Answer:
The amount of sales will be reported in the 20X1 consolidated income statement is $58,000
Explanation:
The computation of the amount of sales is shown below:
= Value of the entire inventory sold - purchased inventory + sale inventory
= $58,000 - $45,000 + $45,000
= $58,000
The purchased inventory + sale inventory would reflect the intra sales of the company which told that the sales are made within the company.
Answer:
The amount of overhead Lowden Company should record in the current period is $124,740
Explanation:
Overhead application = 162%
Material cots = $77,000
Labor cost = $63,000
As allocated overhead based on direct material cost
Current period Overhead = $77,000 x 162%
Current period Overhead = $77,000 x 1.62
Current period Overhead = $124,740
So, the amount of overhead Lowden Company should record in the current period is $124,740
Answer:
D. It suggests that it is important to view internal control as an end product as contrasted to a process or means to obtain an end.
Explanation:
Internal control is a process which is effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives.
Answer: $240000
Explanation:
Based on the information given in the question, Koosman's cash flows for financing activities in 2017 will be calculated as:
Sale of common stock = $250000
Less: Cash dividend paid = $10000
Cash flow from financing activities = $240000
B) Sales Budget is the answer.
