Answer:
$70,056
Explanation:
Per the above information, we need to calculate first, the Earnings before interest and tax (EBIT).
Sales
$361,820
Less: costs
($267,940)
Less: Depreciation expense
($16,500)
Earnings before interest and tax (EBIT)
$77,380
The next step is to calculate the applicable tax rate.
Tax [$77,380 - $9,310] × 0.35
$23,824.50
We will then calculate the Operating cash flow.
Earnings before interest and tax (EBIT)
$77,380
Add back depreciation expense
$16,500
Less tax
($23,824.50)
Operating cash flow (OCF)
$70,056
Therefore, the amount of operating cash flow is $70,056.
Answer:
A. Measures the ending inventory at the actual prices of the specific units sold during the period
Explanation:
The Specific identification inventory costing method is a strategy of getting the actual ending inventory cost. To get this cost requires the deliberate manual calculation of each of the remaining commodities brought on certain dates, at year-end inventory. The number gotten is then multiplied by their actual cost of purchase date. The result is then taken as the ending inventory cost.
Consequently, the purpose is to allocates the specific cost of each inventory item to cost of goods sold.
Hence, in this case, the correct answer is option A. Measures the ending inventory at the actual prices of the specific units sold during the period.
Answer:
<em>A(n) </em><em><u>contract</u></em><em> is a document that specifies the conditions under which an exchange is to occur, detailing the rights and obligations of the involved parties.</em>
Economic profits. An entrepreneur is more interested in economic profits
Answer: (A) Change in an accounting principle
Explanation:
According to the given question, the finer food Inc., is one of the company which using the average cost technique for measuring the inventory process.
So, the change made in the company is reported in the form of financial statement as change in an accounting principle of flow of the physical products.
The accounting change is the term which is used for reporting an entity and the estimating and evaluation the various types of asserts and liabilities in an organization.
Therefore, Option (A) is correct answer.
