Answer:
a. LIFO.
Explanation:
The LIFO method refers to an inventory method that means the item which is last purchased should be sold first during the period of time. So in this inventory method the earliest cost in the closing inventory should be recorded
Therefore the given situation, the correct option is a.
And, the other options are wrong
Answer:
Price - increase
Domestic production- increase
Import- reduces
Producer surplus- increase
Explanation:
A tariff is a form of tax on import or export.
When a tariff is imposed on a good , the price of the good increases.
As a result of the tariff , the amount of the goods imported falls as the imported good is now more expensive. The quantity produced by domestic producers increases as consumers would now start demanding for the domestic good. Tariffs are sometimes enacted to discourage importation and encourage domestic production.
As a result of the price increase, producer surplus increases. The increase in price also increases output. The producer surplus is the difference between the price of a product and the least amount the producer is willing to sell his product.
I hope my answer helps you.
Answer: C. 50%
Explanation:
From the above question, If conversion costs are added evenly throughout the production process and the unit have made it 50% of the way through the production process then the percentage completion for conversion costs is 50%
Answer:
break even point in units:
- a = 11,700
- b = 46,800
- c = 35,100
Explanation:
beer mugs contribution margin expected sales
a $5 25,000
b $4 100,000
c $3 50,000
fixed costs = $351,000
if the sales proportion remains the same, we can assume a bundle of products = 1a + 4b + 3c (1 for every 25,000 units) whose contribution margin = $5 + $16 + $9 = $30
break even point = fixed costs / bundle's contribution margin = $351,000 / $30 = 11,700 bundles
break even point in units:
a = 11,700
b = 11,700 x 4 = 46,800
c = 11,700 x 3 = 35,100