FIFO is cost flow assumption that generally results in the highest reported amount of net income in periods of rising inventory costs.
<h3>What is First In, First Out?</h3>
First In, First Out, can be regarded as the is an asset-management techniques which is been used in analyzing assets.
With this techniques the asset that is usually disposed first are those that are first gotten, and this is usually done for the purpose of tax, and uses the assumption that there inclusion of old items in income statement.
learn more about FIFO at :brainly.com/question/24137318
#SPJ1
The answer would be B because demand would increase, therefore if there are more consumers there will be less product as people keep buying (therefore p decreases)
Answer:
Divisional product structure
Explanation:
Divisional product structure is also referred to as a product based structure. Employee are shared into divisions based on products they manufacture and sell within a particular geographic location.
The advantage of this structure is that employees work efficiently on the production and sale of one particular product.
This is ideal for ABC production that are expanding from a single product line into several diverse product groups, with most sales within one country.
Answer:
False
Explanation:
Spending Variance is best described as the rate of difference in actual and budgeted quantum. It is the difference calculated using standard rate, actual rate and actual quantum of activity.
As, for labor spending variance = (Standard Rate - Actual rate per hour) Actual Labor hours.
For Material spending variance = (Standard price per unit - Actual Price per unit) Actual quantity used.
Thus, it is never the difference between total cost between static and flexible budget.
Therefore, the stated statement is False.