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Reika [66]
3 years ago
6

n computing the current period's manufacturing cost per equivalent unit, the FIFO method of process costing considers: (CPA adap

ted) A. only current period costs.B. current period costs plus cost of beginning work-in-process inventoryC. current period costs less cost of beginning work-in-process inventoryD. current period costs plus the cost of ending work-in-process inventory
Business
1 answer:
kykrilka [37]3 years ago
3 0

Answer:

C. current period costs less cost of beginning work-in-process inventory

Explanation:

While calculating the current period manufacturing under FIFO method the cost of beginning work in process will be deducted as was incurred in previous period, for the current period only the current period cost will be considered.

Though the FIFO method is based on first in first out principle where opening inventory will be sold first, but the cost incurred earlier in previous period will not be considered.

Correct statement is C

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For a recent year L’Oreal reported operating profit of €3,385 (in millions) for its Cosmetics division. Total assets were €12,88
aivan3 [116]

Answer:

The correct answer is 26.05%.

Explanation:

According to the scenario, the given data are as follows:

Beginning Assets = 12,888 ( million)

Ending Assets = 13,099 (million)

Operating profit = 3,385 (million)

So, Average Assets for the year = (12,888 + 13,099) ÷ 2 = 12,993.5 (million)

So, we can calculate the return on investment by using following formula:

Return on investment = Operating profit ÷ Average assets for the year

By putting the value, we get

Return on investment = 3,385 ÷ 12,993.5 (million)

= 0.2605 or 26.05%

8 0
3 years ago
Which fiduciary act requires that an agent act in good faith and obey the principal's directions as outlined in the contract?
omeli [17]

Answer

Obedience

Explanation:

Obedience is a behavior that is aware and aware of principles and laws. Guardians, instructors, and cops all acknowledge acquiescence. Individuals show obedience when they adhere to the law,

In the given question it is given that agent act in good faith and obey the principles direction this is a obedience fiduciary act because in this can everyone have to be obey to the principles.  

7 0
3 years ago
What do consumers and business in the market economy seek to do ?
Ivanshal [37]

Consumers and business in the market economy seek to earn money so they can buy products so that they don't go out of business.

6 0
3 years ago
Read 2 more answers
Open-end mutual funds are the most common type of investment company. Which of the following statements characterize these funds
victus00 [196]

Answer:

The  statements that characterizes these funds is:

a. Fairly liquid investments.

b. Issue new shares in response to increased demand.

c. Increase diversification but do not reduce nonsystematic risk.

Explanation:

a) Fairly Liquid Invetsment: TRUE, as on the basis of demand the fund issuer can repurchase or reissue extra securities at any time so as to ensure proper liquidity to the investment.

b) Issue New Share for Increase Demand: TRUE, issuer can increase and decrease the no. of securities for trading as the demand for the same increases.

c) Increase diversification but not reduce unsystematic risk: TRUE. As Mutual Funds generally increase diversification of funds by investing in various sectors to minimize the systematic risk of the market but it cannot control the unsystematic risk of the market.

d) Require Minimum Purchase of 3000: FALSE. As the Minimum investment for the mutual funds starts from 250 or 1000 and not 3000.

e) Charges High Fees for Professional Managment: FALSE, As most of the open-ended mutual fund just charges 0.85% or low of the Investment Amount as total Expenditure for providing services, which is not so high as compared to returns provided by them.

Therefore, The  statements that characterizes these funds is:

a. Fairly liquid investments.

b. Issue new shares in response to increased demand.

c. Increase diversification but do not reduce nonsystematic risk.

3 0
3 years ago
The balance in Happ Inc.’s general ledger Cash account was $71,580 at September 30, before reconciliation. The September 30 bala
Dafna1 [17]

Answer:

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The preparation of the  bank reconciliation statement on September 30  is presented in the spreadsheet. Kindly find the attachment below:

7 0
3 years ago
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