Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Martinez Corp.s purchases of EZslide snowboards during September. During the same month, 116 EZslide snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $106 $1,590 Purchases Purchases Sept. 12 49 109 5,341 Sept. 19 58 110 6,380 Sept. 26 Purchases 23 111 2,553 Totals 145 $15,864 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Martinez Corp. uses a perpetual inventory system. Date Units Sept. 5 Sale Sept. 16 Sale 54 Sept. 29 Sale 54 Totals 116 (a) Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 $. September 5 $1 September 12 %$4 September 16 $4 September 19 %$4 September 26 $4 September 29 %$4 %24 Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Martinez Corp.s purchases of EZslide snowboards during September. During the same month, 116 EZslide snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $106 $1,590 Purchases Purchases Sept. 12 49 109 5,341 Sept. 19 58 110 6,380 Sept. 26 Purchases 23 111 2,553 Totals 145 $15,864 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Martinez Corp. uses a perpetual inventory system. Date Units Sept. 5 Sale Sept. 16 Sale 54 Sept. 29 Sale 54 Totals 116 (a) Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) September 1 $. September 5 $1 September 12 %$4 September 16 $4 September 19 %$4 September 26 $4 September 29 %$4 %24
Expert Answer:
Answer rating: 100% (QA)
Req 1 Average Cost for each unit September 01 September 05 September 12 Septe... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
assume that abc company uses a perpetual inventory system the company has the same inventors purchase and sales date for the month of march as shown earlierinventorymarch 1200 units400800purchase...
-
Delmott sells a snowboard, Xpert that is popular with snowboard enthusiasts. Below is information relating to Delmotts purchases of Xpert snowboards during September. During the same month, 102 Xpert...
-
Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during September. During the same month, 102...
-
From the following facts, calculate the correct cost of inventory for Sue Company. Cost of inventory on shelf, $4,500, which includes $280 of goods received on consignment. Goods in transit en...
-
Beckett Manufacturing is a contract manufacturer that assembles products for other companies. Beckett has two service departments, Maintenance and Administration, and two operating divisions, Small...
-
The camp provides all food as well as materials for all craft classes and the toys to be assembled. One cabin can accommodate up to 10 children, and one camp counselor is assigned to each cabin....
-
Determine the bending strain energy in the beam. \(E I\) is constant. T 22
-
Rouse Chemical has spent $ 241,000 to refine 71,000 gallons of acetone, which can be sold for $ 1.90 a gallon. Alternatively, Rouse Chemical can process the acetone further. This processing will...
-
Win Win Top ("WWT") experienced a slight drop in the cash balance. You, as the accountant of WWT, are requested to analyze the impacts of cash flows for the year ended 30 June 2021 with the following...
-
Government actions such as price floors and price ceilings can actually increase unemployment and reduce market efficiency. True or False
-
2. Rectangular membrane in an elastic medium. The vibration of a rectangular member with side a in the x-y plane (0
-
In reporting proved oil and gas reserves, how are geographic areas determined?
-
List and briefly discuss the three basic types of drilling contracts.
-
Discuss the disclosures required for exploratory well costs that continue to be capitalized for a period longer than one year beyond completion of drilling.
-
Define the following terms: dry hole wells and equipmentlease and well equipment wells and equipmentIDC day-rate contract footage-rate contract turnkey contract AFE Christmas tree sidetracking
-
According to ASU 932-235-50, what is a publicly traded company?
-
You are a tax preparer and have been asked to complete the previous year's tax return for new client Gabriel and Sophie Dubois. Because the Dubois children, Jean and Juliette, are now in college or...
-
The following items were displayed in the statement of affairs for Lubbock Company: Fully secured liabilities ......... $90,000 Partially secured liabilities ....... 12,000 Unsecured liabilities...
-
The Bonita Vista Golf & Country Club details the following accounts in its financial statements. Accounts payable ..................................... _____ Accounts receivable...
-
The financial statements of Columbia Sportswear Company are presented in Appendix B. Financial statements of VF Corporation are presented in Appendix C. Instructions Answer the following questions...
-
Your friend just received a car loan. It is a 7-year installment note. He does not understand the mechanics of how the loan works. Explain the important aspects of the installment note.
-
As the marketing manager for Independent Packaging Pty Ltd, you have asked the accountant what it costs to make the Container2000 model because you want to set a price for the container. A similar...
-
Incomplete information concerning the financial performance of two manufacturing companies is presented below. Required Determine the answers to (a) to(f) for the two companies. Work in process,...
-
Smart Manufacturing Systems Pty Ltd uses a periodic inventory system and closes its accounts on 30 June each year. The companys closing entries made on 30 June 2025 were as shown below. Required (a)...
Study smarter with the SolutionInn App