Selma produces t-shirts. From the consumers' perspective, her t-shirts are not different from t-shirts offered by other sellers. Selma sells her t-shirts at the going market price of $8 per t-shirt. Her total variable cost is $25 when she produces four t-shirts and $32 when she produces five t-shirts. Her total fixed cost is $20. What is Selma's marginal revenue from selling the fifth t-shirt? Question 36 options: $8 $10.40 $12 $7 ..
In: Economics
FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
| Beginning inventory | 45 units at $42 |
| Sale | 42 units at $59 |
| First purchase | 27 units at $44 |
| Sale | 15 units at $61 |
| Second purchase | 24 units at $46 |
| Sale | 20 units at $62 |
The firm uses the perpetual inventory system, and there are 19 units of the item on hand at the end of the year.
a. What is the total cost of the ending
inventory according to FIFO?
b. What is the total cost of the ending inventory according to LIFO?
In: Accounting
FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year:
Beginning inventory 20 units at $48
Sale 17 units at $72
First purchase 18 units at $51
Sale 6 units at $74
Second purchase 28 units at $53
Sale 13 units at $76
The firm uses the perpetual inventory system, and there are 30 units of the item on hand at the end of the year.
a. What is the total cost of the ending inventory according to FIFO? $ b. What is the total cost of the ending inventory according to LIFO?
In: Accounting
An open-end mutual fund has the following assets. Please calculate Net Asset Value per share and total cost of buying one share of the mutual fund.
| Stock | Shares | Price |
| A | 2,000,000 | $45.00 |
| B | 2,000,000 | $78.00 |
| C | 2,000,000 | $13.00 |
| D | 2,000,000 | $26.00 |
| Item | Value |
| front-end load | $10 per share |
| back-end load | $5 per share |
| current mutual fund shares | 2,000,000 |
| management fees | 0.15% per month |
What is the NAV?
What is Total Purchasing Cost Per Fund share?
In: Finance
The Johnson Company manufactures designer blankets for international distribution. The standard costs for the manufacturer of these high-quality blankets are:
Standard Costs Actual Costs
Direct Materials 4,000 pounds at $42 4,300 pounds at $40
Direct Labor 5,200 hours at $15 5,500 hours at $14
Instructions:
In: Accounting
1–5 What effect does an increase in the activity level have on—
a. Average fixed costs per unit?
b. Variable costs per unit?
c. Total fixed costs?
d. Total variable costs?
1–6 Define the following terms: (a) cost behavior and (b) relevant range.
1–7 What is meant by an activity base when dealing with variable costs? Give several
examples of activity bases.
1–8 Managers often assume a strictly linear relationship between cost and the level of activity.
Under what conditions would this be a valid or invalid assumption?
In: Accounting
FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
| Beginning inventory | 31 units at $42 |
| Sale | 24 units at $63 |
| First purchase | 39 units at $44 |
| Sale | 37 units at $64 |
| Second purchase | 28 units at $46 |
| Sale | 7 units at $65 |
The firm uses the perpetual inventory system, and there are 30 units of the item on hand at the end of the year.
a. What is the total cost of the ending
inventory according to FIFO?
$
b. What is the total cost of the ending
inventory according to LIFO?
$
In: Accounting
FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
| Beginning inventory | 8,100 units at $180 |
| Sale | 5,300 units at $300 |
| First purchase | 15,000 units at $185 |
| Sale | 13,000 units at $300 |
| Second purchase | 16,000 units at $192 |
| Sale | 14,000 units at $300 |
The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year.
a. What is the total cost of the ending
inventory according to FIFO?
$
b. What is the total cost of the ending inventory according to LIFO?
In: Accounting
Ceasar pants standard cost included 0.70 metres of direct material per pants at $3.80 per metre. Ceasar actually used 32,500 metres of direct material at a cost of $3.75 per metre to produce 50,000 pants.
a) Calculate the direct materials price variance: $ Answer
b) Is the direct materials price variance favourable or unfavourable?
c) Calculate the direct materials quantity variance: $ Answer
d) Is the direct materials quantity variance favourable or unfavourable?
e) Calculate the total direct materials variance: $ Answer
f) Is the total direct materials variance favourable or unfavourable?
In: Accounting
FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
| Beginning inventory | 24 units at $46 |
| Sale | 12 units at $74 |
| First purchase | 26 units at $48 |
| Sale | 25 units at $74 |
| Second purchase | 14 units at $51 |
| Sale | 13 units at $74 |
The firm uses the perpetual inventory system, and there are 14 units of the item on hand at the end of the year.
a. What is the total cost of the ending
inventory according to FIFO?
$
b. What is the total cost of the ending
inventory according to LIFO?
$
In: Accounting