Answer:
The transfer price is $540
Explanation:
Since the transfer pricing policy of Burt stipulates that transfers should be made at full cost and the full cost is $540, thus, the transfer price is $540.
Answer: whether customers of the product would switch to other substitute products marketed by the same firm.
Explanation:
Customers regular move from one good to another or from one good to it's substitutes in a process called Customer Migration.
There are various reasons for this such as affordability, change in technology, trends and the like.
When a company contemplates ending a product line and decides to study customer migration patterns, they are checking to see what the customer will switch to when the product is deleted. If they make substitutes to the product to be deleted, they will be checking to see if the customers will switch to these substitutes if the product line is ended.
The correct answer is B: False
Further Explanation:
The above listed accounting for contingent liabilities are all incorrect.
The correct three categories that are used for accounting for contingent liabilities covers are;
- probable
- possible
- remote
The three possibilities for accounting for contingent liabilities coverage are;
- a liability that may possibly occur in the future, such as a warranty or court dispute.
- If (liabilities) are likely to happen and the cost can be estimated, it should be recorded with the accounting department.
- All contingent liabilities must be recorded within the firm to be accurate and meet government and GAAP requirements.
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Answer:
$1,121.25
Explanation:
The computation of the selling price of the job is shown below:
But before that the total cost need to be determined
Total cost is
= Direct Materials + Direct Labor + Factory overhead
= $355 + ($13 × 20) + ($18 × 20)
= $355 + $260+ $360
= $975
Now Selling price of the job is
= Total cost × (100 + 15%)
= $975 × 115%
= $1,121.25
Answer:
Answer is the FCAC is greater than the TBC.
Refer below.
Explanation:
A second method for determining the forecasted cost at completion assumes that, regardless of the efficiency rate the project or work package has experienced in the past, the work to be performed on the remaining portion of the project or work package will be done according to budget. If the cumulative actual cost is greater than the cumulative earned value, then: FCAC is greater than the TBC.