The main function of merchandise inventory is that with ongoing supply of items the operation will go on.
Explanation:
Inventory is referred to as the raw materials as well as the finished products used to make goods and services.There are various functions of merchandise inventory , they are as follows it increases the productivity in an efficient way as well as increases the profit .It maintains the quality as well as balances the demand and supply. It helps in planning and forecasting also.
Inventory management helps in reducing the cost. Helps in proper monitoring and controlling.
Answer:
E. has cross-researcher reliability.
Explanation:
Lisa here performs a study, on some topic and when she does the comparison of her study, with the studies done earlier on the same topic, she is creating the validation of her study.
If the sample area and conclusions are same, it can be stated based on the principle of majority that both the studies are correct in displaying the trend.
She is basically doing the cross researcher reliability. That she makes it confirm that other researchers also agree with the same.
Answer:
19.) b, d
20.) d, a
21.) d, c
22.) a
23.) c
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Answer:
1) YoSan Inc.
Income Statement
For the month ended July 31, 202x
Sales revenue $2,150,000
<u>- Cost of goods sold $1,520,000</u>
Gross profit $630,000
<u>- S & A expenses $300,000</u>
Operating profit $330,000
2) YoSan Inc.
Income Statement
For the month ended July 31, 202x
Sales revenue $2,150,000
- Variable costs:
- Direct materials $800,000
- Direct labor $350,000
- Variable manufacturing cost $130,000
- Variable S & A expenses $170,000 <u>$1,450,000 </u>
Contribution margin $700,000
- Period costs:
- Fixed manufacturing cost $288,000
- Fixed S & A expenses $96,000 <u> $384,000 </u>
Operating profit $316,000
3) When you prepare a variable costing income statement, the ending inventory of finished goods and WIP only includes variables costs. All fixed or period expenses are included during the period that they occur and are not carried over to the next period. I.e. the ending inventory (400 units) for next month will be lower under variable costing.