Answer:
The amount of the impairment loss for this asset is <u>$110,000</u>
Explanation:
A assets is impaired when the fair market value of that assets lowers than the book value of the asset.
To calculate the impairment of an assets following formula is used
Impairent = Book value of Asset - fair market value of the asset
Placing values in the formula
Impairent = $700,000 - $590,000
Impairent = <u>$110,000</u>
Answer:
The correct answer is (2)The workers on shop floor lack the autonomy to stop the manufacturing on their own initiative.
Explanation:
The company operates on a push system, where products are made and inventory built up based on best-guess forecasts.
The push system of inventory control involves forecasting inventory needs to meet customer demand. Companies must predict which products customers will purchase along with determining what quantity of goods will be purchased.
So, from the given options, the correct answer is (2)The workers on shop floor lack the autonomy to stop the manufacturing on their own initiative
Answer:
Endign inventory cost= $3,708
Explanation:
Giving the following information:
Purchases 378 units at $20
Purchases 54 units at $22
<u>Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the lasts units incorporated into inventory:</u>
Ending inventory in units= 180
Endign inventory cost= 54*22 + 126*20
Endign inventory cost= $3,708
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He would have to long 36 hours in order to match the salary
