1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Inessa [10]
3 years ago
8

Lexington Company sells product 1976NLC for $50 per unit. The cost of one unit of 1976NLC is $45, and the replacement cost is $4

3. The estimated cost to dispose of a unit is $10, and the normal profit is 40%.
At what amount per unit should product 1976NLC be reported, applying lower-of-cost-or-market?
a. $20.
b. $40.
c. $43.
d. $45.
Business
1 answer:
aleksklad [387]3 years ago
6 0

Answer:

b. $40.

Explanation:

We select the lower of each of the following for reporting purposes.

Cost = $45

Replacement cost = $43

Neat realizable value = Selling price - disposal and completion costs

NRV = 50 - 10 = $40

We use lower of the values to take into account obsolete inventory or deterioration of inventory and as such the lowest of NRV is used for recording purposes.

Hope that helps.

You might be interested in
a marketing plan is an important tool for communicating details of the marketing functions. what else is the marketing plan used
Ainat [17]

Answer:

to attract customers or other buissness man that might want to invest

4 0
2 years ago
Suppose that capital becomes more productive. What would we expect to happen? Choose one:
Nata [24]

<u>Answer:</u>

<em>D. The equilibrium interest rate and amount invested would both increase </em>

<em></em>

<u>Explanation:</u>

Investment spending is a significant classification of actual GDP. Not exclusively is it the most unstable piece of real GDP; however, speculation spending on physical capital is additionally a significant supporter of financial development. Things being what they are, if a firm needs to construct another processing plant, where does it get the assets to assemble it? The investment of loanable assets depends on investment funds. The interest in loanable assets depends on getting.

6 0
3 years ago
Complete the statements on how to do a career search by correctly filling in the missing information
Triss [41]

Answer:

The correct answers would be Skills and Employment outlook respectively.

Explanation:

When you are about to choose a career that will be best suited to you, It would be best to find out your skills that would be required to perform the job effectively. A person must be aware of his skills and talents and then he has to search for the career accordingly, because this will determine whether the career is a good match with your skills or not. After this assessment, you should also look into the market trends for the job opportunities of the career that you are thinking to pursue. This will help you focus more on the career development and save your time to search for the job after completing the academic career in the non relevant field.

3 0
3 years ago
Read 2 more answers
Sheffield Corporation incurred the following costs in 2020. Cost of laboratory research aimed at discovery of new knowledge $145
Stells [14]

Answer: Debit Research and Development expense $477,000

Credit Cash $477,000

Explanation:

The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.

Based on the information given in the question, the journal entry for Sheffield Corporation will be:

Debit Research and Development expense $477,000

Credit Cash $477,000

8 0
2 years ago
Which statement about writing skills in today's workplace is most accurate?
Ede4ka [16]
The answer to this question is c
3 0
3 years ago
Other questions:
  • iSooky has a spotter truck with a book value of $40,000 and a remaining useful life of five years. At the end of the five years
    5·1 answer
  • An important part of the onboarding process is to explain the history, values, and mission of the company. The ________ step is
    13·2 answers
  • Public goods represent a market failure because
    6·1 answer
  • Individuals frequently purchase products thought to be used by a desired group in order to achieve actual or symbolic membership
    5·1 answer
  • If Coca-Cola had all the human resources, operations, marketing, and accounting functions for the bottled water division at an o
    12·1 answer
  • What causes cost-push inflation
    9·1 answer
  • Suppose the own price elasticity of demand for good X is -3, its income elasticity is -3, its advertising elasticity is 4, and t
    10·1 answer
  • Select all that apply select the policies that are intended to encourage economic growth.
    12·2 answers
  • Which of the following tips can help you avoid electrical
    7·1 answer
  • When rival firms compete aggressively by trying to attract competitors' customers, this might be an indication of: a. increasing
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!