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finance Lexi Company forecasts unit sales of 1,040,000 in April, 1,220,000 in May, 980,000 in June, and 1,020,000 in July. Beginning inventory on April 1 is 280,000 units, and the company wants to have 30% of next month’s sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June. Verified answer
finance Braun Company produces its product through a single processing department. Direct materials are added at the beginning of the process. Conversion costs are added to the product evenly throughout the process. The company uses monthly reporting periods for its weighted-average process costing. The Work in Process Inventory account had a balance of $21,300 on November 1, which consisted of$6,800 of direct materials and $14,500 of conversion costs. During the month, the company incurred the following costs:$ $$ \begin{matrix} \text{Direct materials}\ldots\ldots\ldots & \text{\$ 116,400}\\ \text{Conversion } \ldots\ldots\ldots & \text{1,067,000}\\ \end{matrix} $$ $ During November, the company started 104,500 units and transferred 100,000 units to finished goods. At the end of the month, the work in process inventory consisted of 12,000 units that were 100% complete with respect to direct materials and 25% complete with respect to conversion. 1. Prepare the company’s process cost summary for November using the weighted-average method. 2. Prepare the journal entry dated November 30 to transfer the cost of the completed units to finished goods inventory. Verified answer Recommended textbook solutions
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Other Quizlet setsWhat are the characteristics of a hunting and gathering society?Hunter-gatherer culture is a type of subsistence lifestyle that relies on hunting and fishing animals and foraging for wild vegetation and other nutrients like honey, for food. Until approximately 12,000 years ago, all humans practiced hunting-gathering.
What are the characteristics of a hunterWhat are some characteristics of a hunter-gatherer society? Obtain food through hunting fishing and gathering for survival,small groups; less than 50 people, and they travel frequently.
Which is a characteristic of simple huntingIn hunter-gatherer societies, mankind existed in a nomadic style of life, moving from place to place while following a source of food. Studies have shown that many of these societies featured a gender divide in labor, as men were responsible for hunting (as well as fishing) and women were responsible for foraging.
What are the three characteristics of food hunting and gathering?The characteristics of hunting and gathering are:
This type of activity requires a small amount of capital investment and operates at a very low level of technology, The yield per person is very low and little or no surplus is produced.
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What are characteristics of hunting and gathering societies Quizlet sociology
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