Answer:
a) Under the FIFO method:-
ROI = 15.49%.
Under LIFO method:-
ROI = 13.2%
Explanation:
ROI = Net Income * 100 / Avverage assets.
a) Under the FIFO method
ROI = 15.49%.
Under LIFO method
ROI = 13.2%
Net income Under LIFO= Net income under FIFO-Increased cost of goods sold
= $219017-$36,220= $182797.
Average assets under LIFO= Average assets under FIFO-Average assets that are less under LIFO
= $1413720 - $31,640= $1382080.
Answer: a). Debit Factory Payroll Payable $160,000; credit Cash $160,000.
Explanation: Direct labor refers to the manpower used in production. They are the factory workers involved in using the raw materials to produce finished goods.
Expense on direct labor is provided for during the production by a debit to factory payroll expense and a credit to factory payroll payable.
As such, the journal entry will be a debit to factory payroll payable $160,000 and a credit to cash $160,000. This means cash will reduce by $160,000 as the factory workers are paid while payables which is a provision account will reduce as well on the cash book by the same amount.
Answer:
The application of skill and knowledge with reasonable care and diligence
Explanation:
Competence is a part of Article IV- Due Care under the AICPA code of professional conduct. Competence is necessary to render the professional service without calling into question. It represents the application and maintenance of perceiving experience that supports a professional member to render a service with extreme knowledge, facility, and professionalism. Therefore, the answer choice B is the correct option.
<span>Alphabetical is an excellent method for organizing an index. By looking at the first letter of an item you can easily find the correct plan in the index. If more than one item has the same first letter, look at the second letter to assign the order.</span>
Contests and sweepstakes are common promotional tools used by companies to attract customers to their company or product.
A contest is slightly different from a sweepstakes in that it requires participants to complete some sort of challenge, such as a trivia question, or demonstrate talent or skill.
<h3>What is the purpose of a sweepstakes?</h3><h3>Sweepstakes Provide Valuable Market Research</h3>
Companies use giveaways to get insight into how their potential customers think, spend their time, or use the company's products.
The company can use the results of their surveys to make future advertisements more effective.
Learn more about contest and sweepstakes here:
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brainly.com/question/28187910</h3><h3 /><h3>#SPJ4</h3>