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Maxim Corp. has provided the following information about one of its products:Date Transaction Number of Units Cost per Unit1/1 B

Vesnalui [34]

Answer:

$101,904.6

Explanation:

The computation of the cost of goods sold using the average cost method is shown below:

Beginnig Inventory 285 at $157 = $44,745

Purchases 485 at $177 = $85,845

Purchases 185 at $217 = $40,145

Total cost = $170,735

Now

Total number of units is

= 285 + 485 + 185

= 955

Now

Average Cost per unit is

= $170,735 ÷ 955

=$ 178.78

And, finally

Cost of goods Sold is

= 570 × $178.78

= $101,904.6

3 0

3 years ago

3. Prepare journal entries to record the machine’s disposal under each separate situation: (a) it is sold for $22,000 cash; (b)

Fofino [41]

Answer and Explanation:

The Journal entries are shown below:-

1. Cash Dr, $22,000

Accumulated depreciation-machine Dr, $148,800

($201,600 - $23,040 ÷ 6 × 5)

Loss on Sale of Machine Dr, $30,800

To Machine $201,600 ($192,000 + $8,000 + $1,600)

(To record Sale of the machine)

2. Cash Dr, $88,000

Accumulated depreciation-machine $148,800

($201,600 - $23,040 ÷ 6 × 5)

To Gain on Sale of Machine $35,200

To Machine $201,600

(Being Sale of the machine is recorded)

3. Cash Dr, $32,500

Accumulated depreciation-machine Dr, $148,800

Loss on disposal of Machine $20,300

To Machine $201,600

(Being Sale of the machine is recorded)

7 0

3 years ago

If textbooks and study guides are complements, then an increase in the price of textbooks will result in a. more textbooks being

julia-pushkina [17]

Answer:

d. fewer study guides being sold

Explanation:

If there is an increase in the price of textbooks, it is fair to assume that demand for textbooks will fall and, thus, textbooks sales will also fall. When goods are complements, a decrease in demand for a certain good means that its complements will also experience a similar decrease in demand. Since textbooks and study guides are complements, the sales of study guides will also fall.

Therefore, the answer is d. fewer study guides being sold

7 0

3 years ago

Jess, Frank, and Ted are coworkers at Crossroad Inc. Having worked at CI for five years now, the three are discussing their care

Papessa [141]

Answer:

c. affective commitment.

Explanation:

Based on the information provided within the question it can be said that in this scenario Ted is exhibiting affective commitment. This refers to the level of degree in which a person "wants" to continue working at the company in which they currently work. For Ted, he wants to continue working at CI because of the relaxed atmosphere and his friends. He does not feel a sense of debt to the company or believes he "needs" to stay, but instead decides he "wants" to stay everyday.

8 0

3 years ago

The top management of Kryptos Inc., a supplier of office stationery to large IT corporations, is involved in a meeting with its

liubo4ka [24]

Answer:

Jury of Executive Opinion

Explanation:

Jury of Executive Opinion method of sales forecasting employs the views of to management in various section. They are are experienced and have good knowledge of the market factors and are able to predict the expected sales. They are able to forecast sales figures through estimates and previous experiences. All internal and external factors are taken into account. Their judgements are pooled together and averaged in drawing the sales forecast of Kryptos Inc.

8 0

3 years ago

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