Amount of cost of goods sold for the month

Assignment Help Accounting Basics
Reference no: EM13152557

For the current month, the beginning inventory consisted of 1,200 units that cost $12 each. During the month, the company made two purchases: 500 units at $13 each and 2,000 units at $13.50 each. Checkers also sold 2,150 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? A. $27,843. B. $28,950. C. $26,975. D. $27,950.

Reference no: EM13152557

Questions Cloud

Compare the quality of the neurosurgical staff of hospital : Record the tumor grade and whether the patient was still alive one year after surgery. University Hospital County Hospital Private Hospital Which hospital has the best record?
Discuss the process of natural selection : Discuss the process of natural selection as defined by Darwin. How did Darwin's theories differ from his predecessors? In your opinion, have his theories proved to be correct? Why and why not?
Types of intangible assets : A. Indefinite life intangibles other than goodwill. The recoverability test is used to determine any impairment loss on which of the following types of intangible assets?
What are the three products of glycolysis : During what stages of cell respiration is ATP made by substrate-level phosphorylation?Where in the cell are the enzymes of the krebs cycle located?Where in the cell are the enzymes of glycolysis located? What are the three products of glycolysis w..
Amount of cost of goods sold for the month : Checkers also sold 2,150 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? A. $27,843. B. $28,950. C. $26,975. D. $27,950.
What is the value of k at 75°c : The rate constant of a reaction is 4.7 10-3 s-1 at 24°C and the activation energy is 33.6 kJ/mol. What is the value of k at 75°C?
Nonqualified deferred compensation : Nonqualified Deferred Compensation What is it? Nonqualified Deferred Compensation When is it indicated? Deferred compensation to executives and key employees only Additional deferred compensation to executives receiving maximum qualified plan bene..
How each supports the theory of evolution : Demonstrate your understanding of the evidence of evolution by 1) defining the three major forms of evidence and how each supports the theory of evolution and 2) discussing an example of each that is not in the textbook or lecture.
Expressions for all sums of squares by dot-and-bar notation : Write out expressions for all sums of squares (in terms of the temperatures yijk m , using the dot-and-bar notation), including the (corrected) total sum of squares and error sum of squares.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Computing regular corporate tax and corporate amt

What is Gigantic Corporation's net tax liability if its taxable income is $325,000 and it has a general business credit of $125,000?

  Calculate the maintenance cost

Calculate the maintenance cost that would be budgeted for the month of May in which 5,700 machine hours are planned to be used.

  Practice problem for types of cost

In the Mattel factory they are spending hours upon hours making the new action figures for the upcoming film MATRIX IV-THE RISE OF NEO.

  Equity and the balance in sloanes investment account

On January 1, 2007, Sloane Co. purchased 25% of Orr Corp.'s common stock; no goodwill resulted from the purchase. Sloane appropriately carries this investment at equity and the balance in Sloane's investment account was $720,000 at December 31, 20..

  Evidence of formation of panethnic identity

The term Hispanic is an umbrella terms for people from many different Spanish-speaking cultures in the Western Hemisphere. Although the grouping includes a wide range of cultures there is evidence of the formation of a panethnic identity. What do ..

  Cost allocation from one of the service departments

The manager of an operating department just received a cost report and he has made the following comment respect to the cost allocated from one of the service departments:

  What is the break-even salvage value

Assume no taxes, and a stable exchange rate of $.60 per NZ$ over the next two years. All cash flows are remitted to the parent. What is the break-even salvage value?

  Revenue and expense data for schumpert medical center

The subsequent two spreadsheets provide workload (expressed as relative weighted products (RWPs) for inpatient care), revenue, and expense data for Schumpert Medical Center covering their fiscal years 2010 and 2011.

  Journal entry to record the issuance of the bonds

Prepare journal entry to record the issuance of the bonds and the related bond issue costs incurred January 1, 2009 Prepare a bond ammortization schedule up to and including January 1, 2013 usinf effective interest method

  Declaration and distribution of the stock dividend

Prepare the appropriate entries for the declaration and distribution of the stock dividend.

  Determining the realized gain

Anne sold her home for 290,000 in 2010. Selling expenses were $17,400. She had purchased it in 2003 for $290,000. During the period of ownership. Anne had done the following:

  Variable overhead spending-fixed overhead budget variances

The actual level of activity for the period was 4,600 MHs. What was the total of the variable overhead spending and fixed overhead budget variances for the month?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd