Answer:
Cost of merchandise sold = $ 28
Gross profit = $ 13
The ending inventory under the LIFO method = $ 18
Explanation:
Given:
October 5,
Purchased units = 1
Unit cost = $5
on October 12,
Purchased units = 1
Unit cost = $ 13
On October 28,
Purchased unit = 1
Unit cost = $ 15
Total cost of the 3 units purchased = $33
Now, the unit sold on October 31 will be the unit purchased in the end i.e on October 28
thus,
Cost of merchandise sold = $ 28
Gross profit = Selling price of the unit - Unit price of purchase
or
Gross profit = $ 28 - $ 15 = $ 13
now, the ending inventory under the LIFO method = $ 5 + $ 13 = $ 18
Having money with which to buy goods and services is called purchasing power
Two taxes on employers, two taxes on employees, OASDI and HI taxes and taxes on the net earnings of the self-employed
Answer:
Allocated MOH= $432,000
Explanation:
Giving the following information:
Predetermined overhead rate of $8.00 per machine-hour
Actual machine-hours worked= 54,000 hours
<u>To calculate the allocated overhead, we need to use the following formula:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 8*54,000
Allocated MOH= $432,000
Answer:
$24.59 or $24.6 or $25
Explanation:
Value of the share is the present value of dividend associated with that share. We need to calculate the present value of each dividend at year 2 and add them to determine the value of the share.
As given there is no dividend for 3 years,next dividend of $2.4 dividend will be discounted for two years and $3 dividend for three years. After that we need to calculate the present value using DVM and discount this value for 4 years.
Value of Stock = [ $2.4 (1+14%)^-2 ] + [ $3 (1+14%)^-3 ] + [ $3(1+5%) / (14%-5%) ] x (1+14%)^-4
Value of Stock = $1.85 + $2.02 + $20.72 = $24.59
