BUSINESS COLLEGE

Unland Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Units Per unit price Total
Balance, 1/1/2017 290 $5.00 $1450
Purchase, 1/15/2017 140 ..5.10 714
Purchase, 1/28/2017 140 ..5.30 742

An end of the month (1/31/2017) inventory showed that 230 units were on hand. If the company uses LIFO, what is the value of the ending inventory?

Answers

Answer 1
Answer:

Answer:

Ending inventory= $1706

Explanation:

Giving the following information:

Units Per unit price Total

1/1/2017: 290 *$5.00=  $1450

1/15/2017: Purchase,  140*$5.10= $714

1/28/2017: Purchase,  140*$5.30= $742

At the end of the month (1/31/2017) inventory showed that 230 units. If the company uses LIFO (last-in, first-out)

Ending inventory= 140*5.30+140*5.10+50*5= $1706

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Quantitative Problem 2: Carlysle Corporation has perpetual preferred stock outstanding that pays a constant annual dividend of $1.90 at the end of each year. If investors require an 7% return on the preferred stock, what is the price of the firm's perpetual preferred stock? Do not round intermediate calculations. Round your answer to the nearest cent. $ per share

Answers

Answer:

$27.14

Explanation:

Calculation for the price of the firm's perpetual preferred stock

Using this formula

Price of the firm perpetual preferred stock = Annual dividend / Required return

Where,

Annual dividend =$1.90

Required return=7% or 0.07

Let plug in the formula

Price of the firm perpetual preferred stock = $1.90 / 0.07

Price of the firm perpetual preferred stock=$27.14

Therefore the Price of the firm perpetual preferred stock will be $27.14

Please Help me, with this question for one of my class discussions. Think of a product and describe the stages of production the product goes through.

Answers

Answer:

Well, it depends on the product. But, I'd say, first, an idea for the product. Creating/designing and refining the product is next. Then, when finally satisfied, begin mass production

Explanation:

The Converting Department of Hopkinsville Company had 1,160 units in work in process at the beginning of the period, which were 30% complete. During the period, 24,400 units were completed and transferred to the Packing Department. There were 1,280 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0".

Answers

Answer and Explanation:

The computation of the number of equivalent units for direct material and conversion cost is shown below:

For materials

= units started and completed  × completion percentage + ending work in process inventory × completion percentage

=  (24,400 - 1,160) × 100% + 1,280 units × 100%

=  23,240 units + 1,280 units

= 24,520 units

For conversion

= Opening work in process inventory × remaining percentage + units started and completed  × completion percentage + ending work in process inventory × completion percentage

= 1,160 units × 70% + (24,400 - 1,160) × 100% + 1,280 units × 60%

= 812 units + 23,240 units + 768 units

= 24,820 units

Pr 6-3a weighted average cost method with perpetual inventory

Answers

Answer:

3.0

Explanation:

You win a lottery with a prize of $1.5 million. Unfortunately the prize is paid in 10 equal annual installments. The first payment is next year. How much is the prize really worth

Answers

The prize is really worth $1,006,512.21.

What is present value?

Present value is the sum of cash flows discounted at the rate of interest or the discount rate.  The annual cash flows for the next 10 years = $1.5 million / 10 = 150,000

The present value can be determined using a financial calculator

Cash flow from year 1 to 10 = $150,000

Discount rate = 8%

Present value = $1,006,512.21

Here is the complete question: You win a lottery with a prize of $1.5 million. Unfortunately the prize is paid in 10 an¬nual installments. The first payment is next year. How much is the prize really worth? The discount rate is 8 percent.

To learn more about present value, please check: brainly.com/question/25748668

An analyst gathers the following information about Meyer, Inc.: Meyer has 1,000 shares of 8% cumulative preferred stock outstanding, with a par value of $100 and liquidation value of $110. Meyer has 20,000 shares of common stock outstanding, with a par value of $20. Meyer had retained earnings at the beginning of the year of $5,000,000. Net income for the year was $70,000. This year, for the first time in its history, Meyer paid no dividends on preferred or common stock.What is the book value per share of Mayer's common stock?

Answers

Answer:

common stock book value: 273.5 dollars

Explanation:

(equity - preferred stock) / outstanding shares

In this case:

(common stock + RE)  divide over shares outstanding

20,000 shares x $ 20 = 400,000

Retained Earnings:

5,000,000 + 70,000 = 5,070,000

Total Common Equity: 5,470,000

Common stock: 20,000

5,470,000 / 20,000 = 273.5

Final answer:

The book value per share of Meyer's common stock is $253.5. This is calculated by dividing the total equity ($5,070,000) by the number of common shares outstanding (20,000).

Explanation:

The book value per share is the value of a company's equity divided by the total number of common shares outstanding. It is a financial ratio that investors use to assess whether a company's stock is overpriced or underpriced.

In this case, the total equity of Meyer, Inc. is calculated by adding its retained earnings to its net income for the year. This totals to $5,070,000. Since there are 20,000 shares of common stock, the book value per share of Meyer's common stock would be $5,070,000 divided by 20,000, which equals to $253.5.

This represents the intrinsic value of a company, which could be significantly different from its market price depending on numerous factors such as the company's earnings potential and risk profile.

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