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wlad13 [49]
3 years ago
9

A performance obligation​ is: A. An enforceable promise in a contract with a customer to transfer a good or service to the custo

mer. B. An offer to transfer a good or service to the customer. C. An expectation of a customer for the receipt of a good or service by a vendor. D. A promise in a contract with a customer to transfer a good or service to the customer.
Business
2 answers:
vfiekz [6]3 years ago
8 0

Answer: D. A promise in a contract with a customer to transfer a good or service to the customer.

Explanation: A performance obligation is defined as an enforceable promise in a contract with a customer to transfer a good or service to the customer.

The good or service provided is distinct, in the sense that it is separable or separately identifiable, are substantially the same and have the same pattern of transfer. This is important because in order to identify performance obligations in a contract, firms needs to determine whether or not the goods or services are distinct.

Some examples of goods or services promised in a performance obligation includes sale of goods, resale of goods purchased, grants, constructing, manufacturing, or developing an asset on behalf of a customer etc.

Bumek [7]3 years ago
4 0

Answer:

The correct answer is D. A promise in a contract with a customer to transfer a good or service to the customer.

Explanation:

Performance obligations are those that the entity undertakes to carry out in the contract established with a client, performance obligations are related to the deliverables established or agreed upon in a contractual manner.

At the start of the contract, the entity must evaluate the goods or services promised in a contract with a customer and must consider as a performance obligation each commitment to transfer to the customer a good or service (or a group of different goods and services) or a series of different goods or services that are substantially the same and that have the same pattern of transfer to the client.

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Answer:

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2 years ago
What trait are narcissists likely to have that is associated with leader emergence but not effectiveness?
Evgen [1.6K]

Answer:

c. high creativity

Explanation:

Narcissistic personality disorder is characterized by the behavior of an individual who has a great need to feel admired, this individual has a mental disorder that leads him to have an exacerbated perception of himself and his characteristics, having a vanity and a sense of very strong self-importance.

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2 years ago
A customer who shares his or her views of a firm's product and gets attention from other customers who respect these views is re
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4 0
1 year ago
Titon Sports, which produces footballs, has two departments: cutting and stitching. Footballs that have undergone the cutting pr
zhenek [66]

Answer:

We find the equivalent units for both Weighted Average Method and FIFO separately for cost  calculations . These are given along as required.

Explanation:

Titon Sports

Equivalent Units

Weighted Average Method

Particulars         Units       % of Completion              Equivalent Units

                                      Materials --Conversion    Materials --Conversion

Completed and

Transferred     52,000    100%         100%               52,000     52,000

Ending work

<u>in process      21,500        0%           20%                Zero         4300        </u>

<u>Equivalent Units                                                   52,000       56,300   </u>

Particulars         Units       % of Completion              Equivalent Units

                                            Transferred In                  Transferred In

Completed and

Transferred     52,000               100%                              52,000    

Ending work

<u>in process      21,500                  100%                           21,500</u>

<u>Equivalent Units                                                             73500</u>

<u>Particulars </u>             Transferred In     Materials     Conversion    Total

                                         Costs

Beginning WIP           $ 45,360           $0                  $17,660

<u>Total costs added     $154,560         $28,080           $89,310</u>

<u>Total Costs              199920            $28,080           106970    </u> <u>$334970</u>

b. Conversion cost per equivalent unit during March

                  Total Conversion Costs/ Total Equivalent Units Conversion

               =   106970/56,300 = $1.9 per Equivalent Unit

Materials cost per equivalent unit during March

 Total Materials Costs/ Total Equivalent Units Materials

               =   28080/52000 = $ 0.54 per Equivalent Unit

Transferred In cost per equivalent unit during March

Total Transferred In Costs / Total Transferred In Units

                 = 199920 / 73500 = 2.72

C. Cost Assigned To Transferred Out Goods $ 268,320

Materials = 52,000*0.54= $ 28080

Conversion = 52,000* 1.9=  98800

Transferred in Units = 2.72 * 52000= 141440

Cost Assigned To Ending Work In Process $66650

Conversion = 4300* 1.9=  8170

Transferred in Units = 2.72 * 21500= 58,480

C. Total Costs Assigned = Transferred Out + Ending = <u>$334970</u>

d.  Conversion cost assigned to the ending work in process: $8170

Conversion = 4300* 1.9=  8170

<em>We see the difference between the weighted average and FIFO method is that the FIFO method only accounts for the current period costs not the total the costs.Where as the weighted method includes all the costs from preceeding department and also current costs.</em>

e.Titon Sports

Equivalent Units

FIFO Method

Particulars         Units       % of Completion              Equivalent Units

                                      Materials --Conversion    Materials --Conversion

Completed and

Transferred     52,000    100%         100%               52,000     52,000

Ending work

in process      21,500        0%           20%                Zero         4300  

Less

<u>Beg. WIP       17500        0%            60%              Zero           10500</u>

<u>Equivalent Units                                                   52,000       45,800 </u>

Particulars         Units       % of Completion              Equivalent Units

                                            Transferred In                  Transferred In

Completed and

Transferred     52,000               100%                              52,000    

Ending work

in process      21,500                  100%                           21,500

Less

<u>Beg. WIP       17500                  100%                             17500 </u>

<u>Equivalent Units                                                             56000</u>

<u>f. </u>Materials cost per equivalent unit during March (FIFO)

 Total Materials Costs/ Total Equivalent Units Materials

               =   28080/52000 = $ 0.54 per Equivalent Unit

g. Cost Assigned To WORK In Process (FIFO)  $ 8385

Conversion cost per equivalent unit during March

                  Total Conversion Costs/ Total Equivalent Units Conversion

               =  89310/ 45,800 = $1.95 per Equivalent Unit

Conversion = 4300* 1.95=  $ 8385

h. Cost Assigned To Transferred Out Goods $ 273,000

Materials = 52,000*0.54= $ 28080

Conversion = 52,000* 1.95=  101,400

Transferred In cost per equivalent unit during March

Total Transferred In Costs / Total Transferred In Units

= 154560 / 56,000 = 2.76

Transferred in Units Costs = 2.76 * 52000= 143520

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Which company is a major national credit bureau in the united states
tensa zangetsu [6.8K]

There are three main credit bureaus (also known as credit reporting agencies) servicing the United States: Trans Union, Equifax and Experian. Each bureau is independent and a competitor of each other. Because of this there could be differences between the reports of the three credit bureaus.

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