if davidson has 7,000 units on hand at december 31, the cost of ending inventory under the average-cost method is
Answers
The cost of ending inventory under the average-cost method is $75,250.
The average cost method is a method used to determine the cost of inventory in which the cost of goods sold is determined by determining the weighted average of the cost of inventory.
Average cost method = total cost of inventory bought / total units bought
(5,000 x $8) + (15,000 x 10) + (20,000 x 12) = $430,000
Total units bought = 5000 + 15,000 + 20,000 = 40,000
Price of inventory = $430,000 / 40,000 = $10.75
Cost of ending inventory = $10.75 x 7000 = $75,250.
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Related Questions
What are payroll taxes levied on?
A.
a business's profits
B.
an individual's dividend income
C.
the wages or salaries of a company's employees
D.
the goods and services purchased by people
E.
a piece of land
Answers
Answer:
D
Explanation:
cus im like that
Payroll taxes are levied on the wages or salaries of a company's employees. Hence, Option (C) is correct.
Payroll taxes are typically withheld from an employee's paycheck by the employer and are used to fund various government programs and social benefits.
Payroll taxes serve as a means for governments to generate revenue that goes towards funding programs such as Social Security, Medicare, unemployment insurance, and other social welfare initiatives.
The specific rates and regulations surrounding payroll taxes can vary by country and jurisdiction.
The taxes are typically calculated as a percentage of an employee's income and are withheld directly from their paycheck, with the employer responsible for remitting the taxes to the appropriate government agency.
Thus, payroll taxes provide the necessary funding for government programs and social benefits.
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You were thrilled when your employer named you the new Southeast Asia manager and put you in charge of setting up the organization’s office there. But in only your second week at the new location, you encountered something unusual. A local government worker informed you that he would process your permit applications and other paperwork more quickly if you were willing to give him a cash payment, otherwise it may take up to 18 months to process them. Where you come from, that’s a bribe, which is both unethical and illegal. Your career is riding on this promotion, so what should you do?
Answers
Bribery is simply known as an offence where an individual is offered or received of gifts or rewards. It can be in monetary or non monetary terms
Conclusively, Since my career and future is on the line, making a mistake of accepting of the bribe is never an option and also to avoid taking the wrong step, consulting the ethics committee will be the right thing to do.
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when would sunk costs be irrelevant for current decision making?
Answers
Sunk cost are always irrelevant when making current decisions.
Sunk cost is the cost that has already been incurred and cannot be recovered. Sunk cost should not be considered when making future economic decisions.
An example of sunk cost: A farmer buys a piece of land for $100,000. He plants on the land. Years later, the land becomes infertile. The farmer is considering selling the land. In this question, the cost of the land is sunk cost. The sunk cost is $100,000. The farmer should not consider this cost when determining if to sell the land or not.
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what is one characteristic of a command economy? citizens are responsible for providing their own health care. citizens can easily start their own businesses. the government controls the prices of most goods. the government prohibits the use of money.
Answers
One of the characteristic of a command economy is : The government controls the prices of most goods.
What is a command economy?A command economy is an economy controlled by the government as opposed to being controlled by fluctuations in the market. Here, the government determines what items will be produced, how much of them, and at what price they will be sold.
It is to be noted that a command economy is one of the features of communist society in which the government also control investment and income.
Hence, one of the characteristic of a command economy is that the government controls the prices of most goods.
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Answer:
The government controls the prices of most goods.
Explanation:
Which statement describes the effect of inflation?
A. Inflation does not affect the value of an object.
B. Inflation does not affect the cost of an object.
C. Inflation increases the cost of an object or decreases the value of
an object.
D. Inflation decreases the cost of an object or increases the value of
an object
Is it C?
Answers
Inflation is a decrease in the purchasing power of money, ... As a currency loses value, prices rise and it buys fewer goods and services
The statement that best describes the situation and the effect of inflation is the option C). Inflation increases the cost of an object or decreases the value of an object.
What is the effect of the inflation?Inflation refers to the general increase or rise in the prices of goods and services in an economy. It is the rate of increase in prices over a given period of time. It also lowers the values of pensions, savings, and Treasury notes.
Inflation played a very significant role in the development of any country as it effect it in both the negative and positive way. It raises the prices of both the goods and services, which lower down the purchasing power of the people.
Basically, it can be said that the Inflation occurs when there is a broad increase in the prices of the goods and services.
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the pitfalls of a differentiation strategy include
Answers
The pitfalls of a differentiation strategy include many methods such as "attempting to differentiate using easily copied features."
Other methods that could be a pitfall for differentiation strategy includes the following:
When firms differentiate based on the features, they believe buyers do not value.
When firms differentiate based on price, for example, firms charge higher prices to create a premium image.
Differentiation strategy in business is a method businesses or firms use to create distinct products for consumers, and it is expected to give the firms a competitive advantage over rivals.
Hence, in this case, it is concluded that there are various pitfalls in differentiation strategy firms should be aware of.
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a demand curve shows the relationship between price and _________________ on a graph.
Answers
Answer:
relationship between price and quantity demanded
Explanation:
Plz Mark Brainliest
A demand curve shows the relationship between price and quantity demanded.
What is the demand curve?
The demand curve is a downward sloping curve that shows the relationship between price and quantity demanded. The relationship between price and quantity demanded is negatively related. As price increases, the quantity demanded decreases and as price decreases, the quantity demanded increases.
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Help pls I need help
Answers
Answer:
The answer is "a short period of time".
Answer:
a short period of time
Explanation:
i dont know lol
What is an accountant
what do they do for a living
Answers
Answer:
An accountant is a professional who is responsible for keeping and interpreting financial records. Most accountants are responsible for a wide range of finance-related tasks, either for individual clients or for larger businesses and organizations employing them
Explanation:
________ is the process of examining data sets in order to draw conclusions about the information they contain.
Answers
Answer:
Data analytics
Explanation:
o d
Of the following, which is NOT in the socio-economic category of managed trade?
a. Embargoes
O b. Countertrade
.
O
O O O
c. Ethics and safety
5.
O
O d. Export cartels
7.
O
O e. The infant industry argument
8.
o
9.
a
10.
o
11.
о
12.
O
13.
оо
14.
Answers
Answer:
D.
Explanation:
If Frica Morrison a machine operator at Stanley Foundry, makes $513.66 a week and has 33 in FIT withheld, how many allowances has she claimed?
A 0
B 1
C 2
D 3
Answers
Using the Single's Person Weekly payroll distribution , the number of allowances claimed by Frica Morrison will be 3.
Given that :
Weekly pay = $513.66Federal income tax withheld = 33From the payroll table, Frica's weekly pay falls inbetween $510 - $520 ; checking along the row, we can see from the table(attached) that Federal income tax withheld of $33 falls under the 3 allowances claimed.
This means that for Frica to have $33 withheld from his weekly pay of $513.66, then he must have claimed 3 allowances.
Therefore, the Number of allowances claimed by Frica Morrison is 3.
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to find the total bond value, add the present value of the amount paid at maturity to the _____ of the annual coupon payments.
Answers
Hope this helps!
what are the risks of partnering? select all that apply.
Answers
withholding taxes for federal and state income tax are based upon which items?
Answers
Manufactured truck parts are part of which industry
A. Eloctronics
B. Chemicals
C.machinery
D.transportation equipment
Answers
Answer:
c
Explanation:
Answer:
c
Explanation:
general mills has a variety of brands in its snacks category, including chex, nature valley, fiber one, and cascadian farm. this represents a
Answers
Answer:don't cheat in this class I will tell ur professor in Bemidji about u
Explanation:
the contribution margin income statement allows users to easily judge the impact of a change in ______ on profit.
Answers
The blank space has been correctly filled below:
The contribution margin income statement allows users to easily judge the impact of a change in selling price, cost, or volume on profit.The contribution margin income statement is an evaluation of a former sales period. Entrepreneurs use this procedure to determine whether they made a profit or loss during the period.
After their evaluation, they realize the operating income or net income. The contribution margin is generated using this formula,
Net product revenue - Total variable cost ÷ product revenue.
A proper understanding of the fixed and variable costs is essential to accurately calculate the contribution margin.
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Consider a Malthusian economy. For each of the following scenarios, use the diagrams to illustrate what happens to a country’s population size and living standards, ceteris paribus. Clearly explain what happens to the equilibrium and describe the transition to the new equilibrium if any.a. Marrying late slows down population growth.b. An earthquake kills half of the population and destroys half the land.
Answers
In the situations presented, what happens to the population and living standards is that they improve significantly avoiding a Malthusian catastrophe.
Malthusianism is a sociological concept that refers to the theory developed by Thomas Malthus in which he states that population growth at the rate that is being done will result in a decrease in resources for life, that is what he defined as Malthusian catastrophe.
According to the above, the situations presented would be a way of delaying the Malthusian catastrophe because if people marry late, the probability of having children is reduced for biological reasons. In addition, the number of children is going to be reduced.
On the other hand, if an earthquake occurs that destroys half the world and kills half the population, the Malthusian catastrophe is delayed because the available resources would increase in relation to the existing population.
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Advertising plans include: (select 3 that apply)
HELP ASAPSelect 3 correct answer(s)
developing a marketing strategy
evaluating the results of the advertising
determining the target market
setting an advertising budget
o discrediting the competition
Answers
Advertising plans include defining the target market, setting an advertising budget, and evaluating advertising results.
An advertising plan can be defined as a strategy used by companies to:
attract and retain consumers.For this, it is necessary for the organization to define its target market, the necessary budget and the communication channels where its advertising will be shown.
It is also essential to monitor and evaluate advertising results to understand how advertising has impacted audiences and achieved expected results.
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Answer:B,C,D
Explanation:
Look around your room or in your house and find five different objects and identify where they were made. In at least 100 words, discuss how you have personally benefited from trade and provide at least 2 examples. Identify 1 positive impact of trade on your life and 1 way that you have been negatively impacted also.
Answers
Answer:
Throughout my home, there are many objects that were made in many different places. These objects, though they may seem pedestrian, are highly significant in their ability to help and serve. One of these objects includes my television. This trade occurred at Best Buy, where I gave $5,000 U.S dollars in turn for a continuous flow of information. I have since been positively impacted, as I am always aware of my surroundings (I.e. news) and I can keep up with the latest shows. Another example is my refrigerator. My refrigerator allows me to, once again, connect to the internet and keep in touch with those around me. This product has also impacted me, as it makes life much easier. When at the grocery, I am able to search on my phone and look inside to see what I may, or may not, need.
Explanation:
Which of the following is an example of capital loss?
Answers
what is the name of the file management application?
Answers
Answer:
Traditional file management applications such as File Explorer — the de facto file manager in Windows — are powerful enough only as far as personal use is concerned. Put simply, they are basic tools designed to help users manage files and folders on local computers.
Two homebuilders are building homes in nearby subdivisions. One is offering 2,500-square-foot homes with two-acre yards. The other is offering a similarly sized house with quarter-acre yards. The builder offering the smaller lots cannot keep up with demand. The builder offering the larger lots has several unsold houses. The builder with the larger lots could use ____ to determine why his homes are not selling.
Answers
Answer: estimation
Explanation:
As per the given situation, Proactive customer monitoring might be used by the builder with the bigger lots to figure out why his homes aren't selling.
What is Proactive customer monitoring?The goal of proactive monitoring is to proactively seek out possible problems before they become serious obstacles for their company. Because proactive monitoring foresees problems, one can deal with them before an application crashes or performance degrades.
Homes are being constructed in surrounding communities by two homebuilders. One presents homes with two-acre yards that are 2,500 square feet in size. The other is providing a home with a similar size and quarter-acre yards.
The smaller lots are being offered by a builder who is unable to meet demand. The developer who is offering the larger lots has a number of unsold homes.
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what type of cost remains the same per unit at every level of activity?
Answers
Answer:
A variable cost
Explanation:
A variable cost remains the same per unit at every level of activity.
I hope this helps.
if gdp is $15 trillion, consumption is $9 trillion, government spending is $2 trillion, investment is $3 trillion, and exports are $3 trillion, then imports must be $____ trillion.
Answers
The imports of this country are around $2 trillion.
The GDP of a nation refers to the value of all the final goods and services produced in the country in that year. It is calculated by the formula:
GDP = Consumption + Government Spending + Investment + Exports - Imports
15 = 9 + 2 + 3 + 3 - Imports
15 = 17 - Imports
Imports + 15 = 17
Imports = 17 - 15
Imports = $2 Trillion
In conclusion, the imports are $2 Trillion
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when an externality is present, the market equilibrium is
Answers
Answer:
Effecient
Explanation:
And the equilibrium maximizes the total benefit to society as a whole
gen-tech sells merchandise on account for $4,000 to acorn company with credit terms of 2/10, n/30. within the discount period, acorn company returns $500 of damaged merchandise and a check for ________ to settle the account.
Answers
Within the discount period, acorn company returns $500 of damaged merchandise and a check for $3,450 to settle the account
Using this formula
Check amount=(Merchandise sold- Merchandise return)- [(Merchandise sold- Merchandise return)× Discount]
Where:
Merchandise sold=$4,000
Merchandise return=$500
Discount=2%
Let plug in the formula
Check amount=($4,000-$500)-[($4,000-$500)×2%]
Check amount=$3,500-($3,500×2%)
Check amount=$3,500-$70
Check amount=$3,430
Inconclusion within the discount period, acorn company returns $500 of damaged merchandise and a check for $3,450 to settle the account.
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southerners complained that their economy was crippled by the __________.
Answers
Answer:
tariff of 1828
Explanation:
a market that operates outside the legal system, either by selling illegal goods or by selling goods at illegal prices is referred to in economics as a
Answers
Answer:
the answer is black market