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3 years ago

If a company uses LIFO, a LIFO liquidation causes a company's income taxes to increase:_______

Business

1 answer:

olasank [31]3 years ago

4 0

Answer: a. When inventory purchase costs are rising.

Explanation:

Last In First Out is an inventory stock valuation method where newer inventory is sold first and older inventory are sold last.

When a LIFO liquidation occurs, it means that the company has sold off its new stock and are now selling the older one.

This will lead them to have a lower cost of goods sold as the older stock is usually cheaper. If Inventory purchase costs are increasing in the market, then sales prices will have to increase as well. The company will sell at this new price but will still have that lower cost of goods sold.

This means that they would have more profits as a result which will lead to more taxes being charged on them.

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Meek's hunting emporium is a retail store that sells equipment required for hunting. it has established an advertising plan that

Maru [420]

The answer is; "this is an example of a media schedule".
A media schedule or plan assigns the medium or media to be utilized, the particular vehicles, and the inclusion dates of the promoting. It is utilized by advertisers to plan their promotions subsequent to picking the media for their advertising campaign.

5 0

3 years ago

ABC Company listed the following data for the current year:

RideAnS [48]

Answer:

$10,800 underapplied

Explanation:

Calculation for If overhead is applied based on machine hours, the overapplied/underapplied overhead is:

Overhead machine hours=[($1,044,000/24,000)×23,600]-1,037,400

Overhead machine hours=($43.50 x 23,600) - 1,037,400

Overhead machine hours=$1,026,600- 1,037,400

Overhead machine hours= $10,800 underapplied

Therefore If overhead is applied based on machine hours, the overapplied/underapplied overhead is:$10,800 underapplied

5 0

3 years ago

The typical goal used when developing a process-oriented layout strategy is to: minimize the distance between adjacent departmen

Georgia [21]

Answer:

minimize the material handling costs.

Explanation:

A process-oriented layout is a strategic method or technique used by manufacturing companies to organize and develop their work areas (factories) based on the processes and activities being performed at each factory rather than on the product being manufactured.

Hence, the typical goal used when developing a process-oriented layout strategy is to minimize the material handling costs for each factory.

Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.

6 0

3 years ago

Yolanda's Coffee Shop makes a blend that is a mixture of two types of coffee. Type A coffee costs Yolanda $4.25 per pound, and t

vovangra [49]

Answer:

she used type A coffee is 62 pounds

Explanation:

given data

Type A coffee costs = $4.25 per pound

type B coffee costs = $5.60 per pound

this month Yolanda made = 155 pounds

this month total cost = $784.30

to find out

How many pounds of type A coffee did she use

solution

we consider here that this month type A coffee used = x

and type B coffee used = y

so equation will be

x + y = 155 ..................1

and cost equation

4.25 x + 5.60 y = 784.30 ...............2

now from equation 1 we get y

y = 155 - x .........................3

put this value in equation 2

4.25 x + 5.60 y = 784.3

4.25 x + 5.60 ( 155 - x) = 784.3

solve this equation we get

x = 62

so she used type A coffee is 62 pounds

3 0

3 years ago

Transfer payments alter household income, but they do not reflect the economy's production.

Dominik [7]

I think it might be true, I’m so sorry if I’m wrong

8 0

2 years ago