When determining costs of jobs, how does a company account for indirect materials?

Under which of the following conditions will the FIFO method produce the same cost of goods manufactured as the weighted-average

joja [24]

Answer: The correct answer is ".B. There is no beginning inventory.".

Explanation:

The weighted average method produces the same cost of manufactured goods as the FIFO method (First in First out) when there is no beginning inventory because there are no units at the beginning that drag the cost.

7 0

4 years ago

What tends to happen to the inflation rate if the Fed works to lower the unemployment rate? Why?

STatiana [176]

Answer:

The inflation rate increases because of increased spending.

Explanation:

In order to lower the unemployment rate, the government needs to increase production. Higher production needs more investment. The investment will increase if the cost of borrowing decreases. So the feds need to decrease the interest rate on borrowings.

This decrease in interest rate will cause the investment to increase, as a result the firms will produce more. To increase production, they will need more workers. In this way, the unemployment rate will decrease.

6 0

3 years ago

As a noncommissioned employee in a company, your pay rate is most likely based on

Citrus2011 [14]

If you are an employee who is not working on a commission basis, then most likely, you are working as a salary based employee. Your salary would usually be based on your going rate or your market value to the employers. Based on your caliber, the employers will decide what your salary would be. For example, if you are a fresh grad, you will start with an entry level salary while if you are a manager, you will obviously be receiving a higher salary.

7 0

4 years ago

Read 2 more answers

How is it possible that Switzerland, a landlocked country with almost no natural resources, is one of the richest countries in t

BARSIC [14]

Answer:

The correct answer is option D.

Explanation:

Even though the democratic republic of Congo is rich in natural resources while Switzerland has almost no natural resources, but Switzerland is among one of the richest countries while Congo is among the poorest.

This indicates that abundant natural resources are not the only factor required for economic growth. Other factors such as human capital, physical capital, state of technology, etc. are also necessary for economic growth. Abundant natural resources cannot be efficiently utilized without these factors.

Even if a country is not rich in natural resources but possesses these factors, it can still have high economic growth.

3 0

3 years ago

Pharoah Company began operations in July 2020. At the end of the month, the company prepares monthly financial statements. It ha

abruzzese [7]

Answer:

1.At July 31, the company owed employees $1,100 in salaries that the company will pay in August.

July, 31

DR Salaries Expense.................................................$1,100

CR Salaries Payable.................................................................$1,100

(To record accrued salaries expense)

2.On July 1, the company borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 12%.

July entry would be;

July 31,

DR Interest Expense ................................................$200

CR Interest Payable ............................................................$200

(To record interest accrued for the month)

Working

= 20,000 * 12%/12 months

= $200

3. Service revenue unrecorded in July totaled $3,000.

July 31,

DR Accounts Receivable .......................................$3,000

CR Service Revenue ...............................................................$3,000

( To record unrecorded Service revenue.)

3 0

3 years ago