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Mama L [17]
3 years ago
7

Given the same purchase and sales data, the three major costing methods for inventory will result in three different amounts for

sales revenue.
Assume the cost of inventory is rising.

Required:

A. True

B. False
Business
2 answers:
Hatshy [7]3 years ago
8 0

Answer:

False. The amount for sales revenue doesn't change in three different prices given the purchase and sales data.

Explanation:

Firs in, first out, last in, last out and average cost are the three major costing methods. And even though the cost of goods is directly linked to the product. The price is not defined by it, also the inventory cost is not going to change due to the price of sales. It is defined by external conditions. The final price of a product is defined by offer and demand. So in our case, the three major costing methods won't drive three different amounts of sale revenue if we analyze them with three different methods to calculate it.

sdas [7]3 years ago
4 0

Answer:

The correct answer is False.

Explanation:

This statement is false, because as much as the sales prices, the quantities sold and the income received from sales never change. For this reason it is considered that the cost of goods sold will always be different. It was taken into account that the price of the inventory increased.

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On December 31, 2020, Marin Company borrowed $67,653 from Paris Bank, signing a 5-year, $114,000 zero-interest-bearing note. The
igor_vitrenko [27]

Answer:

Journal Entries

December 31, 2020

Dr. Note Receivables $114,000

Cr. Discount on bond $46,347

Cr. Cash $67,653

December 31, 2020

Dr. Impairment loss $20,839

Cr. Allowance for Impairment $20,839

Explanation:

Calculate the discount on the bond as follow

Discount on the bond = Face value of Note - Borrowed Amount = $114,000 - $67,653 = $46,347

On December 31, 2020 calculate the present value of face value of note and recoverable value

Present value of Note = Face value x Discount factor at 11% for 3 years = $114,000 x 1/( 1 + 11%)^3 = $83,355.82

Present value of recoverable value of note = Recoverable value of note x Discount factor at 11% for 3 years = $85,500 x 1/( 1 + 11%)^3 = $62,516.86

Now calculate the impairment loss as follow

Impairment loss = Present value of Note - Present value of recoverable value of note = $83,355.82 - $62,516.86 = $20,838.96 = $20,839

8 0
3 years ago
To compare two programs for training industrial workers to perform la skilled job, 10 workers are included in an experiment. All
Alex17521 [72]

If we compare the p value and the significance level assumed  we see that  so we can conclude that we have enough evidence to reject the null hypothesis, and we can conclude the the true mean for method 1 is lower than the mean for the method 2 at 5% of significance.

<h3>Data given and notation</h3>

We can calculate the sample mean and deviation with these formulas:

represent the mean for the sample mean for 1

represent the mean for the sample mean for 2

represent the sample standard deviation for the sample 1

represent the sample standard deviation for the sample 2

sample size selected 1

sample size selected 2

represent the significance level for the hypothesis test.

t would represent the statistic (variable of interest)

represent the p value for the test (variable of interest)

State the null and alternative hypotheses.

We need to conduct a hypothesis in order to check if the average time taken when training under method 1 is less than the average time for Method 2, the system of hypothesis would be:

<h3>Null hypothesis:</h3>

Alternative hypothesis:

If we analyze the size for the samples both are less than 30 so for this case is better apply a t test to compare means, and the statistic is given by:

(1)

t-test: "Is used to compare group means. Is one of the most common tests and is used to determine whether the means of two groups are equal to each other".

Calculate the statistic

We can replace in formula (1) the info given like this:

 P-value

The first step is calculate the degrees of freedom, on this case:

Since is a one sided test the p value would be:

To learn more about  null hypothesis visit the link

brainly.com/question/16261813

#SPJ4

5 0
1 year ago
Alliance Company budgets production of 23,000 units in January and 27,000 units in the February. Each finished unit requires 4 p
iris [78.8K]

Answer:

Total= 96,800 pounds

Explanation:

To calculate the direct material requirement, we need to use the following formula:

Budgeted material= required for production + desired ending inventory - beginning inventory

<u>Budgeted material:</u>

Production for January= (23,000*4)= 92,000

Desired ending inventory= (27,000*4)*0.3= 32,400

Beginning inventory= (27,600)

Total= 96,800 pounds

7 0
3 years ago
As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 32,000 Treasury stock 570,000 Paid-in ca
Thepotemich [5.8K]

Answer:  $9,182,000

Explanation: This question can be done as follows :-

Total shareholders equity = paid in capitals + other paid in capitals + retained earnings - treasury stock

Putting the values into equation we get :-

Total shareholders = $32,000 + $5,200,000 + $4,200,000 - $250,000

equity

                                = $9,182,000

8 0
3 years ago
What are goods produced outside of the united states that are sold and shipped for use in the united states called?
Reptile [31]
IMPORTS ... It is called a noncontiguous state. Alaska and ... Goods produced outside of the US and sold and shipped for use in the US are called? imports.
7 0
3 years ago
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