Answer:
The amount that Cullumber should report as its December 31 inventory is $543000.
Explanation:
FOB shipping point means the purchaser gains title to the merchandise at the shipping point, so when Pelzer shipped the goods, they belonged to Stallman.
**FOB destination means the seller maintains title until the merchandise reaches its destination, so since the goods have not reached their destination, the goods still belonged to Stallman
inventory on december 31 = inventory on december 31 + goods in transit purchased FOB shipping point + goods in transit sold FOB destintion
= $514,000 + $7,000 + $22,000
= $543000
Therefore, The amount that Cullumber should report as its December 31 inventory is $543000.
I can barely see is that supposed to say gross
Answer:
Explanation:
Process costing can be regarded as a methodology in accounting that involves attributing cost to unit of production in different firms especially firm that are producing product that are homogeneous.
Job order costing can be regarded as
a system that occur when an order of purchase is made by consumer, it helps in way that the price of individual product is affordable by consumer.
a.Companies that produce small quantities of many different products.
(Job order costing)
b.A company that pulverizes wood into pulp to manufacture carboard.
(Process costing)
c.A company that manufactures thousands of identical files.
(Process costing)
d.Companies that produce large numbers of identical products.
(Process costing)
e.A computer repair service that makes service calls to homes.
(Job order costing)
f.A company that assembles electronic parts and software to manufacture
(Process costing)
millions of portable media players.
g.A textbook publisher that produces copies of a particular book in batches.
(Job order costing)
h.A company that bottles milk into one-gallon containers.
(Process costing)
i.A company that makes large quantities of one type of tankless hot water heaters.
(Process costing)
j.A governmental agency that takes bids for specific items it utilizes where each
(Job order costing)
.
Answer:
The correct answer is D
Explanation:
Third Degree Price Discrimination is the kind of the discrimination, which occurs when the company charges a different price to the different groups of consumers.
For example, the movie cinema or theater might divide or categorize the moviegoers into children, seniors and adults, while each of them will pay a different price when watching the same movie.
So, in this case, that the residential customers are charged higher prices to industrial customers, which is an example of third degree price discrimination.
