Fallgater, Inc. expects to sell 15,000 units. Each unit requires 3 pound of direct material at $12 per pound and direct labor hours at $10 per direct labor hour. The manufacturing overhead rate is $8 per direct labor hour. The beginning inventories are as follows: direct material, 2,000 pound; finish goods 2,500 units. The planned ending unventories are as follows: direct materials, 5,000 pounds finished goods,3000 units. given a planned production of 10,000 units what are the planned direct materials purchases? A. $324,000 B.$288,000 C.$360,000, D $396,000

Answers

Answer 1

Answer:

Purchase cost= $396,000

Explanation:

Giving the following information:

Each unit requires 3 pounds of direct material at $12 per pound

Beginning inventory= 2,000 pounds

Desired ending invnetory= 5,000 pounds

Production= 10,000 units

To calculate the direct material purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 10,000*3 + 5,000 - 2,000

Purchases= 33,000 pounds

Purchase cost= 33,000*12= $396,000


Related Questions

A major disadvantage of the payback period method is that it:_____.
a. Is useless as a risk indicator.
b. Ignores cash flows beyond the payback period.
c. Does not directly account for the time value of money.
d. All of the answers above are correct.
e. Only answers b and c are correct.

Answers

Answer:

C.

Explanation:

Does not directly account for the time value of money.

Fraud alerts are generally only allowed for individuals who have had their personal information stolen.
a)true
b)false

Answers

Answer:

B)False

Explanation:

Because it's false.

False that fraud alerts exist generally only permitted for people who have had their private information stolen.

What is a fraud alert?A fraud alert exists a free notification you can count on your credit report, requiring anyone receiving a credit application in your name to confirm your identity before processing the application.The purpose of a fraud alert exists to add a layer of protection to the loan application procedure, to prevent criminals from spreading bogus credit accounts or accepting out loans in your name. A fraud alert encourages lenders and creditors to bring extra steps to ascertain your individuality before issuing credit.

Hence, the provided statement is false.

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Pharsalus Inc. just paid a dividend (i.e., D0) of $ 3.32 per share. This dividend is expected to grow at a rate of 8.0 percent per year forever. The appropriate discount rate for Pharsalus's stock is 9.6 percent. What is the price of the stock

Answers

Answer:

$224.10

Explanation:

according to the constant dividend growth model

price = d1 / (r - g)

d1 = next dividend to be paid

r = cost of equity

g = growth rate

(3.32 x 1.08) / (0.096 - 0.08) = 224.10

Suppose a company is considering the following 5 independent projects:

Project

A

B

C

D

E

initial Investment

$100

$300

$400

$500

-$200

NPV

$20

$30

$40

$45

$15

What projects, if any, should be selected if the capital budget is $500?​

Answers

Answer:

A & C

Explanation:

NPV, The Net Present Value of an investment is used in finance to calculate the profitability of a projected investment.

Since the capital budgeted for any investment is $500 ; hence the total initial investment the company can make should not exceed $500 ;

The company will be looking indulge in the most profitable investment, this we can judge Yung the NPV of each investment :

Therefore, the total NPV on investment A and Investment C is the highest while maintaining the $500 capital budget value.

Investment : ___ NPV

$100 - - - - - - - - > $20

$400 - - - - - - - - > 40

$500 - - - - - - - - > $60

Siam Traders had Net Income for 2020 of $9,500,000. The firm invested $1,000,000 in manufacturing equipment during 2019 but made no additional capital investments in 2020. The equipment is being depreciated over five years using straight-line depreciation, starting in 2019. Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2020 with amounts in thousands.

Required:
What is the Net Cash Flow in 2020?

Answers

Answer:

Cash flows from operating activities:

Net income                                                             $9,500,000

Adjustments

Depreciation Expense [$1,000,000/5 years]       $200,000

Net cash flows from Operating activities                                      $9,700

Cash flows from investing activities                                              $0

Cash flows from investing activities                                              $0        

Net cash flow                                                                                    $9,700

Joey, Many and Jim have the following labor supply.
Wage Joey Mandy Jim
$5 4 0 2
$10 8 4 6
$15 12 8 9
a. Who values thier leisure most, Joey, Mandy or Jim?
b. What is the total labor supply given a wage of $15?
c. What if the demand for labor were fixed at 18. what would be the equilibrium wage?

Answers

Answer:

a. Mandyb. 29 units c. $10

Explanation:

a. Mandy enjoys leisure the most

The person who enjoys leisure the most is the one that supplies the least amount of labor. The logic is that if they are not supplying labor then they would be on leisure.

Mandy supplies the least labor so must enjoy leisure the most.

b. Total supply for a wage of 15:

= Joey supply + Mandy supply + Jim supply

= 12 + 8 + 9

= 29 units

c. If demand for labor was fixed at 18:

The equilibrium wage would be the wage that gets those 18 units of labor.

That wage is $10.

At $10, the labor units supplied by all 3 people is:

= 8 + 4 + 6

=18 units

Assume the equilibrium price for a good is $10. If the market price is $5, a:_____________

a. Shortage will cause the price to remain at $5
b. Surplus will cause the price to remain at $5
c. Shortage will cause the price to rise toward $10
d. Surplus will cause the price to rise toward $10

Answers

Answer:

c. Shortage will cause the price to rise toward $10

Explanation:

c. Shortage will cause the price to rise toward $10

The equilibrium price is $10 this any price below the equilibrium price will create a shortage in the market because at price lower than equilibrium price, the demand is greater than the supply. Thus, shortage will push the prices upwards or towards equilibrium price.

Leadership is primarily concerned with assuring:_________.
a. An effective daily operation in the present
b. A legacy of recognition from the past
c. A future vision and surviving change
d. None of these are correct

Answers

Answer:

a. An effective daily operation in the present  

Explanation:

Leadership is a process of social influence in which it maxmize the others efforts for attainting the goals and objectives of an orgaznaition. It is the process of the social influence that maximize the other efforts

So as per the given situation, leadership is concerned with the effectieveness of the daily operation in the current situation

So as per the given situation, the option a is correct

The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first two transactions are completed for you!

Answers

Answer:

Yes, financial statement is a cumulative record of all transactions.

Explanation:

A financial statement is a form of the formal record. Its reports the business, person or an entity. The relevant information is resented by discussion and analysis. Such as balance sheet, income statements, statements of equity, cash flow, and comprehensive statements. Thee by its includes all sorts of financial statements.

Imitation by rivals is most challenging when Group of answer choices resources must be built over time. resources and capabilities require a high level of capital investment. resources are unique. resources and capabilities are accessible and require low levels of investment. capabilities reflect a high level of social complexity and causal ambiguity.

Answers

Answer:

capabilities reflect a high level of social complexity and causal ambiguity.

Explanation:

The more complex of ambiguous a product is, the more challenging it is for rivals to imitate the product

0.58 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 1 On December 1, 2018, your company borrowed $15,000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2019, $2,000; 2020, $3,000; 2021, $4,000; and 2022, $6,000. Show how this loan will be reported in the December 31, 2019 and 2018, balance sheets, assuming principal payments will be made when required.

Answers

Answer:

Balance Sheets          2019       2018

Current liabilities:

Loan Payable         $3,000     $2,000

Long-term Liabilities:

Loan Payable       $10,000   $13,000

Explanation:

a) Data and Calculations:

Principal amount of loan on December 1, 2018 = $15,000

Repayments on November 30 each of the following years:

Year   Repayment  Loan Balance  Current   Long-term

                                                      Liabilities   Liabilities

Dec. 1, 2018            $15,000           $2,000      $13,000

2019,    $2,000        13,000              3,000        10,000

2020,   $3,000        10,000              4,000         6,000

2021,    $4,000         6,000              6,000                0

2022,  $6,000                 0                      0                0

Loan Payable:

December 31, 2018 = $15,000

December 31, 2019 = $13,000

Which is the type of stock that is commonly traded in stock exchanges? Hint: this is the form of company ownership that does not include voting rights on major issues such as the election of directors.

Answers

Answer:

Preferred shares

Explanation:

In simple words, Preferred shares (sometimes known as "preferred") are indeed a type of hybrid security that has both equities and guaranteed income features. A preferred share, like an equity instrument, indicates an ownership stake, has no expiration period and is recorded on the capital side of a corporation 's balance sheet.

In the far off kingdom of Viracien there is a healthy sized population of citizens over 16 years old. The last census indicated a total adult population of 5 million people. This year a recession hit and 237 thousand people were let go from their jobs and are on the hunt to find new work. Because of the recession many took early retirement and there is now a population of 1.3 million who are not working or looking for various reasons. Because of the unrest, the military of Viracein has increased its ranks and is now grown to a total of 50 thousand citizens serving the country. If Viracein uses the same calculation to find the unemployment rate, what is the country’s unemployment rate?

Answers

Answer:

6.5%

Explanation:

Number of people unemployed = 237,000

Labor force = 5 million - 1.3 million - 50,000

Labor force = 3.65 million

Unemployment rate = Number of people unemployed/Labor force*100

Unemployment rate = 237,000/3.65 million*100

Unemployment rate = 6.4931501%

Unemployment rate = 6.5%

You bought one soybean future contract at $5.13 per bushel. What would be your profit (loss) at maturity if the wheat spot price at that time were $5.26 per bushel? Assume the contract size is 5,000 bushels and there are no transactions costs.

Answers

Answer:

Your profit at maturity is:

= $650.

Explanation:

a) Data and Calculations:

Cost of purchase of soybean future contract = $5.13 per bushel

Contract size bought = 5,000 bushels

Maturity spot price = $5.26 per bushel

Profit = Selling Price Minus Purchase cost

= ($5.26 - $5.13) * 5,000

= $0.13 * 5,000

= $650

b) You will be making a profit of $650 ($0.13 * 5,000) from the sale since it was bought at $5.13 per bushel and sold at $5.26 per bushel.  Therefore, a profit of $0.13 ($5.26 - $5.13) per bushel was generated.

Show the change in the market for gasoline that is consistent with the following statement:

"When a war breaks out in the Middle East, the price of gasoline rises, and the price of a used Cadillac falls." (Hint: Assume that used Cadillacs are gas guzzlers that are undesirable to own if gasoline becomes more expensive.)

Answers

Answer:

Supply reduces and supply curve shifts left. Price increases

Explanation:

The Middle East supplies a significant amount of the world's oil which means that conflict there could disrupt the movement of oil in the world.

In this scenario there is a conflict. This conflict would cause the supply of oil to reduce which means that the Supply curve will be forced to shift left to show that it has dropped.

This new supply curve will then intercept with the demand curve at a higher equilibrium price thereby leading to a price increase.

A 10-year loan in the amount of $100,000 is to be repaid in equal monthly payments. The interest rate is 12 percent, compounded monthly. What is the amount of principal paid in the loan payment for month 3

Answers

Answer:

The amount of principal paid in the loan payment for month 3 is:

= $443.45.

Explanation:

a) Data and Calculations:

Loan amount = $100,000

Interest rate per annum = 12%

Period of loan = 10 years or 120 months

Repayment of loan principal and interest = equal monthly payments.

3rd Month Payment:

Total payment = $1,434.71          

Interest                $991.26

Principal =           $443.45

Schedule of Payment for the first 3 months:

Period      PV                         PMT            Interest              FV

1            $100,000.00      $1,434.71       $1,000.00       $99,565.29

2            $99,565.29      $1,434.71         $995.65        $99,126.23

3             $99,126.23      $1,434.71          $991.26       $98,682.79

The bond contract rate determines the annual interest paid by multiplying the bond ______ value by the contract rate.

Answers

Answer:

par value

Explanation:

The bond's contract rate can also be regarded as bond's coupon rate. It can be explained as what the issuing company usually utilized in calculation of what it must pay as regards the interest on the bond. The market rate can be regarded as what other bonds which posses same risk pay in interest.

Coupon rate can as well be explained as nominal yield that is been paid by a fixed-income security. It is been regarded as annual coupon payments that is been paid by the issuer with relativity to the

par value or face of bond.

It should be noted that The bond contract rate determines the annual interest paid by multiplying the bond par value by the contract rate

While it is generally accepted that intellectual property rights provide a method for increasing the rate of return for inventors, some economists believe there are a number of reasons to doubt whether patents provide:

Answers

Answer: a. sufficient incentives for innovation, as well as completely appropriate incentives for innovation

Explanation:

Some economists do not believe that providing intellectual property rights are enough to inspire or compensate for innovation and believe that even more rights should be given to inventors.

They also do not believe that patents are completely appropriate because they tend to expire eventually.

Rains Company is a furniture retailer. On January 14, 2022, Rains purchased merchandise inventory at a cost of $70000. Credit terms were 2/10, n/30. The inventory was sold on account for $300000 on January 21, 2022. Credit terms were 1/10, n/30. The accounts payable was settled on January 23, 2022, and the accounts receivables were settled on January 30, 2022. Which statement is correct

Answers

Answer:

On January 30 , 2022, customers should remit cash in the amount of $297,000

Explanation:

Calculation to determine Which statement is correct

Based on the information given the statement that is correct will be On January 30 , 2022, CUSTOMERS SHOULD REMIT CASH in the amount of $297,000 calculated as:

Cash= (Sales amount × (1−.01))

Cash =$300,000 ×(1-.01)

Cash =$300,000 × .99

Cash = $297,000

g Todd Foley is applying for a $210,000 mortgage. He can select either a $1,470 monthly payment with no points or a $1,323 payment with 4 points. How many months will it take Todd to cover the cost of the discount points if he takes the lower monthly payment

Answers

Answer:

57 months

Explanation:

Calculation to determine How many months will it take Todd to cover the cost of the discount points if he takes the lower monthly

payments

Number of months to cover cost=(.04 x $210,000)/($1470-$1323)

Number of months to cover cost = $8400/147

Number of months to cover cost =57 months

Therefore the number of many months it will take Todd to cover the cost of the discount points if he takes the lower monthly

payments is 57 months

Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 170,000 shares of $6 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 17,000 shares of common stock at $8 per share. Issued 34,000 shares of common stock at $9 per share. Reported a net income of $170,000. Paid dividends of $85,000. Purchased 3,500 shares of treasury stock at $11 (part of the 34,000 shares issued at $9). What is total stockholders' equity at the end of 2021? a. $930,500. b. $522,500. c. $488,500. d. $1,100,500.

Answers

Answer:

c. $488,500

Explanation:

The computation of the total stockholder equity at the end of 2021 is given below:

Common stock issued (17000 × 8) $136,000.00

Another common stock issue (34000 × 9) $306,000.00

Net income  $170,000.00

Less: Dividends  $(85,000.00)

Less: Treasury stock purchase (3500 × 11)  ($38,500.00)

Total Stock holder equity  $488,500.00

The organization charged with protecting investors and the public by requiring full disclosure f financial information by companies offering securities to the public is the:_______
a. Auditing Standards Board.
b. Financial Accounting Standards Board.
c. Government Accounting Standards Boards.
d. Securities and Exchange Commission.

Answers

Answer:

The organization charged with protecting investors and the public by requiring full disclosure f financial information by companies offering securities to the public is the:_______

d. Securities and Exchange Commission.

Explanation:

The SEC (Securities and Exchange Commission) is an organization that has continued to discharge three main responsibilities with regards to the securities market.  It has protected investors' investments in the capital market, maintained fair, orderly, and efficient capital markets, and facilitated capital formation.  It regulates investments and the exchange of securities.  It restores confidence in the capital market. It also provides transparency into the financial workings of U.S. companies.


A company issued bonds 8 years ago with original maturity of 25 years, 7.5% coupon rate with semiannual coupon payments, and a par value of $1,000. The current market interest rate is 11.75%. What is the bond's price?

a. $718.52

b. $690.22

c. $780.75

d. $890.46

e. $814.97​

Answers

The answer of the question is c.$780.75

A company issued bonds 8 years ago with original maturity of 25 years, 7.5% coupon rate with semiannual coupon payments, and a par value of $1,000. The current market interest rate is 11.75%. The bond's price is $718.52. Option A is the correct answer.

To calculate the bond's price, we can use the present value formula. The present value of a bond is the sum of the present value of its future cash flows, which are the coupon payments and the final principal repayment. Option A is the correct answer.

1. Determine the number of periods: The bond has an original maturity of 25 years and semiannual coupon payments, so there are a total of 50 periods (25 years * 2).

2. Calculate the periodic coupon payment: The coupon rate is 7.5% and the par value is $1,000. Therefore, the annual coupon payment is $1,000 * 7.5% = $75. Since there are semiannual coupon payments, the periodic coupon payment is $75 / 2 = $37.50.

3. Determine the market interest rate: The current market interest rate is 11.75%, which is the rate we will use to discount the bond's cash flows.

4. Calculate the present value of the coupon payments: We will use the present value of an annuity formula to calculate the present value of the 50 coupon payments. The formula is: PV = C * (1 - (1 + r)⁻ⁿ) / r, where PV is the present value, C is the periodic coupon payment, r is the periodic interest rate, and n is the number of periods.

Using the formula, PV = $37.50 * (1 - (1 + 11.75% / 2)⁻⁵⁰) / (11.75% / 2), the present value of the coupon payments is approximately $613.74.

5. Calculate the present value of the final principal repayment: The final principal repayment is the par value of $1,000. We will use the present value formula PV = F / (1 + r)ⁿ, where PV is the present value, F is the future value (par value), r is the periodic interest rate, and n is the number of periods.

Using the formula, PV = $1,000 / (1 + 11.75% / 2)^50,

the present value of the final principal repayment is approximately $104.78.

6. Add the present value of the coupon payments and the present value of the final principal repayment to get the bond's price:

$613.74 + $104.78 = $718.52.

Therefore, the correct answer is a. $718.52.

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Phelps, Inc. had assets of $87,938, liabilities of $19,174, and 13,190 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $9,761. The company had assets of $103,319, liabilities of $23,003, 11,527 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $10,719. Required: Calculate EPS for 2018. Calculate ROE for 2018. Calculate the Price/Earnings Ratio for 2018.

Answers

Answer:

Phelps, Inc.

EPS for 2018                                 $0.93

ROE for 2018                                 13.3%

Price/Earnings Ratio for 2018       10.75

Explanation:

a) Data and Calculations:

                             December 31, 2017     December 31, 2018

Assets                             $87,938                      $103,319

Liabilities                            19,174                         23,003

Equity                             $68,764                       $80,316

Outstanding common

 stock                                13,190                         11,527

Stock price per share                                            $10

Net income                      $9,761                       $10,719

EPS for 2018                                                       $0.93 ($10,719/11,527)

ROE for 2018                                                      13.3% ($10,719/$80,316*100)

Price/Earnings Ratio for 2018                            10.75 ($10/$0.93)

EPS (Earnings Per Share) = Net income/Number of outstanding shares

ROE (Return on Equity) = Net income/Equity * 100

Price/Earnings Ratio = Stock price/EPS

Chance, Inc. sold 4,300 units of its product at a price of $137 per unit. Total variable cost per unit is $103, consisting of $71 in variable production cost and $32 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.a. $346,500 b. $499,500 c. $315,000 d. $661,500 e. $337,500

Answers

Answer:

Results are below.

Explanation:

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

Unit product cost= direct material + direct labor + variable overhead

Unit product cost= $71

Now, the total sales and total variable cost:

Total sales= 4,300*137= $589,100

Total variable cost= 4,300*71= $305,300

Finally, the variable costing margin:

Variable costing margin= total sales - total variable cost

Variable costing margin= 589,100 - 305,300

Variable costing margin= $283,800

Sales of battery-powered cars are increasing. People concerned with the environment are the primary buyers of battery-powered cars. Surveys show that people buy battery-powered cars are very concerned about pollution and its long-term impact on the environment. Other research also shows that people with battery-powered cars, compared to others, are more likely to use energy-saving appliances at home.
Which of the following statements best expresses the main conclusion of the above argument?
1. People concerned with the environment are likely to use energy-saving appliances.
2. Primary buyers of battery-powered cars are those concerned with the environment.
3. More people are concerned about the environment today than in the past.

Answers

Answer:

There are two statements that can better express the main conclusion of the above argument:

1. People concerned with the environment are likely to use energy-saving appliances.

2. Primary buyers of battery-powered cars are those concerned with the environment.

Explanation:

It is correct to say that both statements express the main conclusion of the above argument.

In the first premise it is said that "People concerned about the environment are the main buyers of battery-powered cars."

In the second premise, it is said that: "people with battery-powered cars, compared to others, are more likely to use energy-saving appliances at home."

Therefore, it is possible to conclude that the main buyers of battery-powered cars are those who care about the environment and also those who save energy at home.

What is the Selling Division’s opportunity cost per unit from selling 3,000 units to the Purchasing Division? g

Answers

Answer:

the opportunity cost per unit is $19

Explanation:

The computation of the opportunity cost per unit is shown below:

The opportunity cost per unit is

= Selling price per unit - variable cost per unit

= $34 - $15

= $19

Hence, the opportunity cost per unit is $19

The same should be considered and relevant

We simply deduct the variable cost per unit from the selling price per unit so that the opportunity cost could come

The per-unit opportunity cost of the Selling Division is $19  and the total opportunity cost will be $57,000.

What is an opportunity cost?

Opportunity cost refers to the cost of a foregone alternative. It is the profit that can be achieved by choosing another available alternative.

In the given question, the company has two options, either to sell the product in the market or to sell it to the purchasing division.

If the company sells the product to the Purchasing Division, the opportunity cost will be the profit that can be achieved by selling the same in the market.The opportunity cost will be the contribution lost by not selling the product in the market.

The opportunity cost will be:

[tex]\rm Opportunity \:cost = Selling\:price - Variable \:cost\\\\\rm Opportunity \:cost = \$34 - \$15\\\\\rm Opportunity \:cost = \$19[/tex]

The number of units sold to the Purchasing Division is 3,000.

Therefore the total opportunity cost will be:

[tex]\rm Total \:opportunity \:cost = Number \:of\:units \times Opportunity \:cost\:per\:unit\\\\\rm Total \:opportunity \:cost = 3,000 \times \$19\\\\\rm Total \:opportunity \:cost =\$57,000[/tex]

Therefore the opportunity cost is $57,000.

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Which of the motivational theories below argues that employee productivity increases as managers pay more attention to their employees? Maslow's Hierarchy of Needs Two Factor Theory Classical Theory & Scientific Management Hawthorne Effect

Answers

Answer: Two Factor Theory

Explanation:

The two factor theory is also referred to as the Herzberg's motivation-hygiene theory and it states that job satisfaction and job dissatisfaction in a workplace are caused by different factors and these factors act independently of each other.

The factors are the hygiene factors and

the motivating factors. If the hygiene factors isn't present, an employee will work less. On the other hand, the motivating factors will make an employee to work harder when it's present.. Two factor theory argues that employee productivity increases as managers pay more attention to their employees.

Heidi is having trouble understanding the Black Lives Matter (BLM) movement and why her workplace sent out an email affirming the company's commitment to diversity and inclusion. This is probably because as a white woman from a small town with little exposure to diversity efforts, Heidi has not had much education about what BLM is trying to accomplish. She is wrestling with this new information about systemic racism and ultimately dismisses it as unfounded because it is contrary to her past experiences. This is an illustration of which of the following. Pick the best answer from the list based on our book's discussion of these terms:

a. Stereotyping
b. An entrenched mental model
c. Leader-Member Exchange Theory
d. Ethnocentrism
e. Social Identity Theory

Answers

Answer:

e. Social Identity Theory

Explanation:

Identity is the sense of who  and what we are and also where do we belong. According to this social identity theory, people is most likely to [tex]\text{favor their ingroup}[/tex] over an outgroup as the former is a part of their self-identity. It means that people tend to overestimate the features of their own group to which they belong whereas they try to minimize the characteristics of the other groups.

In the context, Heidi is finding it difficult to understand about the new email by the company about the Black Lives Matter movement. She is a woman from a small town and do not have much exposure to the diversity efforts. She dismisses the email as unfounded as it was contrary to her past experiences. This shows an example of social identity theory.

A physical count of merchandise inventory on July 30 reveals that there are 170 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is

Answers

Answer: $3,502

Explanation:

When using FIFO, It means that the earliest goods were sold first which means that the later goods would be the ones in the ending inventory.

The 170 units on hand would therefore include:

The 51 units which cost $22(170 - 51) units which cost $20

Ending inventory = (22 * 51) + ((170 - 51) * 20)

= 1,122 + (119 * 20)

= 1,122 + 2,380

= $3,502

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