Answers
The complete question:
Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 29 units for $50 each.
Purchases on December 7 20 units at $20.00 each
Purchases on December 14 34 units at $30.00 each
Purchases on December 21 30 units at $36.00 each
Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per-unit costs to 2 decimal places.)
Answer:
Trey MonsonDetermination of the cost of Ending Inventory based on the Weighted Average Method:Date Quantity Unit Cost Total Cost
Dec. 7 Purchase 20 $20 $400
Dec. 14 Purchase 34 30 1,020
Total 54 26.30 $1,420 .20
Dec. 15 Sale -29 26.30 -762.70
Dec 15 Balance 25 26.30 $657.50
Dec. 21 Purchase 30 36 1,080
Dec. 21 Available 55 31.59 $1,737.50
Dec. 31 Ending Inventory 55 $31.59 $1,737.50
Explanation:
To use the weighted average method, we divide the cost of goods available for sale by the number of units available for sale, which yields the weighted-average cost per unit. The cost of goods available for sale is the sum of beginning inventory and net purchases.
Related Questions
What entry would make to adjust the manufacturing overhead account for overallocated or underallocated overhead?
Answers
Answer:
Adjustments
1. Overallocated Manufacturing Overhead:
Debit Manufacturing Overhead
Credit Cost of goods sold
With the amount of overallocated manufacturing overhead.
2. Underallocated Manufacturing Overhead:
Debit Cost of goods sold
Credit Manufacturing Overhead
With the amount of underallocated manufacturing overhead.
Explanation:
When the manufacturing overhead is overallocated, the account has a credit balance. To adjust the entry, the account is debited while the cost of goods sold is credited. This reduces the cost of goods sold by the amount of the overallocation. The opposite takes place with an underallocated overhead. The purpose of the latter is to increase the cost of goods sold to reflect the overhead expense for the period.
reviewing the recent experience of the US in global markets reveals that
Answers
Reviewing the recent experience of the US in global markets reveals that America's standing as a global leader has been challenged by the rise of new global economic powers, such as China and India. Despite this, the US remains the world's largest economy and has the world's reserve currency, the US dollar.
As such, it maintains significant influence in global markets.The US has also been engaged in numerous trade disputes, including with China and the European Union. Additionally, the US has recently pursued a policy of protectionism, which has included the imposition of tariffs on imported goods.
This has had both positive and negative impacts on the US economy and its standing in the global marketplace.The US has also recently renegotiated trade deals, such as the United States-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement (NAFTA).
The US has also withdrawn from the Trans-Pacific Partnership (TPP) and the Paris Climate Agreement, which have drawn criticism from other nations and has further impacted the US's standing in the global community.
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Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?
Answers
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= u + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find u
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( \(\frac{p-c}{p-v}\) )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200\(\sqrt{n}\) = 400
What do you think were the major equity issues faced by health care workers during the pandemic?
Answers
Answer:
f
Explanation:f
Hope this works
ABC's sales equal $60,000 and cost of goods sold equals $20,000. Its beginning inventory was $1,600 and its ending inventory is $2,400. ABC's inventory turnover ratio equals how many times a year?
A) 5 times.
B) 30 times.
C) 10 times.
D) 20 times.
Answers
Answer:
C) 10 times
Explanation:
Calculation to determine ABC's inventory turnover ratio equals how many times a year
Using this formula
Inventory turnover ratio =Cost of goods sold equals /Average inventory
Let plug in the formula
Inventory turnover ratio=$20,000/[($1,600+$2,400)/2]
Inventory turnover ratio=$20,000/($4,000/2)
Inventory turnover ratio=$20,000/$2,000
Inventory turnover ratio=10 times
Therefore ABC's inventory turnover ratio will equals 10 times a year
ABC's sales equal $60,000 and cost of goods sold equals $20,000. The, ABC's inventory turnover ratio equals to 10 times a year.
What is Inventory Turnover ratio?
Inventory turnover ration represents the total inventory that is sold, but and replaced by person. It can be calculated by dividing cost of goods sold by average inventory.
Calculation to determine ABC's inventory turnover ratio:-
Inventory turnover ratio =Cost of goods sold equals /Average inventory
Inventory turnover ratio=$20,000/[($1,600+$2,400)/2]
Inventory turnover ratio=$20,000/($4,000/2)
Inventory turnover ratio=$20,000/$2,000
Inventory turnover ratio=10 times
Therefore, correct option is C.
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your company will need a business plan in order to do what?
A. Increase revenue.
B. Identify an opportunity.
C. Pay taxes.
D. Get funding.
Answers
Answer: D. Get Funding
Explantion: You company will need a business plant in order to get funding because you'd need to present your investors with the future of your business and what it's there to do. I also happened to take the assessment and it was marked correctly.
I hope this helped!
Good luck <3
Your company will need a business plan in order to get funding. Hence, the correct answer is option D.
What is a business plan?A business plan is a formal document that outlines a company's goals, strategies, and projected outcomes. One of the primary reasons for creating a business plan is to secure funding from investors or financial institutions. By presenting a well-written and comprehensive business plan, a company can demonstrate its viability and potential for success, which can increase its chances of obtaining the necessary funding to start or grow the business.
While a business plan can help a company increase revenue and identify opportunities, those outcomes are not the primary purpose of a business plan. Paying taxes is a legal requirement for all companies, but a business plan is not directly related to tax obligations.
Therefore, a company will need a business plan in order to get funding. Hence, the correct answer is option D.
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Something necessary to remain alive is a (an).
Answers
Answer:
an apartment
Explanation:
Which of these is an example of a monopoly? Utility companies Soda companies Airlines Computer companies
Answers
Utilities firms are one example of a monopoly among the possibilities given. When they are the exclusive provider of these necessary services in a certain region, utility firms, such as those that provide electricity, water, or natural gas, frequently act as Monopoly. As a result, customers are virtually forced to adopt the services offered by the local utility company since they have no other alternatives.
The Landlord's Game, which was developed by Lizzie Magie in the United States in 1903 to advance Henry George's economic theories, particularly his views on taxation, and to show that an economy that rewards Utilities individuals is preferable to one in which monopolies hold all the wealth, is the source of Monopoly.
The Landlord's Game originally featured two sets of rules, one that included taxes and another that serves as the foundation for the present regulations.
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Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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Which option is the best example of a short-term savings goal?
Answers
Answer:
You need to provide the answer options for people to be able to answer your question.
Explanation:
Answer: buying concert tickets
Explanation: just took the test
If the amount of gasoline purchased per car at a large service station has a population of $15 and a population standard deviation of$4 then 99.73% of all cars will purchase between $3 and $27
Answers
The range between $3 and $27 is three standard deviations away from the mean.
Since we know that 99.73% of the data falls within three standard deviations of the mean, we can estimate that 99.73% of all cars will purchase gasoline between $3 and $27.
According to the given information, the population mean is $15, and the population standard deviation is $4.
This means that 99.73% of all cars will purchase gasoline within three standard deviations of the mean, using the empirical rule.
Therefore, we can use the empirical rule to estimate the percentage of cars that will purchase gasoline between $3 and $27.
The empirical rule is also known as the 68-95-99.7 rule, which states that:Approximately 68% of the data falls within one standard deviation of the meanApproximately 95% of the data falls within two standard deviations of the meanApproximately 99.7% of the data falls within three standard deviations of the mean.
To find the number of standard deviations that correspond to $3 and $27, we need to calculate the z-scores.
The z-score formula is given as:z = (x - μ) / σwhere z is the standard score, x is the value of the variable, μ is the population mean, and σ is the population standard deviation.
To find the z-score for $3, we plug in the values:z = (3 - 15) / 4z = -3To find the z-score for $27, we plug in the values:z = (27 - 15) / 4z = 3.
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1.Why is knowledge of consumer behavior important to the marketer?
Answers
The knowledge of consumer behavior is extremely important to the marketer in order to provide the customers with best possible products and earning profit for himself sideways.
CONSUMER BEHAVIOR is the study of consumers and the processes they use to select the product. It particularly deals with the psychological of the customer i.e., What the think? What they want? What are the trends they are interested in? At what price do they feel comfortable? And so on.
When the marketer understands the mental state of the consumer then he/she becomes fit to earn and compete with his fellow marketers. This enables him to provide the customers with the products of their choice at reasonable prices. This is how he sustains in market and earns profit.
Example: a marketer understands that customers are attracted by discounts. So he would increase the actual cost of product and increase the discount price. The selling price is not changed but since the customer thinks he is getting more discount, he is attracted.
Consumer Behavior is of great significance to marketers because it helps them to survive in the industry. It helps them to analyze business trends and helps to keep up with their competitors. It also helps to retain their customers.
Consumer buying behavior refers to the analysis of consumers' actions when selecting whether to get a good that meets their needs. it's an investigation into how customers behave and what motivates them to purchase and use particular goods.
The study of consumer purchasing behavior is crucial for marketers because it helps them comprehend what customers anticipate from them. Understanding what prompts a consumer to get a product is useful.
The importance of consumer behavior to marketers is discussed below:
Consumer diversification: It's a technique used in marketing to set one consumer apart from a group of related consumers. This aids in creating a target market of consumers who exhibit the same or comparable behavior.Customer Retention: Consumer behavior is incredibly crucial for both attracting new consumers and keeping hold of current ones. A satisfied customer is more likely to form the same purchase in the future. Therefore, it's important to sell the product in a way that encourages repeat purchases from customers.Forecasting Demand Patterns: By doing a consumer behavior analysis, a business can avoid spending plenty of money and energy on creating a product that won't be popular with customers.Competitiveness: Understanding and handling the competition are made easier by studying consumer behavior. Your brand may have a competitive edge supported consumer expectations.Develop Unique New Technologies: Businesses continually exerting to increase the likelihood that their novel ideas or new products will succeed. Amongst the foremost crucial methods is to carry out a thorough and careful study of consumer behavior.Learn more about consumer behavior : https://brainly.com/question/9566137
On January 1, a company purchased a five-year insurance policy for $3,600 with coverage starting immediately. If the purchase was recorded in the Prepaid Insurance account, and the company records adjustments only at year-end, the adjusting entry at the end of the first year is:
A. Debit Prepaid Insurance, $2.880; credit Insurance Expense, $2,880.
B. Debit Prepaid Insurance, $3,600; credit Cash, $3,600.
C. Debit Insurance Expense, $720; credit Prepaid Insurance. $2.880.
D. Debit Insurance Expense. $720; credit Prepaid Insurance, $720.
E. Debit Prepaid Insurance. $720; credit Insurance Expense, $720
Answers
Please Help ASAP!
2. Identify at least three factors that may influence Eric's decision, including Eric's savings and any ways he could reduce the total cost of the loan.
Answers
The three factors that influence Eric's decisions are the lowest rate of return along with the shorter duration of time.
What is Loan?A Loan is referred to as the amount which an individual borrows from a financial institution at a certain rate of interest to start any business or to fulfill their needs.
When Applying for any loan it is important to conduct research about the rate of return which helps in saving a large rate of income for an individual.
While making a decision for a loan, it should be determined which financial institution provides maximum facility on any Loan in order to repay it timely and reduce the burden on an individual.
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Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:
1. What is the materials quantity variance for March?
2. If Preble had purchased 171,000 pounds of materials at $7.20 per pound and used 155,000 pounds in production, what would be the materials quantity variance for March?
3. What is the labor rate variance for March?
4. What is the labor efficiency variance for March?
5. What is the labor spending variance for March?
Answers
Labor efficiency variance = (Actual hour * Standard rate) - (Standard hour * Standard rate).
Labor efficiency variance = $404,600 F
What is Labor efficiency variance?By "efficiency of labor," we mean a worker's ability to produce more or better work, or both, over the course of a given amount of time.
1) Labor efficiency variance = (68,000 * $17) - ((30,600 * 3) * $17)
Labor efficiency variance = $1,156,000 - (91,800 * $17)
Labor efficiency variance = $404,600 F
2) Variance in direct labor worked divided by variance in labor efficiency
Variance in labor costs is $404,600 - $68,000.
Variance in labor costs = $336,600 F
3) Planned unit sold minus variable overhead equals variable manufacturing overhead cost.
Manufacturing variable overhead cost = 24,000 * $21
$504,000 is the variable manufacturing overhead cost.
4) Planned unit sold minus variable overhead equals variable manufacturing overhead cost.
Cost of variable overhead in production = 30,600 * $21
$642,600 is the variable manufacturing overhead cost.
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Assume that the risk-free rate is 4.5% and the market risk premium is 6%.
What is the expected return for the overall stock market? Round your answer to two decimal places.
%
What is the required rate of return on a stock with a beta of 0.8? Round your answer to two decimal places.
%
Answers
Expected return for the overall stock market = Risk free rate of return + market risk premium = 4.5% + 6% = 10.50%
Required rate of return on stock = Risk free rate of return + beta of the stock (Expected return for the market - risk free rate of return) Required rate of return on stock = 4.5% + 0.8 (10.50% - 4.5%) = 4.5% + 4.80% =Required rate of return on stock = 9.30%The entire market value of all publicly traded securities worldwide climbed from US$2.5 trillion to US$93.7 trillion by the end of 2020.As of 2016, there were 60 stock exchanges worldwide. The market capitalization of 16 of these exchanges is at least $1 trillion, and
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Which of the following would cause consumers to demand fewer slices of pizza?
A. an increase in the supply of pizza slices
B. a decrease in the supply of tacos
C. an increase in the price of pizza slices
Answers
Answer:
C.
Explanation:
All the others make the supply of pizza larger, or high demand
There are over 850 occupations that can be learned through an apprenticeship.
Answers
Answer:
When evaluating possible careers, you should match the career information you researched to your personal interests and resources. How can you make sure you are being realistic when setting goals?
Calculating Returns and Variability (LO1) You’ve observed the following returns on Regina Computer’s stock over the past five years: 7%, −12%, 11%, 38%, and 14%. a. What was the arithmetic average return on Regina’s stock over this five-year period? b. What was the variance of Regina’s returns over this period? The standard deviation?
Answers
The arithmetic average return that Regina Computer stock saw on its returns over the five years was 11. 6 %
The variance of the returns over the period was 320.3, and the standard deviation was 17.9 %
How to find the arithmetic mean?The arithmetic mean on returns can be found by summing up all the returns and then dividing this by the number of returns.
The arithmetic mean to Regina stock in the five year period was therefore:
= (7 % + - 12% + 11 % + 38 % + 14 % ) / 5
= 58 % / 5
= 11. 6 %
Using this mean, the variance can be found on a spreadsheet to be 320.3.
The standard deviation is the square root of variance so the standard deviation of Regina Computer stock in the past 5 years is:
= √ Variance
= √ 320.3
= 17.89
= 17.9 %
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Barga Co.'s net sales for Year 1 and Year 2 are $663,000 and $744,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $64,000; and Year 2, $91,000. Complete the below table to calculate the days' sales uncollected at the end of each year.
Days' Sales Uncollected
Choose Denominator: / Choose Numerator: * Days = Days' Sales Uncollected
Year 1: days
Year 2: days
Answers
Answer:
Year 1 = 35.23 days
Year 2 = 44.64 days
Explanation:
Days' Sales Uncollected = Accounts receivable / Net Sales * Days
Year 1 = $64,000 / $663,000 * 365 days = 35.23 days
Year 2= $91,000 / $744,000 * 365 days = 44.64 days
How can health care professional prepare for working with various groups
Answers
Answer:
https://study.com/academy/answer/how-can-healthcare-professionals-prepare-for-work-with-various-age-groups.html here is where the answer is
Explanation:
The commissioner obtains a restraining order against a person who has violated an insurance law. The person continues the violation for 10 days. The person has to pay a fine of, how much?
Answers
Based on the fact that the person continued to violate the restraining order, the fine that the person has to pay is $0.00.
How much should the person pay?When a restraining order is issued for insurance law, there is a period of 10 days that the fines would not take effect in.
This means that the person can keep committing the violation within those ten days without having to pay any fines so the amount this person will pay is $0.00.
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what is the answer to this picture
Answers
Developed
Developing Nation
Hope this helps!
Wolf Company is giving a net bonus check of $500 to all of its employees. If each of the payments are subject to FIT (22% supplemental rate) and FICA taxes, but no state taxes, the gross amount of each bonus check would be
a. $662.75
b. $710.73
c. $663.75
d. $656.00
e. None of these choices are correct.
Answers
Answer:
e. None of these choices are correct.
Explanation:
Calculation for the gross amount of each bonus check
Using this formula
Gross amount=Net bonus/(1-Supplemental rate-
FICA taxes)
Note that FICA taxes includes :
Social Security tax = 6.2%
Medicare tax on earnings=1.45%
Let plug in the formula
Gross amount=$500/(1-22%-6.2%-1.45%)
Gross amount=$500/(1-14.35%)
Gross amount=$500/0.1335
Gross amount= $3,745.32
Therefore the gross amount of each bonus check would be $3,745.32
Wolf Company is giving a net bonus check of $500 to all of its employees. If each of the payments are subject to FIT (22% supplemental rate) and FICA taxes, but no state taxes, the gross amount of each bonus check would be
How is emotional intelligence related to motivation?
Answers
Answer:
Emotional intelligence means being self-motivated
Self-motivation relates to internal drive. Emotionally intelligent individuals understand the deeper meaning of their goals and the self-motivation skills required to achieve them.
Answer:
The results show that emotional intelligence is positively related to positive emotions and negatively related to negative emotions. Positive emotions positively predict both self-motivation towards physical education classes and resilience. Resilience positively predicts self-motivation.
What are the two components needed for successful lobbying?
Answers
Last year Burch Corporation's cash account decreased by $29,000. Net cash provided by (used in) investing activities was $8,400. Net cash provided by (used in) financing activities was $(26,500). On the statement of cash flows, the net cash provided by (used in) operating activities was:
Answers
Answer:
The answer is "-10,900"
Explanation:\(\text{Cash from operating activities} + \text{cash from investing activities + cash from financing activities} = -29,000\)
\(\text{cash from operating activities}\) \(+ 8,400 - 26,500 = -29,000\)
\(= -29,000 + 26,500 - 8,400\\\\= -10,900\)
The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.
MOTO HOTEL Trial Balance May 31, 2017
Debit Credit
Cash $2,403
Supplies 2,600
Prepaid Insurance 1,800
Land 14,903
Buildings 70,000
Equipment 16,800
Accounts Payable $4,603
Unearned Rent Revenue 3,300
Mortgage Payable 36,000
Common Stock 59,903
Rent Revenue 9,000
Salaries and Wages Expense 3,000
Utilities Expense 800
Advertising Expense 500
$112,806 $112,806
Other data:
1. Insurance expires at the rate of $450 per month.
2. A count of supplies shows $1,160 of unused supplies on May 31.
3. (a) Annual depreciation is $3,480 on the building. (b) Annual depreciation is $2,880 on equipment.
4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)
5. Unearned rent of $2,580 has been earned.
6. Salaries of $760 are accrued and unpaid at May 31.
Required:
Journalize the adjusting entries on May 31.
Answers
Answer:
General Journals
1.
Insurance Expense $450 (debit)
Prepaid Insurance $450 (credit)
Insurance for May expired
2.
Supplies Expenses $1,140 (debit)
Supplies $1,140 (credit)
Supplies used during May
3a.
Deprecation $290 (debit)
Accumulated Depreciation $290 (credit)
Depreciation for building for May
3b.
Deprecation $240 (debit)
Accumulated Depreciation $240 (credit)
Depreciation for equipment for May
4.
Interest Expense $3,000 (debit)
Mortgage Payable $3,000 (credit)
Interest expense on Mortgage for May
5.
Unearned Rent Revenue $2,580 (debit)
Rent Revenue $2,580 (credit)
Rent Revenue earned
6.
Salaries Expense $760 (debit)
Accounts Payable $760 (credit)
Salaries for May owing
Explanation:
Mortgage Interest = 1/12 × $36,000
= $3,000
See the correction/adjusting entries prepared above.
Your uncle is sole pro-
prietor of a camera shop. You know much more about digital cameras than he does. He is looking for a
partner. What questions would you ask him before you would consider going into business with him?
Answers
Answer:
Does he know managerial and literacy work such as account book keeping, purchase and sale record keeping etc.
Explanation:
Because I will do the sale and purchase of the camera and other technical work myself.
a series of well-defined phases performed in sequence that serves as a framework for developing an information system or project.
Answers
also known as the "waterfall model." It's a series of well-defined phases performed in a sequence that serves as a framework for developing a system or project. They aren't employees but use the system; they include customers, contractors, suppliers, and other business partners.