Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $2600 and received 7600 pieces of candy that are allocated among three groups. Group 1 consists of 2260 pieces that are expected to sell for $0.15 each. Group 2 consists of 5020 pieces that are expected to sell for $0.30 each. Group 3 consists of 320 pieces that are expected to sell for $0.66 each. Using the relative sales value method, what is the cost per item in Group 2? O $0.38. O $0.19. O $0.83. O $0.34.
Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $2600 and received 7600 pieces of candy that are allocated among three groups. Group 1 consists of 2260 pieces that are expected to sell for $0.15 each. Group 2 consists of 5020 pieces that are expected to sell for $0.30 each. Group 3 consists of 320 pieces that are expected to sell for $0.66 each. Using the relative sales value method, what is the cost per item in Group 2? O $0.38. O $0.19. O $0.83. O $0.34.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $2600
and received 7600 pieces of candy that are allocated among three groups. Group 1 consists of 2260 pieces that are expected to sell for
$0.15 each. Group 2 consists of 5020 pieces that are expected to sell for $0.30 each. Group 3 consists of 320 pieces that are expected
to sell for $0.66 each. Using the relative sales value method, what is the cost per item in Group 2?
O $0.38.
O $0.19.
O $0.83.
O $0.34.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0e749bb1-550a-4527-a288-88568f077822%2F47a5a72e-e510-4675-a413-4045bf8bf9d3%2F2j6wq5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $2600
and received 7600 pieces of candy that are allocated among three groups. Group 1 consists of 2260 pieces that are expected to sell for
$0.15 each. Group 2 consists of 5020 pieces that are expected to sell for $0.30 each. Group 3 consists of 320 pieces that are expected
to sell for $0.66 each. Using the relative sales value method, what is the cost per item in Group 2?
O $0.38.
O $0.19.
O $0.83.
O $0.34.
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