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Answer 1

1 - 3) The computation of the cost of goods sold, ending inventory, sales revenue, and gross profits under each inventory costing method for Rosenberg Incorporated is as follows:

                                      FIFO                         LIFO           Weighted Average

Cost of goods sold     $2,111                      $2,004                $2,053

                              ($2,699 - $588)       ($2,699 - $695)   (89 x $23.0684)

Ending inventory         $588                        $695                    $646

                               ($21 x 28)              ($575 + $24 x 5)    (28 x $23.0684)

Sales Revenue        $2,937 ($33 x 89)    $2,937                $2,937

Gross profits             $826                          $933                   $884

4) The determination of the method that results in higher profitability when inventory costs are declining is as follows:

When inventory costs are declining, the LIFO method results in higher profitability with a gross profit of $933, which is higher than the weighted average method's $884 and the FIFO method's $826.

The higher profitability results from the lower cost of goods sold with declining inventory costs used to assign costs to the cost of goods sold.

Data and Calculations:

Date            Transactions         Number of Units    Unit Cost        Total Cost

Jan. 1           Beginning inventory          23                    $25              $575

Mar. 4          Purchase                            28                    $24                672

Jun. 9          Purchase                            33                    $23                759

Nov. 11         Purchase                            33                    $21                 693

Total                                                       117                                     $2,699

Sales                                                     -89

Ending inventory                                  28 (117 - 89)

Average cost per unit = $23.0684 ($2,699/117)

Cost of goods available for sale = $2,699

Cost of goods sold = Cost of goods available for sale - Ending Inventory

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Related Questions

A new accountant mistakenly classified some capital expenditures as revenue expenditures. What is the outcome of this error

Answers

Answer:

the company will understate assets and understate net income

Explanation:

A company has the following liabilities as of December 31:

Accounts payable $150,000
Notes payable (current portion) 217,000
Salaries and wages payable 55,000
Installment notes payable 1,140,000
Interest payable 32,000
Payroll taxes payable 15,500

What is the amount of total current liabilities reported on the balance sheet?

a. $319,500
b. $469,500
c. $1,609,500
d. $437,500

Answers

The amount of total current liabilities reported on the balance sheet will be $469,500

Part of the job for an architectural designer is obtaining which of the following from different contractors for a construction project?

A: A business license
B: A bid
C: Permission

Answers

Answer:

B. A bid

Explanation:

What report compares metrics based on user acquisition date over a series of weeks?.

Answers

Answer:

✒️Answer:

Cohort Analysis report compares metrics based on user acquisition date over a series of weeks.

Explanation:

#CarryOnLearning

[tex]watch.some.anime[/tex]

When an installment note is issued, the journal entry will include a __________ to __________.

a. debit; Notes Payable
b. debit; Cash
c. credit; Cash
d. credit; Notes Receivable

Answers

When an installment notice is issued, the journal entry will include a debit to cash

B. Debit; Cash

Which of the following are considered "free money" when it comes to
financing higher education?
Loans
Work-study programs
Military programs
Scholarships and grants

Answers

The option that can be considered free money when it comes to financing higher education is: Scholarships and grants.

What are grants?

Grant is a monetary fund given by a public entity or a charitable foundation or a specialized grant making institution to an individual for a specific purpose.

Grants and scholarship does not need to be paid back by individuals. Therefore it can be considered free money when it comes to financing higher education.

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Petropoulos Resorts common stock sells for $58.49 per share and pays an annual dividend that increases by 1.3 percent annually. The market rate of return on this stock is 12.6 percent. What is the amount of the last dividend paid

Answers

Assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.

Dividend

Using this formula

PO=D0(1+g)/k-g

Let plug in the formula

$58.49 = D0× (1 + 0.013) ÷ (0.126 - 0.013)

$58.49 × 0.113 = D0 × (1 + 0.013)

6.60937=D0 × (1 + 0.013)

D0=6.60937/1.013

D0=$6.52

Inconclusion assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.

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Devon is accused of robbing a jewelry store and is summarily thrown in jail. Which law or principle of law will help Devon in this situation?

Answers

Answer:

Procedural Due Process

Explanation:

TRUE OR FALSE - ACCOUNTING (100 POINTS)
IF FALSE EXPLAIN WHY

1. The Dividends account is an expense.
2. A credit to the cash account will increase the account.
3. Liabilities are debts owed by the business entity.
4. Revenue is the Income Statement account credited when selling services or products to customers.
5. When an account receivable is collected in cash, the total assets of the business increase.
6. When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
7. The revenue recognition principle states that revenue should be recorded when the cash is received from the customer.
8. An example of deferred revenue is Unearned Car Insurance Premium Revenue on an insurance company’s balance sheet.
9. A company’s accounts receivable represents an amount that the company will collect in the future from customers.
10. An adjusting entry would adjust revenue so it is reported when earned and not when the cash was received.

Answers

1. False - Dividends reduce retained earnings, retained earnings is an equity account
2. False - Cash is an asset and the normal sign is a debit
3. True
4. True
5. False - Cash increases, receivable decreases, total assets stays the same
6. False - GAAP requires the company be on “accrual basis” and the “matching principle” requires the expense to be recognized
7. False - Revenue recognized when earned
8. True
9. True
10. True

Answer:

1. False

2. False

3. True

4. True

5. False

6. False

7. False

8. True

9. True

10. True

Explanation:

A physical count of merchandise inventory on November 30 reveals that there are 82 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 7 units from the November 1 inventory, cost of goods sold is

Answers

After computing the cost of inventory that was sold, The Cost of Goods sold is given as $1,334.30.

The calculations related to the exercise are as follows:

From the information provided (see full question attached),

Inventory at hand as at November 1:

there are 29 Units of Inventory at the cost of $5.90 dollars each.

Purchases:

118 units are purchased at $6.30 dollars each;59 units are purchased at $6.15 dollars each; and88 units are bought at $6.50 dollars each.

If at the end of the period there are 25 units each form the purchases above and 7 from the existing inventory as at Nov. 1st, then the cost of goods sold is:


((29-7) X 5.9) +((118-25) x 6.3) + ((59-25) x 6.15) + ((88-25) x 6.5))

= $1,334.30

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Which of the maturity lengths between the bonds, bills, and notes would be most advantageous during a bear market?

Answers

Answer:

perhaps bonds, but I'm not 100%sure

What are the ethical considerations in this case

Answers

Ethical considerations in research are a set of principles that guide your research designs and practices. These principles include voluntary participation, informed consent, anonymity, confidentiality, potential for harm, and results communication.

BUS208 Case Studies in Business Administration
Case #2

1. Select ONE of the following (a through g).

a. A professional sports team
b. A gaming system company
c. An airline company
d. A consumer retail store
e. An automobile company
f. A computer company

2. Select a specific example of that category. For example, if you chose “a professional sports team,” you could select one of the following: Giants, Jets, Mets, Nets, Yankees, etc. Indicate the specific example you selected:

American AirLines

3. Analyze the external organizational environment for your choice. Identify at least TWO and preferably THREE aspects of EACH of the following that your choice must consider:

a. General environment

i. International dimension

1.American Airlines is the largest airline in 2020.
2. American Airlines traveled 240 destinations in the U.S, Canada,
The Caribbean and Mexico.
3.American airlines headquarters is in dallas fort worth.

ii. Technological dimension

1.Electronic wallet
2. Mobile ID
3.Virtual Assistant

iii. Sociocultural dimension

1.Ethics and human rights(provide the director with a report for unethic)
2.Sustainability and climate change
3.Give customer a great experience

(continued)


iv. Economic dimension

1.Boarding with 1 carry on & one personal item.
2.AAdvantage credit card member.


v. Legal-political dimension





b. Task environment

i. Customers





ii. Competitors





iii. Suppliers





iv. Labor market





(continued)


4. Conduct a situation analysis using a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that assesses the environment for your selected organization.

A SWOT analysis is categorizing the information that you gathered in the environmental analysis that you performed in the first half of this case. Some of the information you listed may not qualify as a strength, weakness, opportunity, or threat, however – it may be neutral. You should have at least TWO items EACH for strengths, weaknesses, opportunities, and threats and preferably THREE aspects for at least two of these.

Positive Negative
Internal Strengths:











Weaknesses:
External Opportunities:













Threats:

Answers

Answer:

I did not know some things

An investment firm provides its customers mobile applications that significantly simplify traditional investing activities. For example, a customer can purchase a stock by utilizing their phone or tablet. This unique service demonstrates the firm’s desire to practice which of Porter’s strategies?

Answers

The Differentiation strategy is used by the investment firm in standing out in the industry.

What is Michael Porter strategy?

A strategy is defined by Porter as a competitive position that is deliberately chosen as a different set of activities to deliver a unique mix of value.

The Generic Strategies model of Michael Porter includes:

Cost LeadershipDifferentiationFocus.

These strategy are important because they provide an options for organizations to gain competitive advantage.

In conclusion, the Differentiation strategy is used by the investment firm in standing out in the industry.

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Agricultural managers need, at the bare minimum, what kind of degree in order to obtain their first job in that role?

A: Associates degree
B: Bachelors degree
C: Doctorate degree
D: Masters degree

Answers

B:Bachelors degree E corect

Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money

Answers

Answer:

Raise taxes

Explanation:

This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation

please help me, I'll give brainliest ​

Answers

Answer:

600

Explanation:

Discuss the external factors that may affect law

Answers

Answer:

political - For example, new legislation.

economic - For example, inflation and unemployment.

social - Changes in taste and fashion or the increase in spending power of one group, for example, older people.

technological - For example, being able to sell goods online or using automation in factories.

Explanation:

Which of the following does NOT influence the effectiveness of a chemical sanitizer solution?

Concentration
Temperature
Cost
Contact time

Answers

The cost of a solution does not influence the effectiveness of a chemical sanitizer solution.

What is the chemical sanitizer solution?

The effectiveness of the sanitizer means the ability of the solution to clean the surface applied to effectively.

Some factors that influence the effectiveness of a chemical sanitizer solution includes:

concentrationtemperaturecontact timewater hardnesspH etc.

Therefore, the Option C is correct.

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what is a informal business structure

Answers

your business doesn't operate under the guidelines of a written document that spells out the rules, regulations and chain-of-command. Under this structure, your business operates by a system developed by your employees who have proven effective.

In an informal organizational structure, your business doesn't operate under the guidelines of a written document that spells out the rules, regulations and chain-of-command. Under this structure, your business operates by a system developed by your employees who have proven effective.

how goal succession take place? explain the condition responsible for goal succession​

Answers

the new or modified goals are incorporated or substituted for the existing one in such a manner that they do not change the spirit of the existing goals

The new goals are such that individuals or the organisation are willing to state publicly.

Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-end:

1. Prepare the adjusting journal entry required for the year. Assume Chipman uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year and no Bad Debt Expense has been recorded yet.

2. Prepare the adjusting journal entry required for the year. Assume instead that Chipman uses the aging of accounts receivable method and estimates that $82 of its Accounts Receivable will be uncollectible.

3. Assume instead that Chipman uses the aging of accounts receivable method and estimates that $82 of its Accounts Receivable will be uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense. Assume Chipman's year-end unadjusted balance in Allowance for Doubtful Accounts was a debit balance of $22.

4. If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be used to write off its $20 balance?

Answers

Answer:

What is allowance for doubtful debt?

This represents management's estimate of the amount of accounts receivable that will not be paid by customers. They are amount owed by debtors, whose likelihood of collection is not certain.

1 Bad debts expense Dr   ($18,000 × 0.25%)  $45  

              To Allowance for Doubtful Accounts $45

(Being the bad debt expense is recorded)

2.  Bad debts expense $45        

          ($72 - $27)

              To Allowance for Doubtful Accounts   $45

(Being the bad debt expense is recorded)

3 Bad debts expense    $105      

           ($72 + $33)

           To Allowance for Doubtful Accounts $105

(Being the bad debt expense is recorded)

4 Allowance for Doubtful Accounts $15  

           To Accounts Receivable  $15

(Being the allowance for doubtful accounts is recorded)

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Explanation:

Part 1: Effective Communication
Write a 150- to 200-word response to the following scenario and questions:
Your class requires you to use a program you must download on your computer. You have waited until day 5 of the week to download the program, and you need it for an assignment that is due in 2 days. Now you are having issues with the program.
• How do you approach solving this problem?
• Whom would you contact first, and why?
• What are the resources available to support you when obstacles arise?
• Why is effective communication important in linking you to these resources?


Part 2: College Writing Process
Write a 150- to 200-word response to the following questions:
• When you have an essay due in an upcoming course, how will you manage your time to ensure you are able to complete all 5 steps of the writing process (prewriting, organization, drafting, revising, and editing)?
• How can you apply what you have learned about the college writing process to enhance the effectiveness of your written communication in the workplace?



Part 3: Academic Integrity
Access the Center for Writing Excellence.
Review the following resources under the Academic Integrity heading:
• Plagiarism Tutorial
• Student Code of Academic Integrity
• APA Style: Plagiarism Guide

Write a 150- to 200-word response to the following questions:
• What are 2 examples of violations of the Student Code of Academic Integrity?
• What resources on plagiarism available to you as a student would be most useful in preventing each of these 2 examples of violations?
• Why is integrity important in your professional life?
• How do you put integrity into practice in your professional life?

Answers

When you have a prompt asking you to write about "How" you are being asked to write an Explanatory Essay.

What are the Steps to Writing an Explanatory Essay?

To write an effective explanatory essay, you must ensure that you first research the topic you have been given from credible sources. Remember that your objective is to educate the reader. The key idea here is to demonstrate effective communication.

A. Part 1 is a 150 to 200-word response. Because you are to write about your experience, there is no use going into theories.

All your essays must contain an introduction, body, and conclusion. Use one paragraph for the introduction, one or two more for the body, and the last for the conclusion.

Your introduction is crucial. It should be very interesting that the reader would like to read to the end.

B. In the body of your essay (which should follow after your introduction) you must demonstrate adequate provision of related and relevant evidence to buttress your points.

3. Ensure that your thoughts are organized, that is following one another logically. Do check to ensure that you have no grammatical errors.

Finally, always recap your main points and summarize your findings in the conclusion.

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Answer: This is not the answer! Not helpful at all!!!!

Explanation:

Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a​ large, multinational corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make​ $8,000 in gross monthly income and pay​ 40% in taxes and withholdings every month. Between them they have monthly payment of​ $400 in student loans and​ $700 in car​ loans, and their credit cards payments average​ $450 per month. They currently lease a luxury condo for​ $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of​ hours, they eat out at restaurants for most meals. They currently have nothing in savings but​ Hector's grandparents have said they will give them a​ 20% down payment for the new home. Assuming a PITI of approximately​ $1,300 for the​ townhouse, will they be approved for a​ mortgage?

Answers

Assuming a PITI of approximately​ $1,300 for the​ townhouse, and given Hector and Maria's PITI of $4,300, the couple will not be approved for a mortgage.

What is PITI?

The PITI means principal, interest, taxes, and insurance.  Traditionally, the PITI should not exceed 28% of the gross income of Hector and Maria.

Since they both earn a gross monthly income of $8,000, they are likely to get approved for the mortgage but for the townhouse's limit of $1,300.

Data and Calculations:

Gross monthly income = $8,000

PITI maximum = 28% or $2,240 ($8,000 x 28%)

Taxes and withholdings per month = 40% or $3,200 ($8,000 x 40%)

Student loans payments = $400

Car loans payments = $700

Approximate PITI per month = $4,300

Excluded in PITI calculations:

Credit cards payments per month = $450

Lease for luxury condo per month = $1,400

Thus, given the townhouse's PITI of $1,300, Hector and Maria will not be approved for a mortgage.

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Why is it necessary to clean vent hood filters on a regular basis?
A.It makes the air cooler
B.It prevents the buildup of grease that could drip into food
C.It prevents a pest infestation
D.It helps the food cook more evenly

Answers

Answer:

i think the answer is  D

Explanation:

to me it makes the most sense

Cleaning the vent hood filters prevents the grease buildup that could drip into the food.

What is the significance of cleaning filters?

The cleaning of filters not only maintains long life of the filters, but also prevents the drawbacks it may bring if not cleaned. The vapor forms grease into the filters over a period.

It is important to clean these filters of the vent hood, so that the filters work effectively without grease buildup that may result in getting dripped into the food while in preparation.

Hence, option B holds true regarding cleaning the filters.

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how can both stocks and bonds generate a positive return for investors
A. paying dividends
B. Paying Interest
C. Tax Deduction
D. Price Appreciation

Answers

A stock and bond can generate a positive return for investors by tax deduction.

What is a stock and a bond?

A bond is a debt instrument used by businesses to raise capital needed for business operations. Bondholders earn interest on the amount invested and at the maturity of the bond, they are paid back the amount invested.

A stock gives the holders ownership right in the company. Shareholders are paid dividends and when the value of the company appreciates, the wealth of shareholders increases.

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The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigation of all variances begins with the preparation of performance reports is used to assign blame for poor performance

Answers

The variance analysis cycle C. begins with the preparation of performance reports.

What is a performance report?

A performance report is at the heart of the variance analysis cycle.

The performance report details the following:

Calculates the difference between actual and budgeted expenditure and revenue.Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.Investigates the reasons for the differences.Puts the information together and reports to management.

Thus, the variance analysis cycle C. begins with the preparation of performance reports.

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During May, 2021, Breakfront Corporation announced a 2-for-1 stock split. This brought the number of shares outstanding from 25,000,000 shares to _____ shares, and its $2.00 par value to _____ per share.

Answers

Answer:

50,000,000 shares. $1.00 per share.

Explanation:

A 2:1 split doubles the shares and halves the value.

       Shares are fractional ownership interests in a corporation. For some businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual profits in the form of dividends.

Answer : 50,000,000 shares. $1.00 per share.

A 2:1 split doubles the shares and halves the value.

How do you determine the price per share?

         Take a company's net income and deduct preferred dividends to get earnings per share. Subtract that sum from the typical number of outstanding ordinary shares.

         For instance, if you decide to set the par value of your company's shares at $1, all stock buyers are required to pay a minimum of this sum for each share they buy. If you buy 10,000 shares, you must invest at least $10,000 to do so.

      Gains Margins : Day traders experience a wide range of outcomes, which are mostly influenced by the amount of capital they are willing to risk and their money management prowess.  A successful day could result in a gain of 5%, or $500, on a $10,000 trading account.

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HELP PLEASEEE 15 POINTS FOR THISSS

1. A career ______ lets you present documents that highlight your skills, interests and
abilities.

A. journal

B. examples

C. portfolio


2. Awards and certificates, report cards and transcripts and samples of work are all ___________ in a portfolio

A.fossils

B.artifacts

C.workbooks

3. An actual folder that holds printed documents is known as a hard copy portfolio

A. yes

B. no

4. An e-portfolio is something where you can store digital files

A. no

B. yes

5. There are ______ main types of portfolios

A. 4

B. 2

C. 3

Answers

Answer:

1. C

2. C

3. B

4. B

5. B

Explanation:

1. Portfolio relates to a career while "examples" and journal do not.

2. Workbooks because fossils and artifacts relate to something that is not a part of a portfolio.

3.There is no such thing as a hard copy portfolio.

4. An electronic portfolio, or an e-portfolio, stores online digital files.

5. There are only 2 main types of portfolios.

Showcase

Development

Question 5 of 20
If you invest your money today, your future purchasing power will most likely
A. go up and down
B. stay the same
C. increase
O D. decrease
SUBMIT

Answers

When you invest your money, it is likely that in future your purchasing power will A. go up and down.

What will happen to your purchasing power?

If you invest your money today, there is a chance that you will get back more money than you deposited, or less than you deposited.

This means that you will either have more money or less money to purchase goods and services. In other words, your purchasing power will go up and down.

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The presence of calcium in the sarcoplasm is directly responsible for __________. Multiple choice 1 decreasing the length of the myosin myofilament energizing the myosin heads degrading the actin binding sites on the myosin the movement of actin towards the M line exposing the binding sites on actin 2. Rigor mortis occurs after death because __________. Multiple choice 2 actin binding sites become permanently blocked so that crossbridge formation cannot occur no calcium is present to bind to the regulatory protein tropomyosin detachment of crossbridges does not occur due to the lack of ATP the power stroke becomes stronger after death the muscle fibers release sodium into the extracellular fluid Which type of rights ensure equal treatment under the law?O substantive rightsO procedural rightsO unenumerated rightsO civil rights please slove 10^310^4/10^5 A rectangle has a length of (x + 4) feet and a width of (x + 7) feet. The expression2(x+)+2(x + 7) represents the perimeter of the rectangle.Which expression also represents the perimeter of the rectangle, in feet?A (x + 4) + (x + 4) + (x + 7) + (x + 7) WB (x + 4)(x + 4)(x + 7)(x + 7)C 4x + 11D 22x What is the problem in this article? What solution does the article propose?(Site 1) A jar contains 416 coins.1/4 of the coins are 1 coins.280 of the coins are 20p coins.The rest of the coins are 10p coins.Work out the total value of the 416 coins. Drag each tile to the correct box.Match the treaty to its description. Which continent was controlled most heavily by the roman empire? solve for X 3.5x/9= 4.2/5 Please help me Help mee plsssssssss In todays world , public speaking is important to all of the following people except A. Educators B. Chefs C. Religious leadersD. Marathon runners ( when the runner is actually running a race ) E. Real estate agents In an area of East Texas, the most intense competition would most likely occur between white-tailed deer andA. brown bearsB. squirrelsC. other white-tailed deerD. coyotes What did humankind gain from the industrial revolution?. Brainliest availableSimplify Franco has $1.95 in his pocket. His mom has three times as much in her pocket. How much money do Franco and his mom have in total? $1.95 $5.85 $6.80 $7.80 Carbohydrates are less-efficient fuel sources than fats because the carbon in carbohydrates is more: AIDS is an acquired disorder. The disease that causes people to get AIDS is abbreviated as HIV. What does HIV stand for? can you please help me? Create 4 sentences using what each sentence needs in the image below.Use one of these animals jaguar, manatee, and monarch butterfly. explain the scope of population education and environent education.