Answer:
Date Account Title and Explanation Debit Credit
XXXX Cost of goods sold $5,800
To manufacturing overhead $5,800
(Entry for unapplied overhead transfer to cost of goods sold)
Answer and Explanation:
As per the data given in the question,
a)
1. FIFO inventory > LIFO inventory
(Because in case of LIFO recent purchases are considered in production first or sold first so the remaining inventory are old inventory which is less costlier.)
2. FIFO cost of goods sold < LIFO cost of goods sold
(Because in case of LIFO recent purchases are considered in production first which are expensive so the cost of production is greater than FIFO.)
3. FIFO net income > LIFO net income
(Because cost of production is less under FIFO and the value of closing inventory is high, therefore the net income is also high.)
4. FIFO income taxes > LIFO income taxes
(Since, income is high in FIFO, therefore the tax under FIFO will be higher.)
b)
Management would like prefer to use LIFO over FIFO in periods of rising prices because Income shown in the company's Tax return will be higher if we use FIFO rather than using LIFO.
Answer:
c. 21.00
Explanation:
The formula to compute the price earning ratio is shown below:
Price-earnings ratio = (Market price per share) ÷ (Earning per share)
where,
Market price per share is $105
And, the earning per share would be
= Net income ÷ weighted-average common shares outstanding
= $865,000 ÷ 173,000 shares
= $5
Now put these values to the above formula
So, the per share would equal to
= $105 ÷ $5
= 21
Answer:
Educating the general public, Promote family planning, government incentives
Explanation:
Some ways that could stop overpopulation is by having more incentives for people who don't have as many kids and by promoting family planning. People will be more educated and know the consequences of having to many children. The more educated they are the less likely they are to have mulitple children because they will know that having children is expensive.
