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TEA [102]
2 years ago
9

On January 1, 2007, Nichols Company’s inventory of Item X consisted of 2,000 units that cost $8 each. During 2007 the company pu

rchased 5,000 units of Item X at $10, each, and it sold 4,500 units. Periodic inventory procedure is used. Cost of goods sold using LIFO is:
Business
1 answer:
timama [110]2 years ago
4 0

Answer: $45,000

Explanation:

Last In First Out (LIFO) is an inventory valuation and management method that works by selling the most recent inventory to come into the business as opposed to the earlier ones.

In the above, the most recent Inventory to come in is the 5,000 units bought at $10 each.

The 4,500 units sold will therefore come from there.

Cost of Goods Sold = Units Sold * Purchase Price

= 4,500 * $10

= $45,000

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It is increasingly difficult for a firm to develop and sustain a competitive advantage because of the effects of globalization a
Alexus [3.1K]

Answer:

a. the rapid development of the Internet's capabilities.

Explanation:

It is increasingly difficult for a firm to develop and sustain a competitive advantage because of the effects of globalization and the rapid development of the Internet's capabilities.

Globalization can be defined as the process of developing technology, people, investments, informations, products in order to create international influences across cultures and national markets or borders. This makes it possible for various multinational enterprise or companies to break into different markets across world and compete effectively with other companies.

Also, the rapid development of the Internet's capabilities gives various companies the ability and privilege to technology and software applications to seamlessly meet the needs of customers over the web such as cloud computing services, Internet of things (IoT) etc.

7 0
2 years ago
On March 28, 2020, a U.S. company issues a purchase order to buy merchandise for NZ$100,000. The company will pay the supplier o
Brut [27]

Answer:

A. $73,000

Explanation:

When a company is protected by a hedge it pays the forward exchange rate of the day it entered into the forward contract when payment date has come.

The Question is incomplete. Below are the missing parts and attached picture with spot rate and forward exchange rate.

Select one:

A. $73,000

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8 0
2 years ago
Rachelle is the owner of a full-service car wash. For the month of December she paid $2,000 in rent, $700 in utilities, $2,950 i
Ilya [14]

Answer:

Total Fixed costs:      $

 Rent                       2,000

Utilities                    700

Salaries                   2,950

Advertising             50

Total fixed cost       5,700

Contribution per car = Selling price - Unit variable cost

                                    = $10.50 - $2.50

                                    = $8.00 per car      

Break-even point in full-service car

= <u>Total fixed cost</u>

  Contribution per car

=  <u>$5,700</u>  

     $8.00    

=   712.5 = 713 cars                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

Explanation:

Break-even point in full-service car equals total fixed cost divided by contribution per car. Contribution per car is selling price minus variable cost per car.

4 0
2 years ago
The hawthorne studies revealed that employees who are happy and satisfied with their work will perform better. out of this study
QveST [7]
The answer that best fits the blank above is HUMAN RELATIONS. The Hawthorne studies, as referred above, were done by Elton Mayo and Fritz Roethlisberger and the studies aim in <span>socio-psychological aspects of human behavior in the workplace or at any organization. As suggested above, human relations is created due to these studies.</span>
6 0
2 years ago
The Bata Aerobics Company manufactures two models of steppers used for aerobics exercises. To manufacture each luxury model requ
Angelina_Jolie [31]

Answer:

to maximize profit it will produce:

400 units of luxury

none of standard.

Explanation:

luxury:

20 lb of pastic and 9 min of labor and 40 dollars profit

standard:

30lb plastic 6 of labor and $15

We calculate the contribution per constrain resourse:

<u>labor hours</u>

40 / 9 = 4.44

15 / 6 =  2.5

<u>materials</u>

40/20 = 2

15 / 30 = 0.5

As luxury provides better contribution in both categories we will maximize his production.

60 hours x 60 min per hours = 3,600 min

3,600 / 9 min = 400 units of luxury steppers

12,600/20 = 630 units of luxury

Once we use the labor hours we cannot keep producing, so we maximize the profit at 400 units of luxury at the given scenario.

As there is no amounft left for standard we don't produce any

5 0
2 years ago
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