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2 years ago

Inventory costing methods place primary reliance on assumptions about the flow of:a. goodsb. costsc. resale pricesd. values

Business

2 answers:

Mrac [35]2 years ago

4 0

Answer: B costs

Explanation:

In business and accounting, cost is the monetary value that has been spent by a company in order to produce something.

Cost accounting aids in decision-making processes by allowing a company to calculate, evaluate, and monitor its costs.

Nana76 [90]2 years ago

3 0

Answer:

The correct answer is letter "B": costs.

Explanation:

Inventory costing methods are approaches used by companies to collect, analyze, summarize, and evaluate the flow of inventory costs. The activity of the firm could determine what type of costing method will be implemented. We can identify four (4) costing methods: Specific Identification; First-In, First-Out (FIFO); Last-In, First-Out (LIFO); and Weighted-Average.

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TB Problem Qu. 1-288 Balerio Corporation's relevant ...Balerio Corporation's relevant range of activity is 8,000 units to 11,000

elena-14-01-66 [18.8K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The relevant range of activity is 8,000 units to 11,000 units.

When it produces and sells 10,000 units:

Direct materials $ 6.40

Direct labor $ 3.20

Variable manufacturing overhead $ 1.50

Fixed manufacturing overhead $ 14.40

Fixed selling expense $ 2.80

Fixed administrative expense $ 2.00

Sales commissions $ 0.80

Variable administrative expense $ 0.70

A) product costs= Direct material + direct labor + manufacturing overhead

Product cost= (6.40*10000) + (3.20*10000) + (1.5*10000) + (14.40*10000)= $255000

B) Q= 9

Variable cost= direct material + direct labor + variable manufacturing overhead + variable sales comission + variable administrative expense

Variable cost= 6.40 + 3.20 + 1.5 + 0.80 + 0.70= $12.60

C) Total variable cost= 12.60*9000=$113400

D) Contribution margin= Price - unitary variable cost

CM= 19.20 - 12.60= $6.6

E) 10,001 units are still is the relevant range. Therefore the incremental costs are the variable cost.

If it sells 1 unit more, the manufacturing cost will increase in the proportion of direct material, direct labor and variable manufacturing overhead.

6.40+3.2+1.5= $11.1

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3 years ago

Knowledge Check 01 On February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man

Simora [160]

Answer:

Cash Dr 10975

To Sales $10,000

To Sales Tax Payable $975 ($10,000 × 9.75%)

(Being the cash is recorded)

Explanation:

The journal entry is shown below;

Cash Dr 10975

To Sales $10,000

To Sales Tax Payable $975 ($10,000 × 9.75%)

(Being the cash is recorded)

For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it also increased the revenue and liabilities

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2 years ago

Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $

Reptile [31]

Answer:

Correct option is C.

$25,000, $25,000.

Explanation:

Gross profit on sale = (300,000-250,000)/300,000 = 16.67%

Gain recognized in:

Year 1 = 150,000 * 16.67% = 25,000

Year 2 = 150,000 * 16.67% = 25,000

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3 years ago

A _______ maintains and distributes to potential creditors information regarding the creditworthiness of potential debtors. mort

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A Credit Bureau maintains and distributes to potential creditors information regarding the creditworthiness of potential debtors. mortgage broker, federal reserve bank, credit bureau, bureau of investigation.
C.B a company that collects information relating to the credit ratings of individuals and makes it available to credit card companies, financial institutions.

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3 years ago

Knowledge Check 01 Which of the following is a correct statement regarding control of over-the-counter cash receipts: multiple c

nevsk [136]

Answer: The supervisor should compare the register transactions with the cash receipts report to make sure that both are correct.

Explanation:

The cash register shows the actual amount of money that is collected by the business during the day and the cash receipts journal records the cash collected.

There is therefore a need to ensure that these two tally up as a control method. The supervisors should therefore check for this and if they find that these two are not the same, it means that there is an error somewhere that needs to be rectified.

4 0

2 years ago