<em>Answer</em>:
<u>$52,000</u>
Explanation:
Remember, the FIFO inventory costing method records the inventory value based on the cost of the earliest (first) purchased or in hand balance.
The effective tax rate would usually be applied after the sales, however using FIFO we assume the first value of the inventory prior to the tax deduction.
= 4000 x $13
= $52,000
Therefore, the gross profit for the period is $52,000.
Answer: thinning the assets
Explanation:
Thinning the assets refers to the reduction of the burden of an asset on the buyer by the seller do that the business can be priced at a reasonable value for the buyer. It is done to make a business more affordable.
Since Alice decided to lease the equipment and fixtures from the original owner rather than buying it outright to save money initially, this is thinning the assets.
Answer:
Cause-and-effect relationship - Cost of goods sold
With the Cause and effect relationship, costs are linked to the revenue that they were incurred for to create. Cost of goods would therefore be linked to revenue.
Specific time period - Monthly salary payments to an office employee
Costs are to be recognized in the same period of time they were incurred. The monthly salary is to be paid monthly because it is incurred monthly.
Without regard to related revenue in the period incurred - Advertising expenditures
The advertising costs will be incurred when spent and not when the benefits are accrued.
Answer:
Selling price= $336.6
Explanation:
Giving the following information:
Variable costs:
direct materials= $122
direct labor= $52
variable overhead= $67
Total unitary variable cost= $241
Total fixed costs= 679,000 + 114,000= $793,000
<u>First, we need to calculate the total unitary cost:</u>
Total unitary cost= (793,000/12,200) + 241
Total unitary cost= $306
<u>Now, the selling price:</u>
Selling price= 306*1.1
Selling price= $336.6
The question is incomplete:
You are the new manager in an Indian office. You ask one of your supervisors to move a desk and place it in another corner of the office. The next day you notice it has not yet been done. Why?
-The supervisor was offended you asked him/her and refused to do anything about it
-The supervisor could not find a labourer to move it and would not do so him/herself
-Because things get done slowly in India
Answer:
-The supervisor could not find a labourer to move it and would not do so him/herself
Explanation:
India is a society with a high power distance. This means that there is hierarchy, inequality and employees expect directions. Also, decisions tend to be centralized and people in high positions expect privileges and a certain status. Because of that, in this situation the reason for not moving the desk from the options given is that the supervisor could not find a labourer to move it and would not do so him/herself as he/she considers that it is not part of the job as he/she has a higher position that doesn't involve to do that.
The other options are not right as the supervisor would not be offended a this is a culture in which people expect to receive orders and it is not related to things getting done slowly there.
