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Law Incorporation [45]

2 years ago

14

Ayayai Corp. just began business and made the following four inventory purchases in June: June 1 195 units $1170 June 10 260 uni

ts 1820 June 15 260 units 2080 June 28 195 units 1755 $6825 A physical count of merchandise inventory on June 30 reveals that there are 260 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is $2275. $1561. $1625. $2340.

1 answer:

natulia [17]2 years ago

7 0

Answer:

$2275

Explanation:

Given: Detail of inventory purchase-

June 1 195 units at $1170

June 10 260 units at $1820

June 15 260 units at $2080

June 28 195 units at $1755

Total purchase= $6825.

Ending Inventory on June 30 are 260 units

Now, computing amount allocated to ending inventory for June by using FIFO inventory method.

First allocating inventory June 28 purchase as it is a latest entry in the books and we are using FIFO method.

∴ Inventory allocated on June 28= 195 units at the total cost of $\$1755$

Next, allocating remaining inventory from June 15 purchase.

⇒ Remaining units= $260-195= 65\ units$

∴ Remaining units to be allocated is 65 units

Cost of each unit from the purchase of June 15.

Cost of each unit= $\frac{2080}{260}$

∴ Cost of each unit for allocating remaining units= $\$ 8$

Hence, Cost of allocating remianing 65 units= $65\times \$8 = \$520$

Total amount allocated to ending inventory= $\$ 1755+\$ 520$

∴ Total amount allocated to ending inventory= $2275

Hence, the amount allocated to ending inventory for June is $2275.

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Answer: McGregor's Theory Y

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In the given case, Bill is seen as a smart and innovative employee and is heavily praised by his manager.

Hence from the above we can conclude that the managerial perspective in the given case depicts theory Y style.

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Leslie works as customer service representative for Lighthouse Point Lanterns. Her job is to fulfill customer orders and answer

GenaCL600 [577]

Answer:

a performance reward.

Explanation:

A performance reward is a type of employee reward system. Companies generally reward employees in an attempt to motivate them to work more, harder or more efficiently. E.g. a company may reward salespeople that close 100 sales per week, regardless of the type of sales made. This type of reward is based on the gross amount of work carried out by the employee.

In Leslie's case, she is being rewarded for being an efficient employee. The parameter for measuring her efficiency is that 80% of the test calls that she makes are handed properly. She is not rewarded on the number of test calls, but instead on how she handled them.

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2 years ago

The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $1,100 and $475, respect

Hitman42 [59]

Answer:

$575

Explanation:

Given that,

Opening office supplies = $1,100

Closing office supplies = $475

Office supplies expense for the month = $1,200

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$1,100 + Purchases - $475 = $1,200

$625 + Purchases = $1,200

Purchases = $1,200 - $625

= $575

Therefore, the amount of office supplies was purchased during February is $575.

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2 years ago

Jack, an employee of Desert Sky, Inc., has gross salary for May of . The entire amount is under the OASDI limit of $118,500 a

Zanzabum

Answer:

Credit to Cash for $4,995 is correct

Explanation:

here is a complete question

has a gross salary for May of $7,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 21%. Which of the following is a part of the journal entry to record the disbursement of his net pay? (Assume a FICA-OASDI Tax of 6.2 % and FICA-Medicare Tax of 1.45%. Round the final answer to the nearest dollar.) A. debit to Cash for $4,995 B. debit to FICA Tax Payable of $4,995 O C. debit to Employee Income Tax Payable of $4,995 D. credit to Cash for $4,995

The computation of the amount that becomes the part for accrual the employer payroll taxes is shown below:

Gross Pay $7,000

Less: Deductions

Federal Income tax $1,470 ($7000 × 21%)

FICA-OASDI tax $434 ($7000 × 6.2%)

FICA-Medicare tax $102 ($7,000 × 1.45%)

Total Deductions 2006

Net pay $4,995

4 0

2 years ago

Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization

Tom [10]

Answer:

The appropriate solution is "$2.91". A further explanation is given below.

Explanation:

Seems that the given question is incomplete. Below is the attachment of the full problem.

According to the question,

Common dividend,

= 509.83

Shares outstanding,

= 175

Now,

The dividend per share will be:

= $\frac{Common \ dividend}{Shares \ outstanding}$

On substituting the values, we get

= $\frac{509.83}{175}$

= $2.9133$

or,

= $2.91$

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1 year ago