Answer:
The ending inventory using the periodic inventory system and the weighted average cost method is $36.48
Explanation:
Weighted Average Method.
The average cost of goods held is recalculated each time a new delivery of goods is received. Issues are then priced out at this weighted average cost.
First Calculate the average cost per unit
average cost per unit = Total cost / total units
= ($30 + $60 + $56) / 24
= $6.08
Then calculate ending inventory cost
ending inventory cost = units at hand × average cost per unit
= 6 units × $6.08333
= $36.48
Conclusion :
The ending inventory using the periodic inventory system and the weighted average cost method is $36.48
The amount that will be recorded as a deferred tax liability during the year is $10800.
<h3>How to calculate the tax liability?</h3>
From the information given, the depreciation for tax purposes during the year was $36,000 greater than depreciation for financial reporting and a 30% tax rate will apply in the future.
Therefore, the amount that will be recorded as a deferred tax liability during the year will be:
= 30% × $3600
= 0.3 × $36000
= $10800
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Answer:
Deflation
Explanation:
Deflation is a fall in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0%. So when we say the price level in the united states falls relative to the price level of other countries, this signifies that the united state is moving toward or going through Deflation.
Answer and Explanation:
The computation is shown below:
a. The predetermined overhead rate is
= $660,000 ÷ 100,000
= $6.60
(b) The amount is
For Job 345, it is
= 560 hours × $6.60
= $3,696
And,
For Job 777, it is
= 800 hours × $6.60
= $5,280
(c) The journal entry is
Work in Process $8,976
To Factory Overhead $8,976
(Being the factory overhead applied is shown below:
= $3,696 + $5,280
= $8,976
Answer: Relationship selling
Explanation: In simple words, it refers to the strategy in which the seller focus on the communication and interaction between the buyer and seller rather than the product price and qualities.
It is done with the objective of gaining customer loyalty and making the customer base strong and rigid. It is implemented on existing markets and not on the potential customer base.
Hence from the above we can conclude that the correct answer is relationship selling.