Answer:
In periods of inflation, LIFO will result in the lowest reported net income, and therefore a company will pay less in federal income taxes ⇒ TRUE STATEMENT
Explanation:
Last in, first out (LIFO) uses the price of the last units purchased in order to determine the cost of goods sold. When inflation is high, prices tend to increase continuously, therefore, the price of the last units purchased will always be higher than the price of the first units purchased. This doesn't mean that exactly the last units purchased will be the ones sold, it is just an accounting method.
Explanation:
The computation of the activity rate for each activity is shown below:
As we know that
Activity Rate = Expected rate ÷ Activity Driver
For Handling material = $650,000 ÷ 100,000 = $6.50 per part
For Inspecting product = $925,000 ÷ 1,500 parts = $616.67 per batch
For Processing purchase orders = $130,000 ÷ 700 = $185.72 per orders
Paying supplies = $200,000 ÷ 500 = 400 per invoices
Insuring the factory = $325,000 ÷ $40,000 = $8.125 per square foot
Designing packaging = $100,000 ÷ 2 models = 50,000 per models
ram.asked me not to stand
Actually the quartile represents in what rank or order the
team is when all the goals per team is arranged in ascending order. So for
example since the team is on the first quartile, so this means it is on the 25%
of the ranking. Hence we can say that:
“the team scored fewer goals per game
than 75% of the teams in the league”
