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
Alinara [238K]
2 years ago
11

Ross Electronics has one product in its ending inventory. Per unit data consist of the following: cost, $24; selling price, $40;

selling costs, $9. What unit value should Ross use when applying the lower of cost or net realizable value rule to ending inventory?
Business
1 answer:
Nonamiya [84]2 years ago
5 0

Answer:

Unit value would be $24

Explanation:

Lower of cost is the method which is described as where the inventory that should be recorded at the lowest or the net realizable value (NRV). This method is linked with the principle or the guideline of conservatism.

When Ross is applying the method of lower of cost or net realizable value, to the ending inventory, the unit value would the cost per unit that is $24 and the selling price which is to be taken is $9 as it is the lowest.

You might be interested in
Assume that Delalo, Inc. is operating at full capacity. Also assume that assets, costs, and current liabilities vary directly wi
Murrr4er [49]

Answer:

Explanation:

External financing needed =

(1.10×$12,470) - (1.10× $1330)- $3200-$4600 - ($2,840+($45×1.10)=$616. 36.

The need for external financing is intermediate.

6 0
3 years ago
Read 2 more answers
The economic term for the want-satisfying ability, or value, that organizations add to goods or services is
Lana71 [14]

The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

<h3>What is utility?</h3>

Utility refers to the amount of satisfaction a consumer derive from the consumption of certain commodities.

It is the importance or value added to a product or service that helps gives the consumer useful information about all products and services.

Hence, the economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

Learn more about utility here : brainly.com/question/24848038

4 0
2 years ago
When one considers the largest manufacturing organizations in the united states, it is clear that they all have one thing in com
REY [17]

They are all picking the largest manufacturing organizations because they are well known. This manufacturer takes the time to advertise and promote themself where different businesses are aware of who they are and want to use them. By investing in your business and advertising, you have a greater chance of reaching more clients.

4 0
3 years ago
India specializes in business process outsourcing and does this more efficiently than any other country. It buys agricultural co
uysha [10]

Answer:

Ricardo’s Theory of Comparative Advantage

Explanation:

Comparative advantage is the term used to define the ability of an individual, firm or country to produce a particular good or service at a lower opportunity cost than that if it’s competitors or trade partners. Opportunity cost is the benefit lost from the second best alternative.

When a country can produce a product more efficiently (i.e maximum output using minimum resources) than that of its trade partners, it is known as that it has absolute advantage in that product. India tends to have absolute advantage in both business processes outsourcing as well as producing agricultural commodities as it is mentioned that it can produce both of these more efficiently than the United States.

However, although it has absolute advantage in both, it is still less efficient in producing agricultural commodities when compared to business process outsourcing. In other words, if it attempts to produce agricultural commodities in-house, the benefit lost from the second best alternative: business process outsourcing is high. The opportunity cost is higher when it produces agricultural commodities than it is when it does business process outsourcing. Hence, due to the law of comparative advantage, it chooses to specialize in business process outsourcing and imports agricultural commodities.

5 0
2 years ago
Majestic Corporation manufactures wheel barrows and uses budgeted machine hours to allocate variable manufacturing overhead. The
andre [41]

Answer:

$409185

Explanation:

Given: Budgeted output units: 28,475 units

Budgeted machine-hours: 17,085 hours

Budgeted variable manufacturing overhead costs for 28,475 units: $358,785

Actual output units produced: 32,475 units

Actual machine-hours used: 15,000 hours

Actual variable manufacturing overhead costs: $384,060.

First, we will find Budgeted machine hour per unit produced.

Budgeted machine hour per unit produced=  \frac{Budgeted\ machine\ hour}{Budgeted\ units}

⇒Budgeted machine hour per unit produced= 17085\div 28475= 0.6

∴Budgeted machine hour per unit produced= 0.6

Budgeted machine hours allowed for 32475 units= 32475\times 0.6= 19485

Budgeted variable overhead rate per machine hour= \textrm {Budgeted variable manufacturing overhead costs}\div Budgeted\ machine\ hours

Budgeted variable overhead rate per machine hour= 358785\div 17085= \$ 21

Now, lets find out flexible budget amount.

Flexible budget amount= \textrm{Budgeted machine hours allowed}\times \textrm{Budgeted variable overhead rate}

Flexible budget amount= 19485\times \$ 21= \$ 409185

∴Flexible budget amount for variable manufacturing overhead= $409185

6 0
3 years ago
Other questions:
  • A media campaign geared to prevent a policy change the interest group does not favor is known as a(n) __________ campaign.
    12·1 answer
  • A buyer took out a $6,000 loan for 10 years at 10.5% interest. The buyer made principal payments of $75 a month on the loan in a
    13·1 answer
  • A price ceiling creates a shortage when it is set
    8·1 answer
  • The sum of the fixed and variable production costs is a company’s
    6·1 answer
  • All of the following are functions of the Federal Reserve System EXCEPT:______
    9·1 answer
  • 4. Suppose you hold a PUT option on Israeli shekels with a strike price of 3.4207s/$. If the spot rate on the final day of the o
    13·1 answer
  • When Maria, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton,
    10·1 answer
  • The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are p
    12·1 answer
  • Which statement below best describes the positivist way of conceptualizing an organization?
    5·1 answer
  • A farmer and an investor negotiate a Futures Contract where Tomatoes will be sold
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!