Answer:
Instructios are below.
Explanation:
Giving the following information:
Purchases:
190 units at $5
300 units at $7
395 units at $9
Assuming there are 250 units on hand
1) FIFO (first-in, first out). Under the FIFO method, the ending inventory cost is calculated using the cost of the last units incorporated.
Ending inventory= 250*9= $2,250
2) LIFO (last-in, first-out). Under LIFO method, the ending inventory cost is calculated using the cost of the firsts units incorporated.
Ending inventory= 190*5 + 60*7= $1,370
Answer:
(A) $425,000
(B) $24,350
Explanation:
(a) Average Operating Assets:
= (Beginning Operating Assets + Ending Operating Assets) ÷ 2
= ($390,000 + $460,000) ÷ 2
= $425,000
Therefore, the average operating assets is $425,000.
(b) Residual Income:
= Operating Income - (Minimum Rate of Return × Average Operating Assets)
= $66,850 - (10% × $425,000)
= $66,850 - $42,500
= $24,350
Answer:
Which of the following is NOT a step in the strategic planning process?
E) evaluating all members of the value chain
Explanation:
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy
Answer: E. All of the above are characteristics of managerial accounting.
Explanation:
Managerial accounting is geared towards analysing accounting data to help management of an organization make decisions. As such it is internal and is seen by company employees.
To help the management, specific management reports are produced from which decisions affecting the company can be made. It is relatively flexible to enable it to suit the demands of the company and as it is for internal use, is not independently audited.
