I took this question already, so if it was
<span>
Often, when both parties to a contract are mistaken as to the same material fact, either party can rescind the contract.
It would be "True"
</span>
The price is below market value: If the price of a used vehicle seems too good to be true Fake escrow services: Though escrow services are a legitimate way to protect your money, fraudsters may attempt to trick you into using a fake escrow service.
Answer:
a. 60,600
Explanation:
Given,
The number of units completed and transferred out = 6000,
Ending inventory = 3,000,
Percentage of completed units with respect to materials = 20%,
So, the additional completed units = 20% of 3000
= 600
Hence, the weighted average equivalent units of production for materials for the month = 60,000 + 600
= 60, 600
OPTION A would be correct.
The answer would be true. The reason for that is because excel automatically saves what you added on the sheet.
Answer:
Income under absorption costing = $1,100,000
Explanation:
Marginal and absorption costing are two different methods to deal with fixed production overheads and and decide whether or not they are included in valuation of inventory.
<u>Valuation of inventory</u>
Opening and closing inventory are valued at variable cost under variable costing. Whereas in absorption costing, opening and closing inventory are valued at full production cost (including fixed production overheads).
<u>Reconciling profits reported under two different methods</u>
When inventory levels increase or decrease during a period then profits will differ under absorption and marginal costing because of fixed production cost.
Net Income under absorption costing = Income under variable costing + fixed production cost in ending inventory – fixed production cost in beginning inventory
= $1,050,000 + $300,000 - $250,000
= $1,100,000
