Answer:
serviceability
Explanation:
Maple products markets electronic goods in several countries across the world.
The company makes sure that the spare parts of the electronic goods can be bought easily from the market and the technical personnel in their retail outlets are also trained efficiently to repair their the electronic goods or the products.
The efforts taken by the company will enhance the <u>serviceability</u> dimension of its product quality
IN FIFO periodic method, all the opening inventory and purchases for a period are taken and then the Cost of goods sold is calculated by taking the oldest purchased units first, therefore, the closing inventory comprises the latest purchased units. In the LIFO periodic method, all the opening inventory and purchases for a period are taken and then the Cost of goods sold is calculated by taking the latest purchased units first, therefore, the closing inventory comprises the oldest purchased units.
FIFO stands for "first in, first out" and assumes that the first item put into inventory is also the first item sold. Also known as "last in, first out," LIFO assumes that the last item added to inventory is sold first.
To calculate FIFO (first in, first out), determine the cost of the oldest inventory and multiply that cost by the amount of inventory sold while calculating the cost of inventory using LIFO (last in, first out). increase. The oldest inventory determines the current inventory and is multiplied by the amount of inventory sold.
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Answer:
$550 favorable
Explanation:
Douglas industries was involved in the manufacturing of 5,500 units of a product which required 2.5 standard hours per unit.
The standard fixed overhead cost per unit is $2.20 for each hour at 13,500 hours
Therefore, the fixed factory overhead volume variance can be calculated as follows
= (13,500-(5,500×2.5hours)×$2.20
= (13,500-13,750)×$2.20
= -250 × $2.20
= -$550
= $550 favorable
Hence the fixed factory overhead volume variance is $550 favorable
Answer:
Date Account Title Debit Credit
1-Jul Supplies $345
Accounts Payable $345
2-Jul Utilities expense $700
Cash $700
3-Jul Salaries expense $875
Cash $875
8-Jul Cash $4,015
Accounts Receivable $4,015
12-Jul Accounts Receivable $11,000
Revenue earned $11,000
Answer:
Explanation:
The journal entry is shown below:
Land A/c Dr $470,500
Land Improvement A/c Dr $87,800
Building A/c Dr $1,452,200
To Cash A/c $2,010,500
(Being these costs are recorded)
The computation of the land is shown below:
= Purchase cost of new plant + tear down cost + fill and level the lot cost
= $390,000 + $33,500 + $47,000
= $470,500