Answer:
Monthly interest rate = 2.16666667%
Explanation:
Given:
Annual percentage rate = 26% = 26 / 100 = 0.26
Total number of months in a year = 12 month
Monthly interest rate = ?
Computation of monthly interest rate :
Monthly interest rate = Annual percentage rate / Total number of months in a year
Monthly interest rate = 0.26 / 12
Monthly interest rate = 0.0216666667
Monthly interest rate = 2.16666667%
Answer:
Under last in, first out (LIFO) inventory method, the units purchased last are used to determine the cost of goods sold. This doesn't mean that exactly the last units purchased will be sold first, it is just used as an accounting tool.
In this case, the last unit purchased costed $20, and the immediately previous one costed $15. Under LIFO, these 2 units would have been sold (COGS = $35), and the ending inventory = $10 (the price of the "oldest" unit).
Answer:
40,000 units
Explanation:
Given that,
Selling price per unit = $45 per unit
Variable cost per unit = $25
Fixed cost = $800,000
Contribution margin per unit:
= Selling price per unit - variable cost per unit
= $45 - $25
= $20
Break - Even units:
= Fixed cost ÷ Contribution margin per unit
= $800,000 ÷ $20
= 40,000 units
Therefore, the Break - Even sales in units are 40,000.
Reconciliation is the accounting process of comparing two data sets to ensure that the numbers are correct and consistent.
Reconciling bank statements simply means comparing your internal financial records with those provided by your bank. This process is critical to being able to identify anomalous transactions caused by fraud or accounting errors.
All businesses are required to reconcile their banks at least once a month. It is convenient to reconcile the books immediately after the end of the month, as at the end of the month your bank will send you a monthly statement that you can use as the basis for your reconciliation. Balance sheet reconciliation is the process of closing the balances of all individual companies.
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The answer to the question above is option C: they can result in a channel member having too much control. Firstly, we define what vertical system is. From the term itself vertical, the formation of the members is from top to bottom. Therefore, this includes the <span>producer, wholesaler, and retailer and this is where the distribution channel occurs. The reason why this kind of system is a business ethic issue is due to channel members that might have too much control because of their positions and unequal distribution of tasks. </span>
