All categories

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

You might be interested in

A customer sells 1 ABC Jul 90 Put at $5 when the market price of ABC is $89. The market falls to $82 and the customer is exercis

Talja [164]

Answer:

A $300

Explanation:

$90-$82= $8

$8-$5= $3

Therefore:

$3×100 shares =$300

The holder has bought the right to buy the stock at $90 per share because She bought this right for a premium of $5 per share. By exercising the call, the holder buys the stock at $90 and in which he /she sells the stock in the market at $82, for a 8 point loss. Since $5 points was paid in premiums, the net loss is 3 points or $300 on the contract covering 100 shares.

7 0

2 years ago

Efficiency-wage theory suggests that paying a. high wages might be profitable because they lower the efficiency of a firm’s work

Greeley [361]

Answer: Option B

Explanation: In simple words, efficiency theory states that direct monetary benefit is the best motivator for the worker and if the employer pays high wage then the worker will definitely work more efficiently.

It further states that higher wage will be covered by the extra benefit that the worker will provide with his or her performance.

Thus, the correct option is B.

4 0

2 years ago

Social security and medicare are?

mart [117]

Answer:

I believe it is progressive taxes.

Explanation:

Taxes under the Federal Insurance Contributions Act (FICA) are composed of the old-age, survivors, and disability insurance taxes, also known as social security taxes, and the hospital insurance tax, also known as Medicare taxes.

3 0

3 years ago

1.which of the following is a type of business structure?

Usimov [2.4K]

Answer:

1.which of the following is a type of business structure?

a. sole proprietorship

b. partnership

c. corporation

d. all of the above

2.location, utilities, employees and suppliers are all examples of costs.

true or false

3.revenue is the money that flows into your company.

true or false

4. how can you determine if a company is profitable?

a. by subtracting it’s expensive from its revenue

b. by looking at its revenue only

c. by asking the employees

d. by looking at expenses only

5. define ethics

a. The discipline dealing with what is good and bad and with moral duty and obligation

b. always being good

c. following the rules

d. what country you are from

7. consumers have no responsibility related to their right

true or false

4 0

3 years ago

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manu

Kay [80]

Answer:

The cash payments expected for Finch Company in the month of May is $185,600

Thus, the option a is correct.

Explanation:

For computing the cash payment for may month. The following things should be recognized which is explained below:

1. Manufacturing expense : In manufacturing expense, $\frac{3}{4}$ is incurred for particular month and rest $\frac{1}{4}$ is for following moth.

That means, $195200 × 3÷4 = $146,400 and $156,800 × 1 ÷ 4 = 39,200

So, the total would be $146,400 + 39,200 = $185,600

2. As insurance expenses would not be considered because the information is not given.

3. As property tax is paid in November, so it would not be taken for may month.

Therefore, The cash payments expected for Finch Company in the month of May is $185,600

Thus, the option a is correct.

7 0

3 years ago