Employee Retirement Income Security Act is established in 1974 mainly to protect the employee pension system from employer fraud.
<h3>What is Employee Retirement Income Security Act?</h3>
The Employee Retirement Income Security Act serves as an act of 1974 that contains rules on the federal income tax to favor employees.
This act, provides employee with benefit plans and a protection against wicked employers.
Learn more about Employee Retirement Income Security Act at;
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Answer
Economic order quantity will be 447.21
Explanation:
We have given monthly demand = 10000 units
We know that 1 year = 12 month
So Annual demand (D) = monthly demand × 12 months = 10000 × 12 = 120000 units
Cost of transistor = $5 per unit
Monthly Holding cost = 10% of cost = 10% of $5 = $0.50
So annual holding cost (H) = monthly holding cost × 12 = $0.50 × 12 = $6
Setup cost(S) = $5
We know that economic order quantity is given by
Economic order quantity = 
Explanation:
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Answer:
- Adjusted Cost of Goods sold = $1,206,860
- Adjusted Retained Earnings = $4,675,190
Explanation:
An overstated opening inventory would overstate Cost of Goods sold. The overstatement should therefore be removed from the Cost of goods sold.
An overstated closing inventory would understate Cost of Goods sold. The overstatement should therefore be added to the Cost of Goods sold.
Adjusted Cost of Goods sold 2020 = Cost of Goods sold + 2020 ending inventory - 2019 opening inventory
= 1,290,700 + 32,910 - 116,750
= $1,206,860
Adjusted Retained earnings
The retained earnings would have to be adjusted for the overstatement of the current inventory by $32,910 because this understated Cost of Goods sold.
= Retained earnings - Overstatement of inventory
= 4,708,100 - 32,910
= $4,675,190
Answer:
B. Information from research already conducted for another purpose
Explanation:
