When would you include an executive summary in a report?

Sheridan Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a co

ICE Princess25 [194]

Answer:

Ending inventory is $24,917.

Explanation:

Lower-of-cost-or-net realizable value method implies that whichever is lower between the cost per unit and the net realizable value per unit is used to value the ending inventory of an item.

The ending inventory can therefore be determined as follows:

For Cameras:

Units = 113

Cost per unit = $61

net realizable value per unit = $74

We choose cost per unit since it is lower and we have:

Cameras ending inventory = 113 * $61 = $6,893

For Blu-ray players:

Units = 153

Cost per unit = $77

net realizable value per unit = $50

We choose net realizable value per unit since it is lower and we have:

Blu-ray players ending inventory = 153 * $50 = $7,650

For iPods:

Units = 133

Cost per unit = $86

net realizable value per unit = $78

We choose net realizable value per unit since it is lower and we have:

iPods ending inventory = 133 * $78 = $10,374

Calculation of ending inventory:

Ending inventory = Cameras ending inventory + Blu-ray players ending inventory + iPods ending inventory = $6,893 + $7,650 + $10,374 = $24,917

8 0

2 years ago

During March, Patt, Inc. purchases and uses 8,800 pounds of materials costing $35,640 to make 4,000 tiles. Patt's standard mater

omeli [17]

Answer and Explanation:

The computation is shown below:

Total material cost variance

= (Standard quantity × standard price) - (actual quantity × actual price)

= (4,000 tiles × 2 pounds of material × $4) - (8,800 pounds × $35,640 ÷ 8,800 pounds)

= (8,000 pounds × $4) - ($8,800 pounds × $4.05)

= $3,640 unfavorable

For material price variance

= Actual Quantity × (Standard Price - Actual Price)

= 8,800 × ($4 - $4.05)

= $440 unfavorable

For material quantity variance

= Standard Price × (Standard Quantity - Actual Quantity)

= $4 × (8,000 pounds - 8,800 pounds)

= $3,200 unfavorable

The favorable variance is that in which the standard cost is more than the actual cost and the inverse goes to unfavorable variance

4 0

3 years ago

“The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrar

denis-greek [22]

John Maynard Keynes believed in government intervention into the economy to regulate the markets. Therefore, this statement would signify Keynes' view that B) government regulation is necessary to stabilize the economy.

5 0

3 years ago

Fenway Electronics produces video games in three market categories: commercial, home, and miniature. Fenway has traditionally al

Ivenika [448]

THAT LINK IS A VIRUS DO NOT GO TO IT ALL LINKS ARE VIRUSES and also if you go to “goggle” you should see a camera icon on the top right and take a picture of the question and maybe get the answer there

8 0

3 years ago

As a manager your organization is constantly confronted with a variety of changes in the market or a wide range of situations. Y

boyakko [2]

Answer:

C. Michael

Explanation:

The least preferred coworker scale is a method used to determine the leadership style of individuals. It was developed by Fred Fiedler and American scholar.

When a person gives positive feedback on coworkers they are more relationship oriented and get a high LPC score.

For those that give negative feedback on coworkers, they are task oriented and will get low LPC scores.

Relationship oriented style is used when employees are experienced and know what to do, while task oriented leadership is needed when the team is less experienced or results need to be delivered in a short time.

The organization is constantly confronted with a variety of changes in the market or a wide range of situations. So this requires a mix of both relationship and task oriented leadership to adapt to changing organisational needs.

Michael is the best option with middle LPC score.

7 0

3 years ago