All categories

3 years ago

Which inventory method generally results in costs allocated to ending inventory that will approximate their current costs?

1 answer:

4 0

Which inventory method generally results in costs allocated to ending inventory that will approximate their current costs? FIFO. The FIFO inventory method stands for first-in, first-out. This method allows businesses to keep track of their inventory on an old inventory out before the new inventory basis. The first out inventory is recorded as the first items sold even if they aren't exactly the oldest item.

You might be interested in

Stephanie is the wage earner in a "typical family" with $36,000 gross annual income. Use the easy method to determine how much i

MA_775_DIABLO [31]

Answer:

$176,400

Explanation:

Life insurance need = 0.70 × Salary amount × 7

= 0.70 × $36,000 × 7

= $176,400

Therefore using the easy method the amountof insurance that Stephanie should carry is $176,400

6 0

3 years ago

Read 2 more answers

Elise Corporation has the following sales mix for its three products: A, 20%; B, 35%; and C, 45%. Fixed costs total $400,000 and

Aneli [31]

Answer:

800 units of product A must be sold for break-even

Explanation:

Given, weighted-average contribution is $100.

Total break-even units = Total fixed cost / Weighted-average contribution

Total break-even units = $400,000 / $100

Total break-even units = 4,000 units

Product A break-even = 4,000 x 20%

Product A break-even = (800 units)

Hence, the correct answer is 800 units.

6 0

3 years ago

Marcus, a high school student, works at a lumberyard making $10.50 an hour. with his academic and sports schedule, he is able to

max2010maxim [7]

Given:
salary: <span>$10.50 an hour
25 hours a week

expenses:
Cellphone bill: $65/month
car insurance: $1,200/yr
*20% taxes.

There is no specific question but I will solve for Marcus net earnings for the year.

25 hours/week * 52 weeks/yr = 1,300 hours/year

Wages: 10.50 per hour * 1,300 hours/year = $13,650 Gross salary per year
Taxes: 13,650 * 20% = 2,730

13,650 - 2,730 = 10,920 net salary for the year

Cell phone bill: 65 per month * 12 months = 780

Net salary:    10,920
Cell phone bill    (780)
Car insurance: <u> (1,200)</u>
Net Income:     8,940 per annum.

</span>

3 0

3 years ago

When Corinne asked why she didn't get the job, the manager replied, "I needed someone who understood basic accounting practices

OLga [1]

Answer:

The aspect of career readiness the manager feel Corinne was lacking was Knowledge

Explanation:

Career readiness is the preparation and process of acquiring skills, knowledge, talents that are required to start a career, maintain one's position in such career and grow.

The aspect of career readiness the manager feel Corinne was lacking was Knowledge because see made a statement that implied that Corinne lack basic understanding of accounting practice.

Knowledge is an aspect of career readiness that has to do with the theoretical or practical understanding of a subject matter. It is the information, skills and facts gained through experience and education.

Other skills that are acquired in the process of career readiness are communication skills, human relation skills, critical thinking skills etc.

5 0

3 years ago

Can someone explain what bitcoin is? i don't get it is it illegal? how does it work?

enot [183]

Answer:

Bt Bicoins este o moneda virtuala care valorează extrem de mult, nu, nu este ilegal sa ai un bit coin

4 0

3 years ago

Read 2 more answers