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Minchanka [31]
3 years ago
14

Fonda Motorcycle Shop sells motorcycles, ATVs, and other related supplies and accessories. During the taking of its physical inv

entory on December 31, 20Y8, Fonda Motorcycle Shop incorrectly counted its inventory as $337,500 instead of the correct amount of $328,850. a. State the effect of the error on the December 31, 20Y8, balance sheet of Fonda Motorcycle Shop. b. State the effect of the error on the income statement of Fonda Motorcycle Shop for the year ended December 31, 20Y8. c. If uncorrected, what would be the effect of the error on the 20Y9 income statement
Business
1 answer:
saul85 [17]3 years ago
4 0

Answer:

See attached file

Explanation:

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The price of crude oil increases 50%. This will cause a change in ( supply/ quality supplied )
Paladinen [302]

Answer:

See below

Explanation:

A price increase motivates suppliers to avail more products for sale in the markets. High prices tend to have a high margin hence more profits. Like other businesses, oil producers are profit-motivated; they will supply more quantities if there is a high probability of making more profits.

The law of supply explains the correlation between supply and price. As prices increase, supply also tends to increase.

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3 years ago
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Westkost [7]

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The correct answer is option D

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5 0
3 years ago
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Department 1 completed and transferred out 450 units and had ending work in process inventory of 60 units. The ending inventory
Reil [10]
The answer to this is 462
8 0
3 years ago
Multiple Choice
pickupchik [31]

Answer:

inflation

Explanation:

7 0
3 years ago
The standard costs and actual costs for direct materials for the manufacture of 1,910 actual units of product are as follows: St
vesna_86 [32]

Answer:

$774 unfavorable

Explanation:

The computation of the direct material quantity variance is shown below:

= Standard Price × (Standard Quantity - Actual Quantity)

= $8.60 × (1,910 kilograms - 2,000 kilograms)

= $8.60 × 90 kilograms

= $774 unfavorable

Since it is unfavorable as it derives that actual quantity is more than the standard quantity and in the case of favorable, the actual quantity is less than the standard quantity

6 0
3 years ago
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