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castortr0y [4]
3 years ago
5

In time of rising prices, ending inventory determined using the LIFO inventory assumption will be ________ than ending inventory

determined using the FIFO inventory assumption.
Business
1 answer:
Yuliya22 [10]3 years ago
6 0

Answer:

LOWER

Explanation:

In time of rising prices, the inventory valuation made according to <em>LIFO</em> ( LAST IN FIRST OUT )  will be <u>LOWER</u> than the one valued according to <em>FIFO</em> ( FIRST IN FIRST OUT ) method.

The reason is that in <em>LIFO</em>, the newer stock is sold first, therefore, the remaining inventory is valued according to older purchases, that in inflationary context have lower prices.

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Direct labor and indirect labor are recorded, respectively, to:
torisob [31]

Answer:

d. Work in Process Inventory and Factory Overhead.

Explanation:

Direct labor is labor that is directly involved in the production process, for example a machine operator in a factory is supplying direct labor. So when recording direct labor we do so under work in process inventory as that is where the labour is applied.

Indirect labour is one that is not directly involved in the production process, for example office cleaners, building maintenance. Since their contribution is not directly impacting production, indirect labor is recorded under factory overhead.

8 0
3 years ago
Read 2 more answers
A dairy farm operated a small processing plant that supplied premium ice cream to nearby specialty shops and ice cream parlors.
omeli [17]

Answer:

yeet

Explanation:

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3 years ago
Sarahh Roberts is the assistant chief accountant at the HK Company, a manufacturer of computer chips and cell phones. The compan
vodomira [7]

Answer:

Explanation:

1.The ethical issues are bad faith and false statement. Sarahh's dishonesty may get her into problems for involving in deceptive activity, though it might be a mistake of some one else. The coalition of numbers will result into the mistake remaining and the equipment account misstated.

2. The share holders, the management, the employees etc. are the stakeholders

3. The following are Sarahh’s alternatives:

a) Sarahh could  discuss the issue with the chief accountant, so that he can give a  worthy insight might be given to locate the error

b) She could get the management informed about the divergence and make a request for few more days to identify and correct the error, so that a dependable and accurate financial statement can be issued.

c) Another alternative is for her to get the report issued  only to the management for their consideration while  the error is unaltered, and inform them that only few days will be  required for the error to be identified  and amended .

4. I would rather choose the third alternative (C). Reason being that once the management considers and approves the financial statements it is very sure that the error would be identified and also once they get aware of the divergence, they can take a  financial decision with respect to the account mismatch.

7 0
3 years ago
On April 1, 2021, Austere Corporation issued $320,000 of 15% bonds at 106. Each $1,000 bond was sold with 40 detachable stock wa
drek231 [11]

Answer:

$300,800

Explanation:

First Calculate  the proceeds from the issuance of the bond

Proceeds from bonds = Face value x Price rate = $320,000 x 106% = $339,200

Now calculate the fair value of the warrant issued

Fair value of warrant = Numbers of shares x Stock per bond x Market value of each Warrant = ( $320,000 / $1,000 ) x 40 x $3 = 320 x 40 x $3 = $38,400

Liability Portion = Procedds from bonds - Fair value of waarants = $339,200 - $38,400 = $300,800

6 0
2 years ago
Which part is an AC voltage component in generac?
Dahasolnce [82]

The part of an AC generator in which the voltage is produced is known as an armature.

<h3>What is voltage?</h3>

Voltage refers to what makes electric charges move. It is the push that causes charges to move in a wire or other electrical conductor.

The part of an AC generator in which the voltage is produced is known as an armature. This component consists of coils of wire that are large enough to carry the full load current of the generator.

Learn more about Voltage here:

brainly.com/question/2364325

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2 years ago
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