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3 years ago

Which method describes the inventory process in which the first items to be

Business

2 answers:

Ira Lisetskai [31]3 years ago

8 0

FIFO

A P E X..................20

spin [16.1K]3 years ago

7 0

Answer:

Last in, Fast out (LIFO)

Explanation:

The Last in, Fast out (LIFO) method is an accounting method used to attach value to inventory. Under the LIFO formula, the assumption is that the last item to be purchased will be sold first. The costs of the final goods to be produced or purchased will be used to expense the first batch of products to be sold.

LIFO is the contrast of FIFO, which stands for first in first out. LIFO, as an inventory accounting technique, is rarely used outside the US. The approach is suitable for large businesses with huge inventories such as car dealers and retailers.

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A company has an unfavorable direct materials quantity variance. A possible reason for this variance is that:

ycow [4]

Answer:

e. any of the other answers can occur.

Explanation:

The reason for the decision above is variances are not dependent on the direct material quantity variance and the calculation of all is differ. We also know the total direct material variance is total of material quantity & price variance that is because total variance may be favorable or unfavorable. And the option(d) direct labor efficiency variance do not relate with material variance.

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3 years ago

A company that continually adds more features to an existing product to try to appeal to more customers may end up overwhelming

Sloan [31]

It can be noted that when the addition of more features to an existing product overwhelm the customers, it is known as feature fatigue.

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2 years ago

It is not possible for abandonment options to decrease a project's risk as measured by the project's coefficient of variation.

Tatiana [17]

This is false abandonment options should decrease a project's risk.

4 0

2 years ago

PA15.

ser-zykov [4K]

Answer:

Happy Trails

Income statement using variable costing

$ $

Sales 1,900,500

Less: Variable costs:

Direct material (27,000 units x $15) 405,000

Direct labour (27,000 units x $15) 405,000

Variable overhead (27,000 units x $3) 81,000

891,000

Less: Closing stock (8,000 units x $33) 264,000

627,000

Add: Variable selling and administrative 133,000 760,000

Contribution 1,140,500

Less: Fixed cost:

Fixed production cost (27,000 x $25) 675,000

Fixed selling and administrative expenses 300,000 975,000

Net profit 165,500

Profit reconciliation statement

Closing stock Net profit

$ $

Absorption costing 464,000 365,500

Less: Marginal costing 264,000 165,500

Difference 200,000  200,000

The difference of $200,000 in net profit is as a result of $200,000 difference in closing inventory.

Explanation:

In variable costing, variable costs are deducted from sales so as to obtain contribution margin. Net profit is the difference between contribution and fixed costs. Closing stock is the difference between production units and sales units. Closing stock is valued at marginal cost per unit in variable costing. Marginal cost per unit is the aggregate of all variable cost per unit.

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3 years ago

What is the process of converting illegally earned assets to conceal their origin?

Salsk061 [2.6K]

Its Money laundering

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3 years ago

Read 2 more answers