Warnerwoods Company uses a perpetual inventory system. It
entered into the following purchases and sales transactions for
March.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||
| Mar. | 1 | Beginning inventory | 100 | units | @ $50.00 per unit | |||||||
| Mar. | 5 | Purchase | 400 | units | @ $55.00 per unit | |||||||
| Mar. | 9 | Sales | 420 | units | @ $85.00 per unit | |||||||
| Mar. | 18 | Purchase | 120 | units | @ $60.00 per unit | |||||||
| Mar. | 25 | Purchase | 200 | units | @ $62.00 per unit | |||||||
| Mar. | 29 | Sales | 160 | units | @ $95.00 per unit | |||||||
| Totals | 820 | units | 580 | units | ||||||||
4. Compute gross profit earned by the company
for each of the four costing methods. For specific identification,
the March 9 sale consisted of 80 units from beginning inventory and
340 units from the March 5 purchase; the March 29 sale consisted of
40 units from the March 18 purchase and 120 units from the March 25
purchase. (Round weighted average cost per unit to two
decimals.)
In: Accounting
Dollar Peg for Hong Kong. The Hong Kong dollar has long been pegged to the U.S. dollar at 7.75 . When the Chinese yuan was revalued in July 2005 against the U.S. dollar from 8.31 to 8.12, how did the value of the Hong Kong dollar change against the yuan? The original HK$/Yuan cross rate was HK$ nothing/Yuan. (Round to four decimal places.)
In: Finance
If Germans purchase many additional U.S. automobiles next year,
Select one:
a. the supply of dollars currently in the New York currency market remains constant.
b. the freely-floating euro to dollar exchange rate would become pegged
c. the U.S. trade surplus next year will most certainly increase.
d. the demand for dollars in the Frankfurt currency market will most likely increase
In: Finance
A foreign exchange student with limited knowledge of the U.S. health care system has ask you to explain the current health care reform movement in the U.S.. Please provide a summary of the key elements of the various reform initiatives and how they may impact the system. Since your audience does not have a knowledge or appreciation of the current system, a limited historical review/explanation may be needed.
In: Economics
In: Statistics and Probability
A recent FCC report stated that80% of all U.S. adults are internet users. In a poll run recently by PEW research of 3.011 adults, 2,478 said that they use the internet. A) Test the claim of the FCC at the .05 level. B) If the FCC claim were that more than 80% of all U.S. adults use the internet, how would that change your alternative hypothesis and your reject region?
In: Statistics and Probability
In: Economics
Alex is taking two courses; algebra and U.S. history. Student records indicate that the probability of passing algebra is 0.33, that of failing U.S. history is 0.33, and that of passing at least one of the two courses is 0.85. Find the probability of the following.
(a) Alex will pass history.
(b) Alex will pass both courses.
(c) Alex will fail both courses.
(d) Alex will pass exactly one course.
In: Statistics and Probability
In addition to preparing financial statements in accordance with GAAP, U.S. companies may be required, in the near future, to prepare financial statements according to International Financial Reporting Standards (IFRS). If the United States adopted IFRS standards, what would be the advantages and disadvantages? Does it make sense for U.S. companies to change to IFRS? How would IFRS impact a comparative analysis of an organization's financial statements?
In: Accounting
1. What forces may influence a firm to build factory #5 on U.S. soil?
2.. List and discuss some of the GOVERNMENT REGULATIONS a firm must deal with if it builds and operates a factory on U.S. soil.
3.. What is “infrastructure”, exactly? Please give five examples. What role does infrastructure play in a firm’s decision to build factory #5 in one particular country?
In: Economics