Which one of the following statements is correct concerning the concept of materiality?

yan [13]

In what context do you ask this question, and in relation to what country?

3 0

3 years ago

Hula’s Heavyweights, Inc., is a company that manufactures forklifts. During the year, Hula’s purchased $1,450,000 of direct mate

ki77a [65]

Answer:

Ending Inventory = $ 270,000

Explanation:

Hula’s Heavyweights, Inc.

Forklifts Manufacturers

Ending Balance In Inventory Account

Hula's beginning Balance = $ 320,000

Add Direct Materials Purchased = $ 1,450,000

Material Available for use= $ 1770,000

Less Direct Material issued for production = $ 1500,000

Ending Balance in Inventory Account = $ 270,000

The ending inventory of Hula's Heavyweight , Inc., is $ 270,000

5 0

3 years ago

A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout th

ruslelena [56]

Answer:

75,000 equivalent units

Explanation:

Calculation to determine What were the equivalent units of production for conversion costs for the month of March

First step is to calculate completed and transferred units

Completed and transferred units =5,000 + 70,000 − 25,000

Completed and transferred units = 50,000

Now let determine the equivalent units for direct materials cost

Using this formula

Equivalent units for direct materials cost =100% of the completed units + 100% of the ending inventory

Let plug in the formula

Equivalent units for direct materials cost= (50,000 × 100%) + (25,000 × 100%)

Equivalent units for direct materials cost=50,000+25,000

Equivalent units for direct materials cost=75,000

Therefore the equivalent units of production for conversion costs for the month of March is 75,000

3 0

3 years ago

Presented below is selected information for three regional divisions of Medina Company. Divisions North West South Contribution

lawyer [7]

Answer:

North West South

Contribution margin $300,300 $499,000 $399,200

Controllable margin $139,700 $360,600 $209,900

Average operating assets $997,857 $1,567,826 $1,499,286

Minimum rate of return 13% 14% 9%

return on investment (ROI) = controllable margin / average operating assets

North's ROI = $139,700 / $997,857 = 14%

West's ROI = $360,600 / $1,567,826 = 23%

South's ROI = $209,900 / $1,499,286 = 14%

residual income = controllable margin - (average operating assets x minimum rate of return)

North's RI = $139,700 - ($997,857 x 13%) = $9,978.59

West's RI = $360,600 - ($1,567,826 x 14%) = $141,104.36

South's RI = $209,900 - ($1,499,286 x 9%) = $74,964.26

(1) If ROI is used to measure performance, which division or divisions will probably make the additional investment?

North and South divisions should probably make the additional investments since their current ROI is less than 16%

(2) If residual income is used to measure performance, which division or divisions will probably make the additional investment?

All the divisions since their minimum required rate of return is less than 16%.

6 0

3 years ago

Pollution caused by candles isn't taken into account.Quality improvements as a source of well-being are ignored.GDP doesn't capt

hammer [34]

Answer:

D. The marginal cost of light is zero, and by convention zero-priced goods and services are excluded from GDP

Explanation:

Only things that have a monetary cost are included in GDP. Things that do not cost "anything" in monetary terms are not included, and this is a major shortcoming of GDP.

From an ecological economics standpoint, things like sunlight, air, and water are often not valued and included in GDP. This is the same case as in the question, because the marginal cost of light is zero, then, it is not included in GDP.

3 0

3 years ago