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2 years ago

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

Business

1 answer:

gayaneshka [121]2 years ago

3 0

Answer:

(a) FIFO cost $ 17,510.00 includes 20 units @ $63.00 per unit and 250 units @ $ 65.00 per unit.

(b) LIFO cost $ 15,900.00 includes 115 units @ $53.00 per unit, 135 units @ $63.00 per unit and 20 units @ $65.00 per unit.

(d) Specific identification cost $ 16,240.00 includes 85 units @ 53.00 per unit, 30 units @ 58.00 per unit, 40 units @ 63.00 per unit and 115 units @65.00 per unit.

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Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can

bixtya [17]

Answer:

Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.

Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.

Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.

In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.

3 0

2 years ago

The QuickBooks Online ecosystem gives you and your clients access to a wide range of 1.__________ to help 2.___________ their bu

kupik [55]

The Quick Book Online ecosystem gives you and your client access to a wide range of apps to help increase productivity in a business.

Explanation:

The Quick Book Ecosystem helps small firms in their growth and productivity. It keeps all the accounts properly,does all the legal work. It is an easy going app and is very useful for the businessman.
There is no need to keep any backup still the important data are kept secured. Online chats can also be easily performed.
There is not requirement of software to manage it as well as this app don't require any upgrades. Hence we can say that this app is very useful because through this app we can avail other apps too.

6 0

2 years ago

Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be e

iren [92.7K]

Answer:

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

Explanation:

Indication for the revenue account title and amount for each transaction

a. Since we were told that Subscription will begins in next fiscal this means that Revenue amount will be earned when subscription begins in the next fiscal year.

b. Annual interest = $1,500

Interest revenue earned in September = 1,500 / 12

Interest revenue earned in September = $125

c. Based on the information given the amount of Revenue to be recognized for cash equivalent sales value will be $32,000

d. Since we were told that PVH has just received the order in the month of September this means that no revenue can be recognized.

e. Revenue to be recognized = 1,000 * $16

Revenue to be recognized = $16,000

f. Bssed on the information given the revenue amount has already been recognized when the order made is satisfied.

g. Based on the information given the payment that was made is for travel in January which means that revenue is to be recognized only when travel takes place. Hence, No revenue will be recognized in September.

h. Based on the information given the Issue of common stock will not be a sales transaction.

i. Based on the information given the amount of Cash received in the month of September is Únearned revenue reason been that revenue will be recognized l when football game is been played.

j. Based on the information given out of 7 games, first game is played, which means that the Revenue amount to be recognized will be :

Revenue= 70,000,000/ 7

Revenue = $10,000,000

k. Based on the information advance amount for future construction was received which is 'Unearned Revenue' therefore No revenue is earned yet.

l. Since It is sales on account the evenue to be recognized will be the amount of $96,000

m. Revenue to be recognized will be the amount of $300 because payment was made through credit card

Therefore the summary of Revenue account affected and Amount of Revenue earned in September is :

Revenue account affected; Amount of Revenue earned in September

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

6 0

2 years ago

When jorge became one of three final candidates for a managerial position with a large pharmaceutical company, the hiring manage

kodGreya [7K]

B we did this at school it’s not hard nor easy

6 0

2 years ago

Katie is looking over some of the product histories for the company. She has noticed that many more products have been rendered

valkas [14]

Answer:C. It makes it more difficult for the company to define an appropriate time period.

Explanation: Obsolete Items or products are products are no longer useful or relevant,it can be used to describe a product whose Quality has adversely depleted making it not useful.

With the information,since the products are fast becoming Obsolete than when compared to 10years ago,it makes it more difficult to determine or arrive at the appropriate time period for the company to keep the product before it becomes obsolete.

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2 years ago