Lcm requires to value inventory at the lower of acquisition cost or net realizable value.
Net realizable value = $27 - $1 = $26
Cost = $30
Therefore, it would be valued at $26
Answer:
Payroll factor State U:
- commissions $50,000
- fringe benefit package $15,000
Explanation:
State Sales Generated Fiona’s Time Spent There
U $3,000,000 20%
V $4,000,000 50%
X $8,000,000 30%
Sales percentage generated in state U = $3,000,000 / $15,000,000 = 20%
so 20% of the $250,000 commissions should be assigned to state U = $50,000
Time spent in state U = 20% x $75,000 fringe benefits = $15,000 assigned to state U
If the federal gasoline tax increases to $1 per gallon, the gasoline price rises, demand for bicycles shifts rightward.
Option B
<u>Explanation:</u>
If the price of gasoline increases, then probably there will be a decrease in the consumption of the same as a result of which the demand for the substitute product, bicycle increases.
Demand curve a graphical representation of changes in the product or service demanded along with the changes in the cost or price of the service or product. Increase in the demand for a product, is generally represented by the rightward shift in the demand curve.
Answer:
The labor would increase
Explanation:
When the government decides to lower the income tax in the coming year, which is financed by the findings of a large as well as a previously unknown warehouse for real goods, then there would be an increase in the labor as the reduction in the income tax would cause more and more investment. And thus organizations and firms increase their efficiencies and create more and more output by increasing the labor.
Answer: $1,110 .
Explanation:
Given : Amount received by concession stand in gameday sales = $5,550
i.e. Gross income = $5,550
Profit for the event = $3,330
i.e. Net income =$3,330
According to the Net income formula ,
Gross income - expenses = Net income
⇒ Expenses = Gross income - Net income
⇒ Expenses = $5,550- $3,330
⇒ Expenses = $1,110
Thus , the expenses were $1,110 .
