Explanation:
LIFO stands for “Last-In, First-Out”. It is a method used for cost flow assumption purposes in the cost of goods sold calculation. The LIFO method assumes that the most recent products added to a company's inventory have been sold first. The costs paid for those recent products are the ones used in the calculation.
Answer:
Explanation:
There is a difference between business management and technology management.
Business management refers to managing the organization's business perspective so that the direct business objectives of the organization is served.
Business management involves managing the domain, employees, looking after the business processes of an organization, etc. whereas
While technology management is used to make the business process simple and convenient through various aspects like managing the technical aspect of each and every business process and that is possible by having details about the technical aspects that are involved in all the business process of the organization.
For an organization to be successful it should possess all the required management techniques that include the business and technical aspects both.
Today the way of doing business has changed a lot and hence the organizations need to be quite diligent and effective in order to sustain and remain competitive in the industry.
Answer:
option (C) 32,750 hours
Explanation:
Data provided in the question:
Actual manufacturing overhead cost = $250,000
Overapplied overhead = $12,000
Predetermined overhead rate = $8.00 per direct labor-hour
Now,
The total Manufacturing Overhead applied last year
= Actual manufacturing overhead cost + Overapplied overhead
= $250,000 + $12,000
= $262,000
Therefore,
Direct Labor Hours worked last year = 
or
= 
= 32,750 hours
Hence,
The correct answer is option (C) 32,750 hours
Answer:
Maximum Amount Payable = $8333.33
Explanation:
Perpetual Annuity Payment = $500
Growth Rate = 3%
Discount Rate = 9%
Maximum Amount Payable = Present Value of Perpetual Annuity
Present Value of Perpetual Annuity = Perpetual Annuity Payment / (Discount rate - Growth rate)
Maximum Amount Payable = $500 / (0.09 - 0.03)
Maximum Amount Payable = $500 / 0.06
Maximum Amount Payable = $8333.33
Answer:
a) DM Windshield
(b) DM Engine
(c) DL Wages of assembly line worker
(d) MO Depreciation of factory machinery
(e) MO Factory Machinery lubricants
(f) DM Tires
(g) DL Steering wheel
(h) MO Salary of painting supervisor
Explanation:
Direct materials (DM) are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.
Direct labor (DL) is production or services labor that is assigned to a specific product, cost center, or work order.
Manufacturing overhead (MO) is all indirect costs incurred during the production process.
(a) DM Windshield
(b) DM Engine
(c) DL Wages of assembly line worker
(d) MO Depreciation of factory machinery
(e) MO Factory Machinery lubricants
(f) DM Tires
(g) DL Steering wheel
(h) MO Salary of painting supervisor
