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mars1129 [50]
3 years ago
8

ABC generally causes the least amount of cost distortion among products because indirect costs are allocated to the products bas

ed onA.types of activities used by the product.B.the extent to which the activities are used.C.both A and B.D.none of the above.
Business
1 answer:
poizon [28]3 years ago
5 0

Answer:

C.both A and B

Explanation:

The indirect costs are allocated to the products based on: The types of activities used by the product and the extent to which the activities are used.

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Prime Corp. has an ending balance in the accounts receivable account of $100,000. Prime recorded bed debt expense of $3000. Prim
Lelu [443]

Answer:

True

Explanation:

Prime's net realizable value of accounts receivable = accounts receivable balance - allowance for uncollectible accounts = $100,000 - $7,000 = $93,000

Bad debt expenses have already been debited, so they are no longer part of the allowance for uncollectible accounts.

5 0
3 years ago
Which difference between your bank statement and your records is most likely to indicate fraud
qaws [65]

Answer:

A PURCHASE YOU DID NOT MAKE

Explanation:

I just took the quiz

5 0
2 years ago
Presented below are transactions related to Novak Corp.
bearhunter [10]

Answer:

1) December 3, 202x, merchandise sold on account to Sarasota Corp., credit terms 4/10, n/30, FOB shipping point.

Dr Accounts receivable 644,700

    Cr Sales revenue 644,700

Dr Cost of goods sold 363,600

    Cr Merchandise inventory 363,600

2) December 8, 202x, sales allowance granted to Sarasota Corp.

Dr Sales returns and allowances 27,400

    Cr Accounts receivable 27,400

Sales returns and allowances is a contra revenue account that decreases sales revenue.

3) December 13, 202x, invoice collected from Sarasota Corp.

Dr Cash 592,608

Dr Sales discounts 24,692

    Cr Accounts receivable 617,300

Sales discounts is another contra revenue account that decreases sales revenue.

6 0
3 years ago
Which of the following is a true statement about an auditor’s responsibility regarding consideration of fraud in a financial sta
Olegator [25]

Answer:

D. The auditor should assess the risks of material mis-statement due to fraud.

Explanation:

At the time of auditor visit in a company the financial statement represent that the company has done the fraud in this scenario, the auditor should analyze the material misstatement risk that is done for fraud

Therefore in the given case, the option D is correct as the auditor responsibility is that he or she should analyze the risk with respect to the false statements presented in the financial statement

6 0
3 years ago
A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12
aleksley [76]

Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$

EOQ = $\sqrt{\frac{2 \times 2000 \times 12}{3.6}}$

        = 115.47

The expected number of orders = $\frac{\text{demand}}{EOQ}$

                                                      $=\frac{2000}{115.47}$

                                                      = 17.32

The daily demand = demand / number of working days

                               $=\frac{2000}{240}$

                              = 8.33

The time between the orders = EOQ / daily demand

                                                 $=\frac{115.47}{8.33}$

                                                  = 13.86 days

ROP  = ( Daily demand x lead time ) + safety stock

        $=(8.33 \times 8)+10$

         = 76.64

The annual holding cost = $\frac{EOQ}{2} \times \text{holding cost}$

                                         $=\frac{115.47}{2} \times 3.6$

                                         = 207.85

The annual ordering cost = $\frac{\text{demand}}{EOQ} \times \text{ordering cost}$

                                           $=\frac{2000}{115.47} \times 12$

                                           = 207.85

So the total inventory cost = annual holding cost + annual ordering cost

                                            = 207.85 + 207.85

                                            = 415.7

6 0
2 years ago
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