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Vika [28.1K]
2 years ago
9

Keck Co. had 150 units of product A on hand at January 1, 2014, costing $21 each. Purchases of product A during January were as

follows:Date Units Unit CostJan. 10 200 $2218 250 2328 100 24A physical count on January 31, 2014 shows 200 units of product A on hand. The cost of the inventory at January 31, 2014 under the LIFO method is:a. $4,700.b. $4,450.c. $4,250.d. $4,100.
Business
1 answer:
Finger [1]2 years ago
5 0

Answer:

The correct answer is C: $4,250

Explanation:

Giving the following information:

Product A:

January 1: 150 units costing $21 each.

Purchases:

200 units at $22.18

250 units  $23.28

100 units $24

January 31, 2014: 200 units of product A on hand.

Inventory method: LIFO (last-in, first-out):

Inventory cost= 150*21 + 50*22.18= $4,259

Rounding to 4250

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On January 1, 20X1, Picture Company acquired 70 percent ownership of Seven Corporation at underlying book value. The fair value
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Answer:

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Explanation:

The computation of the amount of sales is shown below:

= Value of the entire inventory sold - purchased inventory + sale inventory

= $58,000 - $45,000 + $45,000

= $58,000

The purchased inventory + sale inventory would reflect the intra sales of the company which told that the sales are made within the company.

7 0
2 years ago
When sam goes to a restaurant, he always tips the server $2 plus 10% of the cost of the meal. if sam’s distribution of meal cost
o-na [289]
Given that S<span>am's distribution of meal costs has a mean of $9 and a standard deviation of $3, this means that the range of Sam's meal cost that are within one standard deviation is given by ($9 - 3, $9 + 3) = ($6, $12).

Given that Sam </span><span>always tips the server $2 plus 10% of the cost of the meal, this means that when the cost of the meal is $9, Sam tips $2 + (0.1 x 9) = $2 + $0.9 = $2.90

Therefore, the mean of the distribution of Sam's tips is $2.90

Similarly, the </span><span>range of Sam's tips that are within one standard deviation is given by ($2 + 0.1(6), $2 + 0.1(12)) = ($2 + 0.6, $2 + 1.2) = ($2.6, 3.2) = ($2.9 - $0.3, $2.9 + $0.3)

Therefore, </span><span>the standard deviation of the distribution of Sam's tips is $0.3</span>
5 0
2 years ago
The sales for​ January, February, and March are​ $150,000, $180,000 and​ $220,000, respectively. For any particular month of​ sa
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Answer:

Total cash= $193,000

Explanation:

Giving the following information:

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January= $150,000

February= $180,000

March= $220,000

40% in cash from that same month of​ sales

50% in cash from the previous​ month's sales

10% in cash from the sales from two months ago

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From March= 220,000*0.4= 88,000

From February= 180,000*0.5= 90,000

From January= 150,000*0.1= 15,000

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When the employees are inefficient the manager should take proper steps to improve the performance.

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When Mohamed is seeing that his employees are not working properly ,he should take proper steps to uplift the performance that is, the manager should pay attention on the employee when they are facing problems,the managers should give clear feedback, the manager should understand the needs of the employees, the manager should provide proper technology as well as awards should be granted for better performance.

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