the Manager would most likely not implement the project. This would happen notwithstanding that the project  produces positive residual income.

b) Managers will be more likely to pursue projects that will benefit the entire company when being evaluated on ROI instead of residual income.

This statement is incorrect. ROI makes the manager to pursue his own interest and that of its division at the expense of the group objectives. It leads to sub-optimal decision

3 0
3 years ago
Atlantic Corporation reported the following amounts at the end of the first year of operations: contributed capital $100,000; sa
romanna [79]

Answer:

A) retained earnings $40,000 and expenses $340,000.

Explanation:

Total Assets = Total Equity + Total Liabilities

$300,000 = Total Equity + $160,000

Total Equity = $300,000 - $160,000

Total Equity = $140,000

Now

Total Equity = Contributed Capital + Retained Earning

$140,000 = 100,000 + Retained Earning

Retained Earning = $140,000 - $100,000 = $40,000

Now

Retained Earning = Revenue - Expenses - Dividend paid

$40,0000 = $400,000 - Expenses - $20,000

$40,0000 = $380,000 - Expenses

Expenses = $380,000 - $40,000

Expenses = $340,000

3 0
3 years ago
At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete
elena-s [515]
I think the answer is probably C
6 0
3 years ago
Karina looked at her paycheck stub. Her gross pay was $245 and her net pay was $200. How much did she have in deductions?
sammy [17]
How much did she have in deductions? $45
7 0
3 years ago
Read 2 more answers
Braun Company has one service department and two operating (production) departments. Maintenance Department costs are allocated
11111nata11111 [884]

Answer:

$154,900

Explanation:

The computation of the total cost of operating the assembly department as follows:

= Direct expenses of assembly department + allocated amount

= $123,400 + $52,500 × 69,000 ÷ (69,000 + 46,000)

= $123,400 + $52,500 × 69,000 ÷ 115,000

= $123,400 + $31,500

= $154,900

8 0
3 years ago
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