1. If the current allocation of resources in a market for a certain good is efficient, then it must be the case that

Perpetual Inventory Using LIFOBeginning inventory, purchases, and sales data for prepaid cell phones for May are as follows:Inve

Ivan

Answer:

<u>Date Purchases Sales </u>

May 1 1,550 units at $44

May 10 720 units at $45

May 12 1,200 units

COGS (720 x $45 = $32,400)

COGS (480 x $44 = $21,120)

TOTAL COGS FOR MAY 12 SALE = $53,520

Inventory after sale 1,070 units at $44

May 20 1,200 units at $48

May 14 830 units

COGS (830 x $48 = $39,840)

TOTAL COGS FOR MAY 14 SALE = $39,840

Inventory after sale 1,070 units at $44

370 units at $48

May 31 1,000 units

COGS (370 x $48 = $17,760)

COGS (630 x $44 = $27,720)

TOTAL COGS FOR MAY 12 SALE = $45,480

Inventory after sale 440 units at $44

Under LIFO (last in, first out), the cost of goods sold is determined using the price of the last units purchased, which means that the most recent (or updated) price is used to calculate COGS.

7 0

3 years ago

Are leadership and management the same thing?

Fiesta28 [93]

No I think that in order to be a management you have to be a leader. If your a manager then your leading your employees if your not a leader you can’t properly do the manager job.

8 0

3 years ago

Why Do Organizations not change in response to environmental pressures?

Elina [12.6K]

Answer:

It often proves difficult to actually realize the change that you have come up with. Especially when it comes to cultural or behavioral change. We want to show that change is not so much something that you have to get others to join. You have to make your change part of it

3 0

3 years ago

Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $15 per basketball and

SVETLANKA909090 [29]

I think the answer is <span>unit-elastic over this price range. This happens when a company earns the same revenue even with some slight changes on the prices. It means that slight increase or even decrease in price does not affect the revenue of the company.</span>

6 0

3 years ago

Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of

gizmo_the_mogwai [7]

Answer:

$27.2

Explanation:

First we have to calculate the total estimated manufacturing overheads which shall be determined as follows:

Estimated total manufacturing overheads=Variable manufacturing overhead+ Fixed manufacturing overheads

Variable manufacturing overhead=Estimated labour hours*manufacturing overhead per labour hour

=75,000*$10.70=$802,500

Fixed manufacturing overheads=$1,237,500

Estimated total manufacturing overheads=$802,50+$1,237,500

=$2,040,000

Now we will compute the predetermined overhead rate which shall be determined using the following formula:

Predetermined overhead rate=Estimated total manufacturing overheads/Estimated labour hours

Predetermined overhead rate=$2,040,000/75,000=$27.2

3 0

3 years ago