During May the following changes in inventory took place: Show all calculations:

May 1 Balance 1,100 units @ $25 = 27500

  14 Purchases   800 units @ $36 = 28,800

  24 Purchases   700 units @ $30 = 21,000

May 8   Sold                      500 units @ $50

19 Sold                      300 units @ $49

29   Sold                      600 units @ $54

A physical count indicates that 1,200 units are on hand on May 31.

Part A: Assuming the company uses the perpetual method.

A. Compute the Cost of Goods Sold to be recognized in the journal entry on May 29 assuming:

1. LIFO

                              2. FIFO

               B. What is the moving average cost per unit of ending inventory? (round to the nearest penny)

Part B: Assuming that the company uses the Periodic method, determine the following:

               A. Ending Inventory under LIFO: ________________________

               B. Cost of Goods Sold Under FIFO: _______________________

               C. Weighted Average cost per unit for the month: __________________

In which way(s) does urbanization increase genetic drift (select all that apply)?

Environmental changes leading to an increase in genome-wide mutation rates

New populations establishing themselves in the urban environment leading to a founder effect

High number of roads in urban environment, cutting habitats in smaller fragments

Novel selective pressures in the environment such as pollutants leading to bottlenecks

An industrial coal-fired boiler for process steam is equipped with a 10-year-old electrostatic precipitator (ESP). Changes in coal quality have caused stack emissions to be in noncompliance with federal standards for particulate. Two mutually exclusive alternatives have been proposed to rectify this problem (doing nothing is not an option). New Baghouse: Capital investment $1,140,000, Annual operating expenses $73,200. New ESP: Capital Investment $992,500, Annual operating expenses $115,500. The life of both alternatives is 10 years, the effective tax rate is 40% and the after-tax MARR is 9%. Both alternatives qualify as seven-year MACRS (GDS) equipment. Make a recommendation regarding which alternative to select based on after-tax analysis using NPV.

Temperature during Phase Changes

1. Imagine you have a block of steel much below its melting temperature and you start heating it. What happens to its temperature?

(I said that the temperature does not increase)

2. The same block has now reached its melting point and is just starting to melt. You still keep adding head to it. What happens to its temperature?

(I said that the temperature remains at the melting point until the block is completely melted)

3. The steel block has now completely melted. You still keep adding head to it. What happens to the temperature of this molten blob of steel?

(I think it might stay the same, but I am not sure)

Can you confirm my answers and explain the reasoning if they are wrong? Thank you.

1. Of the physical changes listed below, which one absorbs energy?

1A. Which equilibrium phase on the Fe-Fe

phase diagram changes to Martensite when cooled quickly enough?

A. Austenite B. Ferrite C. Bainite D. Cementite

1B. For a tapered cross section metal bar that contracts when cooled, what is the stress status when the part is quenched to room temperatures (25 pts)?

A. The edge is in compression and the heavier section is in tension B. The edge is in tension and the heavier section is in compression C. No residual stresses will be built in the component

1C. A cylindrial carbon steel ingot is cooled from austenite temperatures to room temperatures, what is the stress status in the ingot (25 pts)?

A. The surface of the ingot is incompression and the center of theingot is in tension B. The surface of the ingot is in tension and the center is in compression C. No residual stresses will be built in the component

What negative effects have resulted from the material changes? Consider the full material life cycle.

Would it actually be more sustainable from an environmental, economic, and/or social perspective to return to materials that were used in the past? Why or why not?

(Can you please not answer handwriting type it)

1. Discuss ecological change in the Americas. Topics could include changes among animal species, ecological damage caused by humans, and the introduction of new crops into the Americas. Address the biological and cultural exchange between Europeans and the Native Americans.

2. Compare and contrast the reasons and motivations for the settlement of each of the five main colonies and describe the relationship of each of the five settlements with the Native Americans of that region.

1)At equilibrium expenditure, unplanned changes in inventory:

a-Must be positive

b-Must be zero

c-Must be negative

d-Might be either positive or negative

2)An economy that is above its natural real GDP level means that:

a-Is in an inflationary gap

b-The unemployment rate is less than the natural unemployment rate

c-The labor market is in equilibrium

d-A, and B

3)If government spending is larger than tax collection, we have:

a-Equilibrium

b-Budget deficit

c-Budget surplus

d-Neutral status

4)An expansionary fiscal policy is represented by:

a-An increase in taxes

b-A decrease in government spending

c-An increase in price level

d-A decrease in real output

Described below are six independent and unrelated situations involving accounting changes. Each change occurs during 2018 before any adjusting entries or closing entries were prepared. Assume the tax rate for each company is 40% in all years. Any tax effects should be adjusted through the deferred tax liability account.

A. Fleming Home Products introduced a new line of commercial awnings in 2017 that carry a one-year warranty against manufacturer’s defects. Based on industry experience, warranty costs were expected to approximate 2% of sales. Sales of the awnings in 2017 were $2,900,000. Accordingly, warranty expense and a warranty liability of $58,000 were recorded in 2017. In late 2018, the company’s claims experience was evaluated and it was determined that claims were far fewer than expected: 1% of sales rather than 2%. Sales of the awnings in 2018 were $3,400,000, and warranty expenditures in 2018 totaled $77,350.
B. On December 30, 2014, Rival Industries acquired its office building at a cost of $880,000. It was depreciated on a straight-line basis assuming a useful life of 40 years and no salvage value. However, plans were finalized in 2018 to relocate the company headquarters at the end of 2022. The vacated office building will have a salvage value at that time of $640,000.
C. Hobbs-Barto Merchandising, Inc., changed inventory cost methods to LIFO from FIFO at the end of 2018 for both financial statement and income tax purposes. Under FIFO, the inventory at January 1, 2018, is $630,000.
D. At the beginning of 2015, the Hoffman Group purchased office equipment at a cost of $264,000. Its useful life was estimated to be 10 years with no salvage value. The equipment was depreciated by the sum-of-the-years’-digits method. On January 1, 2018, the company changed to the straight-line method.
E. In November 2016, the State of Minnesota filed suit against Huggins Manufacturing Company, seeking penalties for violations of clean air laws. When the financial statements were issued in 2017, Huggins had not reached a settlement with state authorities, but legal counsel advised Huggins that it was probable the company would have to pay $140,000 in penalties. Accordingly, the following entry was recorded:

Loss—litigation 140,000
Liability—litigation 140,000

Late in 2018, a settlement was reached with state authorities to pay a total of $284,000 in penalties.

At the beginning of 2018, Jantzen Specialties, which uses the sum-of-the-years’-digits method, changed to the straight-line method for newly acquired buildings and equipment. The change increased current year net earnings by $379,000.

Required:
For each situation:
1. Identify the type of change.
2. Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2018 related to the situation described.