Answer: The correct answer is "A. A only".
Explanation: First-in, first-out (FIFO) process costing first transfers out the costs in beginning inventory because the oldest units are the first to leave (First in - First out).
And it does not require an additional step in cost allocation to units transferred out and the final Work-in-Process inventory.
Political, economic, social and technological
Answer:
B) $647.47
Explanation:
The initial closing date was set for May 1st, but due to a problem with the buyer, it was moved to May 10th but that date was accepted by the seller. This means that the buyer should be responsible for the property taxes starting May 10th.
Property taxes per day = $1,832 / 365 days = $5.02 per day
Susan is responsible for paying 31 days in January, 28 days in February, 31 days in March, 30 days in April, and 9 days in May = 129 days x $5.02 = $647.47
The buyer is responsible for $1,184.53 in property taxes.
Answer:
$200 billion
Explanation:
Okun's law (or rule of thumb) states that for every 1% point drop in unemployment, the total output of the economy will increase by two percent.
In this case, since unemployment varies by 1% (= 5.5% - 4.5%), that would mean that the potential GDP differs in $200 billion (= $10 trillion x 2%) depending on which economist's unemployment estimation we use.
