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Alexandra [31]
3 years ago
12

Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1

Beginning Inventory 200 $ 140 6/5 Purchase 400 $ 160 11/10 Purchase 100 $ 200 During the year, Maxim sold 400 units. What is cost of goods sold using the average cost method
Business
1 answer:
aniked [119]3 years ago
5 0

Answer:

$64,000

Explanation:

Calculation to determine the cost of goods sold using the average cost method

First step is to calculate the Average cost

Average cost = [(200 × $140) + (400 × $160) + (100 × $200)] ÷ 700 units

Average cost= $160

Now let calculate the Cost of goods sold

Cost of goods sold = $160 × 400 units

Cost of goods sold = $64,000

Therefore the cost of goods sold using the average cost method will be $64,000

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Classify​ Lawlor's costs as period costs or product costs. If the costs are product​ costs, further classify as direct​ material
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product cost ( direct materials,direct labour and manufacturing overheads).

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Explanation:

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3 years ago
If a company adds 60 new workstations at a cost of $100,000 each and also spends $20 million for addition in its camera/drone as
vredina [299]

Answer:

$1,300,000

Explanation:

Given:

Number of workstation = 60

Cost of each workstation = $100,000

Additional Cost = 20,000,000

Computation of total cost:

= Total work station cost + Additional cost

= ($100,000 x 60) + $20,000,000

= $6,000,000 + $20,000,000

= $26,000,000

Assume Depreciation rate = 5%

Deprecation = Total Cost x Depreciation rate

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5 0
3 years ago
A company that manufactures and sells kitchen scrubbing sponges has significantly lower cost structures than its competition. Th
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The correct answer is “Pricing below competitors”.

Explanation:

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2 years ago
Excerpts from Dowling Company's December 31, 2018 and 2017, financial statements and key ratios are presented below (all numbers
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Answer:

Option (A) is correct.

Explanation:

Given that,

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Net income = $20

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Return on equity = Return on assets × Equity multiple

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Therefore, Dowling's return on equity for 2018 is 24.3%.

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