On november 8, it sold 14 units for $42 each. using the lifo perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 14 units sold?
Answers
The cost of goods sold (COGS) for the 14 units sold on November 8th using the LIFO perpetual inventory method would be $560.
To calculate the amount recorded in the cost of goods sold account (COGS) using the LIFO perpetual inventory method, we need to look at the most recent inventory purchases. Assuming there were 20 units purchased at different costs, we need to first determine which 14 units were sold.
Using LIFO, we assume that the most recent units purchased are sold first. Therefore, the cost of goods sold will be based on the cost of the last 14 units purchased.
Assuming the last 20 units were purchased at different costs, we can use the following chart to determine the cost of goods sold:
Date Units Cost/Unit Total Cost
Oct. 1 5 $35 $175
Oct. 15 6 $38 $228
Oct. 30 9 $40 $360
Nov. 8 -14 $40 -$560
Total $203
As you can see from the chart, the last 14 units purchased at a cost of $40 each were sold on November 8th.
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Related Questions
Taylor organizes and manages the operations department. At the end of the day, he gathers data from his team and generates a daily report for his supervisor. Which option has helped him gather and generate all the reports quickly?
A.
adoption of an information system
B.
adoption of a transaction management system
C.
adoption of a report generation tool
D.
adoption of a data processing tool
Answers
With an adoption of a data processing tool,Taylor gathered and generate all the reports quickly.
Data Processing tool is any software tool that helps to arrange
scattered,raw and unprocessed documents( text file data, excel file
data, images, audio clips, video clips etc) into a structured, readable and
useable data that can be stored and retrieved easily.
Different types of data processing tools for different reports or
management exist and some of them include:
Excel for very small data.Tableau Qlik Sense ThoughtSpotFineReport. MicroStrategy etc
Taylor can therefore gather and generate his reports using a good data processing tool like Excel or Fine report software.
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uppose Warner Music and UMG are in a duopoly and currently limit themselves to 10 new artists per year. One artist sells 2 million songs at $1.25 per song. However, each label is capable of signing 20 artists per year. If one label increases the number of artists to 20 and the other stays the same, the price per song drops to $0.75, and each artist sells 3 million songs. If both labels increase the number of artists to 20, the price per song drops to $0.30. and each artist sells 4 million songs. Fill in the revenue payoffs for each scenario in the table above. If this game is played once, each producer will sign artists, and the price of a song will be $ If this game is played every year, each producer will sign artists, and the price of a song will be $
Answers
It is one of the "big three" recording firms and the third-largest in the world's music market, after Sony Music Entertainment and Universal Music Group (UMG) (SME).
What is Warner Music?
The company's frontline record label family consists of Warner Records (Neil Young, NLE Choppa), Elektra Music Group (Tones & I, Panic! At The Disco), and Atlantic Records (home to Ed Sheeran, Cardi B, Bruno Mars, Twenty One Pilots, and many more).
The music publishing division of Warner Music Group, which is home to artists like Ed Sheeran, Cardi B, and Bruno Mars, announced greater fiscal fourth-quarter revenue and net income on Tuesday.
Elektra Records, Reprise Records, Warner Records, Parlophone Records (previously owned by EMI), and Atlantic Records are just a few of the biggest and most successful labels owned and run by the firm.
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Among those not working, the most recent job-search activity for 2.90 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 10.99 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places.
Answers
Answer:
A. 24.05
B. 4.62
C. 66.99%
D. 19.21%
Explanation:
A). Calculation to determine the Laborland's total labor force
Using this formula
Total Labor Force = Employed + Unemployed
Let plug in the formula
Total Labor Force = (4.9+ 14.53) + (2.9 + 1.72)
Total Labor Force = 19.43 + 4.62
Total Labor Force = 24.05
Therefore the Laborland's total labor force is 24.05
(B). Calculation to determine the Laborland's labor force participation rate
Unemployed = 2.90 + 1.72
Unemployed = 4.62
Therefore the Laborland's labor force participation rate is 4.62
(C). Calculation to determine How many people are unemployed in Laborland
Using this formula
Labor force participation rate = Labor force / Total working age population
Let plug in the formula
Labor force participation rate= $24.05 / 35.9
Labor force participation rate= 66.99%
Therefore How many people are unemployed in Laborland will be 66.99%
(D). Calculation to determine Laborland's unemployment rate
Using this formula
Unemployment Rate = Unemployed / Labor force
Let plug in the formula
Unemployment Rate = 4.62 / 24.05
Unemployment Rate= 0.1921 * 100
Unemployment Rate= 19.21%
Therefore Laborland's unemployment rate is 19.21%
For a single-price monopoly, marginal revenue is ________ when demand is elastic and is ________ 20) when demand is inelastic.
Answers
According to macroeconomic theory, for a single-price monopoly, marginal revenue is positive when demand is elastic and is negative when demand is inelastic.
When the demand is elastic, reducing the price and selling more units results in total revenue increasing.
Therefore, to make this valid, Marginal Revenue must be greater than 0.
On the other hand, when demand is inelastic, reducing the price and selling more units decreases total revenue.
Thereby, to make this valid, Marginal revenue must be less than 0.
Hence, in this case, it is concluded that the correct answer is positive and negative, respectively.
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List 5 Entrepreneural qualities
Answers
Explanation:
resolute motivation and passion, creative thinking, self discipline, risk taking ability, and persistence
what climate and growing conditions do sugar beets and sugar cane require
Answers
step-by-step explanation:
Answer:
it requires a tropical or subtropical climate with a minimum of 600mm of annual
When faced with a difficult situation, kate ensures that she has the final word, even if she forcefully has her way. which kind of conflict resolution approach does kate follow? when faced with a difficult situation, kate follows a approach toward problem resolution.
Answers
The answer is Competing. There are five types of conflict resolution or conflict management; competing, avoiding, accommodating, and compromising.
What is Competing?You compete against the opposing team when you play sports. You compete for promotions at work. When you have siblings, you fight over everything. rivalry; to engage in conflict; to compete. to compete with one or more other people in order to achieve a goal, such as an advantage or victory. Competition is a rivalry in which two or more parties try to outdo one another in order to gain recognition, a prize, supremacy, profit, etc.; participate in a competition; vie: to compete in a race; to compete in business. There can never be a situation in which all competing ideas, demands, or interests are true or satisfied at once. They discussed the conflicting theories regarding the origin of life.To learn more about profit refer to:
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Answer: Competing
Explanation: Hope it helps
What is the purpose of credit legislation and what is its impact on individuals, companies, and financial institutions?
Answers
Answer:
here ;)
Explanation:
Its purpose is to protect consumers obtaining credit to finance their transactions, ensure that adequate credit is provided, and govern the credit industry in general. In 1968, Congress passed the Consumer Credit Protection Act in part to regulate the consumer credit industry.
material f85 is in use in many of the company's products and is routinely replenished. material e71 is no longer used by the company in any of its normal products and existing stocks would not be replenished once they are used up. what would be the relevant cost of the materials, in total, for purposes of determining a minimum acceptable price for the order for product qea?
Answers
To determine the relevant cost of the materials, in total, for purposes of determining a minimum acceptable price for the order for product QEA, we need to calculate the cost of the materials that will be used to produce 3,000 units of component QEA.
Each unit of QEA requires 5 units of material F85, and 5 units of material E71. Since the order is for 3,000 units of QEA, we need:
5 units x 3,000 units = 15,000 units of material F85
5 units x 3,000 units = 15,000 units of material E71
The relevant cost for 1 unit of F85 will be the replacement cost, which will be $ 4.75 per unit.
The relevant cost for 1 unit of E71 will be the disposal value since it does not have alternative use, i e $3.60 per unit.
However, the shortage of 3,000 x 5 - 13,680 = 1,320 units will be based on the replacement cost of $4.70 per unit
3,000 units of QEA will have a relevant cost of 15,000 x 4.75 + 13,680 x 3.60 + 1,320 x 4.7 = $126,702
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COMPLETE QUESTION-
Winder Corporation is a specialty component manufacturer with idle capacity. Management would like to use its extra capacity to generate additional profits. A potential customer has offered to buy 3,000 units of component QEA. Each unit of QEA requires 5 units of material F85 and 5 units of material E71. Data concerning these two materials follow
Material F85 is in use in many of the company's products and is routinely replenished. Material E71 is no longer used by the company in any of its normal products and existing stocks would not be replenished once they are used up.
What would be the relevant cost of the materials, in total, for purposes of determining a minimum acceptable price for the order for product QEA?
$126,702
$141,750
$126,295
$145,965
Construct a break-even graph to represent the current data, identifying the break-evenlevel of production and the safety margin.
Answers
The break-even level production profitability and margin of safety are terms often used in business and finance to analyze the profitability and risks associated with a particular product or service.
The break-even level of production is the point where total revenue equals total cost, where profit or loss is zero. It indicates the minimum production or sales volume necessary to cover all fixed and variable costs. The margin of safety represents the volume of production or sales exceeding the break-even point. It provides a buffer that protects the business from unexpected changes in costs, prices, or fluctuations in demand.
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fiscal policy refers to the idea that aggregate demand is affected by changes in
Answers
Fiscal policy refers to the idea that aggregate demand is affected by changes in Government spending and taxes.
What is fiscal policy?Fiscal Policy refers to government policy of using tax and spending to meet economic goals.
Here, a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.
Hence, Fiscal policy refers to the idea that aggregate demand is affected by changes in Government spending and taxes.
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A C corporation earns $8.30 per share before taxes and the company pays a dividend of $4.00 per share. The corporate tax rate is 39%, the personal tax rate on dividends is 15%, and the personal tax rate on non-dividend income is 36%. What is the after-tax amount an individual would receive from the dividend?
Answers
Answer:
$3.4
Explanation:
The computation of the after-tax amount that received from dividend is shown below:
The Dividend is $4 per share
And, the tax on dividend is 15%
So, after tax amount after receiving the dividend is
= dividend - dividend × tax on dividend
= $4 - $4 × 15%
= $4 - $0.6
= $3.4
It is to be paid by the corporation it is not the liability of an investor
With the help of online research, write a short report on “glocalization.”
Answers
The phenomena of Glocalization, which is best described as Thinking Globally, Acting Locally, is created when the two terms of globalisation and localization are combined.
To put it more properly, we may say that although if a single brand is produced, sold, and distributed globally, it is nevertheless personalised and customised to suit the tastes and preferences of customers in the many global marketplaces.
It is carried out since each region of the world has its own unique culture, linguistic preferences, demands, and desires.
By adjusting their offerings and products to meet the needs of that specific market, businesses may effectively position and place their items, resulting in high revenues and devoted customers.
The following are all global brands, although they cater to the demands of their customers in various parts of the world while selling items.
Chips by Lays (They sell different flavours in different parts of the world, according to the taste preference and eating habits of that country).
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Why do corporate sponsors pay athletes and entertainers to use their products?
Answers
Answer:
It increases brand visibility, recognition, and associates it with someone successful and popular.
Explanation:
If athletes could use performance-enhancing drugs then one athlete could have an unfair advantage over another, making he/she more marketable.
What is the checking ledger used for?
A. To save money.
B. To record deposits to savings.
C. To record checks I write.
Answers
Answer:
B
Explanation:
The answers is B Its used to keep track
Hi, there! I'm Noya! <3
I'm here to help you Comprehend this question better and get the right answer. ^^
Answer:
B. To record deposits to savings.
Explanation:
A Checking ledger is used to help keep track of all transactions in the checking account, plus deposits and withdrawals.
Hope this helps you! Have a great day! :3
Meow~
Celebrities can appeal to ethos when they promote products that
A. are related to their field.
B. people want to buy.
C. might help people.
D. are not well known.
Answers
Answer:
B.people want to buy ..............
A standard inventory form should include:
a) The date of the inventory
b) The list of the items
c) The unit size for each item
d) All of these
Answers
Answer:
B
Explanation:
The list of the items
Hope it helped brainiest plz
-Guesty
The correct option is B. A standard inventory form should include a list of the items. Using an inventory form, you can keep track of all the supplies, goods, and merchandise in your company at any one time.
Why Inventory form is important?Small businesses need inventory management because it helps them manage many locations, avoid stockouts, and maintain correct records. As opposed to attempting to complete them all manually, an inventory system makes these operations simpler.
The form typically serves three functions: requisitioning things from inventory, releasing inventory records in the quantity of the items selected, and billing the targeted task for the cost of the products requisitioned. Any inventory products that are not currently in stock can also be ordered again using the form as a guide.
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Type the correct answer in the box. Spell all words correctly.
Which quality helps a leader cooperate with team members?
_____ is a quality that helps a leader cooperate with the team on important matters to achieve company goals.
Answers
Answer:
agreeableness
Explanation:
I got the right answer on edmentum
On 1/1/2020, Studebaker Corp. had an Accounts Receivable balance of $500,000 and an Allowance for Doubtful Accounts balance of $30,000. During 2020, Studebaker made credit sales of $4,000,000 and cash collections of $4,100,000. Also during 2020, Studebaker wrote off uncollectible accounts receivable totaling $28,000. Based on an aging schedule, uncollectible amounts are estimated to total $35,000 as of 12/31/2020. Studebaker uses the Aging Schedule approach to recording bad debt expense. The adjusting journal entry to record Bad Debt Expense for 2020 includes a debit to Bad Debt Expense of
Answers
Answer:
Bad Debt expense $28,000.
Explanation:
Bad debts are the noncollectable amount of receivables which are not recovered. Companies usually maintain an allowance for uncollected receivables as doubtful debts or bad debts. The expense is recorded when there is no hope left for collection of these debts. Studebaker has estimated its bad debts to be 38,000 but it wrote off $28,000 which is the actual expense.
If a company's scope is too big, what is likely to happen?
A.
The company will face more conflicts of interest.
B.
Employees will participate in a SWOT analysis.
C.
Employees will have better morale.
D.
The company will lose direction and focus.
Answers
Answer:
d is correct
Explanation:
Shadow Corp. estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Shadow computes a total of $26,880 in estimated losses from uncollectible accounts as of December 31, 2021 based on its aging analysis. Its Accounts Receivable account has a balance of $902,400 and its Allowance for Uncollectible Accounts has a credit balance of $3,840 before adjustment at December 31, 2021. How much bad debt expense will Shadow Corp report in 2021
Answers
Answer:
the bad debt expense reported is $23,040
Explanation:
The computation of the bad debt expense reported is shown below:
= Estimated losses arise from uncollectible accounts - credit balance of allowance for uncollectible accounts
= $26,880 - $3,840
= $23,040
Hence, the bad debt expense reported is $23,040
The above formula should be used for calculating the bad debt expense
Mila invested $1,800 in a one-year CD earning 3.1% annual interest. How much interest will Mila earn?
Answers
Answer:
the interest mila earned for one year is $55.80.
I apologize if this is wrong I'm not super good with business
2. The owner of a franchise benefits from brand name recognition, access to professional
and nationwide advertising.
Answers
Answer:
True
Explanation:
It is TRUE that the owner of a franchise benefits from brand name recognition, access to professional and nationwide advertising.
This is because the owner of a franchise has various advantages. The advantages include enhanced reputation which covers all the places there is a franchise.
Then there is an increase in management techniques and work practices, including access to national advertising to cover many places and continuous support.
What is one of the key goals of unions?
A: to encourage more workers to form unions
B: to ensure that employers heed environmental laws
C: to get wage increases for their members
D: to engage in featherbedding
Answers
Answer:
l think to encourage more workers to form unions
Explanation:
please follow me
Answer: C
Explanation:
Hi can you please answer this question for me?
___________________________ is the interest that the bank pays you on the principal plus on the interest that you earned the preceding year
simple intrest
compound interest
complex interest
Answers
Answer:
compound interest
Explanation:
Compounding interest refers to the action of adding the interest earned in a period to the principal amount. This action increases the principal amount invested. In compound interest, both the principal amount and the interest earned increases every financial year.
Compound interest contrasts with simple interest, which is the interest earned on the principal amount only. Whereas compound interest amount increases every year, simple interest remains constant throughout the life of the investment.
Answer:
Compound Interest
Explanation:
1. If you desire to have $38300 for a down payment for a house in 11 years, what amount would you need to deposit today? Assume that your money will earn 4 percent.
2. Pete Morton is planning to go to graduate school in a program of study that will take 3 years. Pete wants to have $18100 available each year for various school and living expenses. If he earns 6 percent on his money, how much must be deposit at the start of his studies to be able to withdraw $18100 a year for 3 years?
Answers
Pete must deposit $140,362 at the start of his studies. To determine the amount to deposit today, use the formula for the present value of a single amount:P = FV / (1 + r)n, where P is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
\(P = 38300 / (1 + 0.04)11 = 38300 / 1.480244 = $25,872.55\) rounded to $25,873. So, you would need to deposit $25,873 today. 2. To calculate how much Pete must deposit at the start of his studies, use the formula for the present value of an annuity:\(P = PMT x [(1 - (1 / (1 + r)n)) / r],\) where P is the present value, PMT is the periodic payment, r is the interest rate, and n is the number of periods.
P =\(18100 x [(1 - (1 / (1 + 0.06)3)) / 0.06] = 18100 x [(1 - (1 / 1.191016)) / 0.06] = 18100 x (0.468623 / 0.06)\)= $140,362.12 rounded to $140,362.So, Pete must deposit $140,362 at the start of his studies.
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In general, learning objectives
a. are made up of tables, charts, and graphs for analyzing.
b. contain quizzes and exercises for students to work through.
c. summarize the most important ideas in the chapter at the end.
d. are the main ideas you can expect to learn from reading the chapter.
Answers
In general, learning objectives at the end of a chapter summarise its key points.
What is the meaning of the learning objective?With the aid of a student learning objective, a teacher is able to measure their effect on students' achievement as it relates to a certain academic or elective criterion.
Effective learning requires the presence of learning objectives, also referred to as learning outcomes. They aid in articulating what the students should be able to perform after the instruction, which helps to create more successful lesson plans, activities, and evaluations.
Learning objectives are declarations that detail important knowledge that students have acquired and may credibly demonstrate at the conclusion of a course or programme. In other words, learning objectives specify what the student will be aware of and capable of performing at the conclusion of a course or programme.
Therefore, the correct answer is option c. summarize the most important ideas in the chapter at the end.
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The cost of doing business and establishing retail pricing are directly related to a business’s bottom line. Therefore, if there is a change in the cost of goods, it will affect the profitability of a business that has set prices for its products.
How might profitability and market share be affected if retail pricing fluctuates depending on the cost of raw materials?
Why do you believe that to be the case?
Why is it important that a company’s pricing objectives fit well with its marketing objectives?
Please number your response for each question (1, 2, and 3).
Answers
(1). As increases in the cost of raw materials are there, because higher the raw material, there will be increasing of production cost at company levels. As it could felt by the consumers.
What is Business?The word business is defined as, Businesses that are for-profit operate to make a profit, whereas those that are noncommercial do so to further a philanthropic cause. The term business refers as They could be industrial.
(3). As each business has their different goals and objective by having the pricing objective, the framework was there which determines. That how you should set your prices.
Therefore, As a result, by changes in the retail pricing of the products, there would be direct effect of business will be there in it.
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Which of the following is a true statement regarding operating costs:
They are fixed expenses.
They are not directly related to production.
They occur once or twice a year.
Only some businesses have them.
Answers
Answer:
They are not directly related to production.
Explanation:
Operating expenses are the costs incurred in running the affairs of a business on a day-to-day basis. They refer to the expenses associated with the maintenance and administration of a business. Operating expenses are also operational costs and include rent, machinery, payroll services, utilities, uniforms, and office supplies. operating cost also covers overhead expenses as well as the cost of goods sold
what subjects in secondary school should i do in order to become a real estate agent?
Subjects ex: Maths, English, science, bio, etc,
Answers
Subjects to be done in secondary school to become a real estate agent include:
Business and economics Math Social studies Technology and computer skillsWhich subjects can help in real estate ?Classes in business and economics can provide a foundation in financial and economic principles, which can be useful for understanding real estate market trends and analyzing property values.
Courses in mathematics, such as algebra and geometry, can be helpful for understanding and analyzing property measurements, statistics and data.
Understanding history, geography, and culture of a location can be helpful in understanding the market and giving clients the best advice and can be learnt from secondary school.
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