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3 years ago

Determine the cost of goods sold expense assuming kramer had used the lifo method instead of the fifo method.

1 answer:

4 0

To determine the cost of goods sold (COGS) expense under the LIFO method, you start with the assumption that you have sold the most recent produced first, and work backwards. Generally, the formula for COGS expense is: Costs at the beginning of the year + Additional inventory cost during the year - Inventory at the end of the year

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A competitive firm produces output using three fixed factors and one variable factor. The firm's short run production function i

Nesterboy [21]

Answer:

D) 75

Explanation:

Our initial production function is:

q = 305X - 2X²

we calculate the derivative of q:

(q') = 305 - 4X

MP = 305 - 4X

$10 / $2 = 305 - 4X

5 = 305 - 4X

4X = 305 - 5 = 300

x = 300 / 4

x = 75

6 0

3 years ago

Explain the link between scarcity and opportunity cost.

Helga [31]

Answer:

Resources are limited in supply(scarcity) while wants are unlimited thus one has to make a choice to satisfy a need.Some choices are forgone(opportunity cost)

5 0

3 years ago

Which of the following two methods are typically used for initial screening of investments, rather than for detailed, in-depth

OLga [1]

Answer:

A. payback and accounting rate of return

Explanation:

The initial screen is a practice method of excluding the investments form the portfolio basis on the social environment and governance and the screening is mot applicable to the investments.

Such as the mutual funds and the privately co-mingled funds. A positive screening means to exclude the companies that are environmental friendly have a socially responsible business practice.

4 0

3 years ago

True or false. The financial crisis hastened the ongoing process in which the financial services industry was transforming from

drek231 [11]

True.The financial crisis hastened the ongoing process in which the financial services industry was transforming from having a few large firms to many small firms.

Explanation:

The financial crisis broke the back of many big firms especially working the stock market and exchange. Financing services were being handled by big behemoths during the time that harbored a lot of space in the industry and did not allow smaller firms to take over the tasks and succeed in their stead.

The crisis made it impossible for their business models to sustain and no one could afford a hefty sum for financial services so smaller companies with less operational costs took their place.

5 0

3 years ago

On January 2, 2014, Best Beverages acquired 45 percent of the stock of Better Bottlers for $30 million in cash. Best Beverages a

Alex787 [66]

Answer:

Calculation of 2014 equity in net income

Better Bottler's net income $1,125,000

($2,500,000* 45%)

Less: Amortization of patents and $450,000

trademarks revaluation

(160-150* 1000,000/10 at 45%)

Less: Amortization of brand names $270,000

($9000,000 /15 at 45%)

Equity in net income of Better bottles $405,000

Journal entries

Description Debit Credit

Investment in better bottles $405,000

Equity in net income of better bottle $405,000

Cash $292,500

($650,000 * 45%)

investment in better bottles $292,500

b) Calculation of investment balance

Investment balance, Jan 2,2014 $30,000,000

+ Reported income less dividends $5,400,000

($25,000,000 equity - $13,000,000 retained

earnings) * 45%

- 4 yr of revaluation write off

($450,000 * 4) $1,800,000

($270,000 *4) $1,080,000

Investment balance, Dec 31, 2017 $32,520,000

4 0

3 years ago