Answer:
C : the lower-of-cost-or-net realizable value (LCNRV) basis.
Explanation:
<em>High-technology and fashion are types of industries likely to frequently use </em>''the lower-of-cost-or-net realizable value (LCNRV) basis''. These types of industries having an inventory that has an uncertain future.<em> Obsolescence, defects, oversupply, higher price declines, and similar obstacles can contribute to uncertainty about the realization of inventory</em> items and hence accountants of these industries evaluate inventory and employ lower of cost or net realizable value considerations.
Answer:
Which of the following statements is false?
a. Actual overhead costs always enter the Work-in-Process account.
Explanation:
a. Actual overhead costs always enter the Work-in-Process account.
A normal job-order costing system is a system that uses: Actual costs for direct materials and direct labor and estimated costs for overhead. Actual overhead costs are not assigned directly to jobs
b. The use of normal costing means that overhead is applied to each job using a predetermined rate.
The cost of a job includes direct materials, direct labor, and applied overhead. The use of normal costing means that overhead is applied to each job using a predetermined rate.
c. Indirect labor is assigned as a part of overhead.
Since direct materials and direct labor are usually considered to be the only costs that directly apply to a unit of production, manufacturing overhead is (by default) all of the indirect costs of a factory. Manufacturing overhead does not include any of the selling or administrative functions of a business
Answer: The set of assets and liabilities linked to brand that add to or subtract from the value provided by the product or service is referred to as Brand Equity.
<u>Explanation:</u>
Brand Equity is the buzz word in the modern business and commercial world. It is the perceived and apparent value of brand name which can be the total worth of the organization. It is that value of the organisation that pulls consumers and customer as well as client base towards it.
Brand Equity in other words means the sum total worth or value added to an existing product under the same brand name. It can be done in multifarious ways such as putting up distinct logo for the product, easily recognizable and understandable names, adding more distinct titles and enhancing the durability of the product - all these contributes in a big way to add valuable and precious value to the existing brand.
Once measures such as above are taken to add distinct value to the brand the turnover and sales of the product subsequently increases since people get to know and recognize the product. Therefore, in order to develop sold brand one has to focus on brand equity by other measures such as creating awareness and developing loyalty for the product by the consumers.
Answer:
The correct answer is (c)
Explanation:
In this situation, Francis will select the second candidate based on his cognitive abilities. There are various aspects which employers would like to see in a candidate, for example, education, experience, professionalism and many other qualities including cognitive abilities. Cognitive ability shows candidates seriousness towards a job their abilities, how focus they are and their mental strength.
Answer:
A. Debit to salaries and wages expense for 64,000
Credit to FICA taxes payable for 4,896
Credit to Federal Income Tax Payable for 7,500
Credit to State Income Tax Payable for 3,100
Credit to Union Dues Payable for 400
Credit to Salaries and Wages Payable for 48,104
B. Debit to payroll tax expense for 5,596
Credit to FICA tax payable for 4,896
Credit to State Unemployment for 700
