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Anastaziya [24]
3 years ago
6

Why does the risk of incorrect rejection result in an efficiency loss to the auditor?

Business
1 answer:
Sever21 [200]3 years ago
8 0
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An auto parts shop carries an oil filter for trucks. The annual demand for the oil filter is roughly 1200 units. The ordering co
earnstyle [38]

Answer:

The answer is the economic order quantity is 400 units.

Explanation:

For this question, we apply the economic order quantity (EOQ) formula developed by Ford W. Harris in 1913, to find the answer. The formula is shown as below:

EOQ = \sqrt{2DS/H}

in which: EOQ: Economic order quantity; D: Annual Demand in units; S: Cost per order; H: Annual holding cost per unit.

So by substituting the information we are given in the question, we have: D = 1,200 units; S = $80 and H = $1.2. Thus:

EOQ = \sqrt{2 * 1,200 * 80/1.2} = 400 units.

So, the economic order quantity is 400 units.

6 0
3 years ago
On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years.
Komok [63]

Answer:

Dr Amortization Expense $3,000

Cr Patents $3,000

Explanation:

Preparation of the journal adjusting entry on December 31 to recognize the amortization.

Dec. 31

Dr Amortization Expense $3,000

Cr Patents $3,000

(To record Amortization)

Amortization=(Patent rights/Useful life)*6/12

Amortization=($36,000/6)*6/12

Amortization=$3,000

(July 1 to Dec 31 =6months)

8 0
3 years ago
HELP PLZZZ NEED THIS FAST
Helen [10]
My head hurts reading this...
6 0
2 years ago
Read 2 more answers
Grace, James, Helen, and Charles each own equal interests in GJHC Partnership, a calendar-year-end, cash-method entity. On Janua
Sloan [31]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

3 0
2 years ago
Banks pay their customers interest on the money in their accounts for what reason? A. That money earns interest when the bank lo
Bezzdna [24]

Answer:

A. That money earns interest when the bank loans it out.

Explanation:

Banks pay their customers interest on the money in their accounts because that money earns interest when the bank loans it out.

4 0
3 years ago
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