A company uses the periodic average cost method to account for inventory. For the year, the company had the following beginning inventory and purchases:
Beginning inventory on January 1

100 units

at

$

2,800

per unit

Purchase on March 1

400 units

at

$

3,000

per unit

Purchase on September 1

800 units

at

$

3,200

per unit

Sales for the year totaled 1,000 units, leaving 300 units on hand at the end of the year. The company reported ending inventory for $900,000. Which of the following is correct?

The amount reported for ending inventory is incorrect because management used a simple average instead of weighted-average to calculate the unit cost of inventory for the year.
The amount reported for ending inventory cannot be determined with the information given because the amount depends on which of the 1,000 units were assumed to be sold.
The amount reported for ending inventory is incorrect because the unit cost of ending inventory should be the average cost of the last 300 units purchased.
The amount reported for ending inventory is correct.

Unrecorded depreciation on the trucks at the end of the year is $40,000. the total amount of accrued interest expense at year-end is $6,000. the cost of unused office supplies still available at year-end is $2,000. 1. use the above information about the company’s adjustments to complete a 10-column work sheet. 2a. prepare the year-end closing entries for dylan delivery company as of december 31, 2017. 2b. determine the capital amount to be reported on the december 31, 2017 balance sheet.

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $

The market demand curve for a popular teen magazine is given by q = 80 - 10p where p is the magazine price in dollars per issue and q is the weekly magazine circulation in units of 10,000. if the circulation is 400,000 per week at the current price, what is the consumer surplus for a teen reader with maximum willingness to pay of $3 per issue?