Answer:
Globalization has resulted in great opportunities for businesses from less developed countries to take a hold over the more and much bigger markets from all over the world. Hence, the business over there has the opportunity for better capital flow, human capital, technology, larger export, and low-cost imports, And since they export their products at lower rates, the developed countries import from them more goods and services to save capital.
However,
1. These products lack quality.
2, And they are more prone to defects as well as wear and tear, as a developed country's technology is far superior to those of developing countries. However, now the developing countries are picking up the speed, and coming up with better technology to match that of developed, because of better education facilities, and proper training.
Explanation:
Please check the answer.
Answer:
d.$18,900
Explanation:
Gross Profit is the net of Sales value and production cost in the period for the units sold. Under absorption costing all the direct and indirect costs incurred in the production of products are included in the total production cost. As the cost is available for 100 units produced we need to calculate the cost of 90 unit and deduct this cost from the sales value to determine the gross profit and then deduct the operating expenses to calculate the operating income.
Sales (90 units) $90,000
Less: Production costs:
Direct materials ( $40,000 x 90/100 ) $36,000
Direct labor ( 20,000 x 90/100 ) $18,000
Variable factory overhead ( 2,000 x 90/100 ) $1,800
Fixed factory overhead ( 7,000 x 90/100 ) <u>$6,300</u>
Total Production cost <u>($62,100)</u>
Gross Profit $27,900
Less Operating expenses:
Variable operating expenses $8,000
Fixed operating expenses $1,000
<u>($9,000)</u>
Operating Income <u>$18,900</u>
Answer:
b. first-in, first-out.
Explanation:
Generally, there are three methods for estimating the inventory shown below:
1. First-in-first, the company is selling the old products in this way than the new ones, which means first selling the old products and then selling the new ones
2. Weighted average method: Weighted cost is measured by considering the total revenue and total purchase
3. Last-in-first-out: Contrary to the first-in-first-out process, the first sale of new goods, then selling of old goods.
4. Base stock: The process by which the orders of the consumer are fulfilled by holding the less inventory
In the FIFO method, the highest ended inventory results in the lower cost of goods sold at the highest net profits.
Answer:
Dr. Cr.
Work in progess 139,000
Salaries and wages payable account 139,000
Explanation:
Direct Labor are charges to work in progress account and a payble is created as a result.
Total Labor cost = $212,000
Indirect cost = $73,000
Direct labor cost = $212,000 - 73,000
Direct labor cost = $139,000
