1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dsp73
3 years ago
10

Product costs are always expensed in the period when they are incurred. (2pts) true false

Business
1 answer:
grigory [225]3 years ago
6 0
This is going to be false
You might be interested in
To be useful for decision making, information should possess the fundamental qualities of relevance and.
Nitella [24]

To be useful for decision making, information should possess the fundamental qualities of relevance and  <u>Faithful representation</u>.

<h3>What is  faithful representation?</h3>

Faithful representation can be defined as the financial accounting concept that stated a company financial position which they present should be correct with what the company has as their financial statement.

It is paramount that a company a financial statement is accurate  to what they present in the financial statement  and  should not be compromise.

Therefore To be useful for decision making, information should possess the fundamental qualities of relevance and  <u>Faithful representation</u>.

Learn more about  Faithful representation here:brainly.com/question/14506917

#SPJ1

7 0
1 year ago
Harrison Enterprises currently produces 8,000 units of part B13. Current unit costs for part B13 are as follows: Direct material
Yakvenalex [24]

Answer:

It is cheaper to make the part in house.

Explanation:

Giving the following information:

Harrison Enterprises currently produces 8,000 units of part B13.

Current unit costs for part B13 are as follows:

Direct materials $12

Direct labor 9

Factory rent 7

Administrative costs 10

General factory overhead (allocated) 7

Total $45

If Harrison decides to buy part B13, 50% of the administrative costs would be avoided.

To calculate whether it is better to make the par in-house or buy, we need to determine which costs are unavoidable.

Unavoidable costs:

Factory rent= 7

Administrative costs= 5

General factory overhead= 7

Total= 17

Now, we can calculate the unitary cost of making the product in-house:

Unitary cost= direct material + direct labor + avoidable administrative costs

Unitary cost= 7 + 5 + 5= $17

It is cheaper to make the part in house.

3 0
3 years ago
Presented below is information related to Splish Company. Cost Retail Beginning inventory $362,797 $286,000 Purchases 1,370,000
KiRa [710]

Answer:

$200,455

Explanation:

For calculating the inventory by the conventional retail inventory method. we required to do the following computations which are shown below:

Using cost method

Goods available for sale:

= Beginning inventory + Purchases

= $362,797 + $1,370,000

= $1,732,797

Using retail method

Goods available for sale:

= Beginning inventory + Purchases  + Net markups - Net markdowns

= $286,000 + $2,145,000 + $80,300 - $27,800

= $2,483,500

Now

Cost to retail ratio = $1,732,797 ÷ ($286,000 + $2,145,000 + $80,300)

                             = $1,732,797 ÷ $2,511,300

                             = 0.69

Now

Estimated ending inventory at retail

= Goods available for sale under Retail method - Sales revenue

= $2,483,500 - $2,193,000

= $290,500

So,

Estimated ending inventory at cost:

= Estimated ending inventory at retail × Cost to retail ratio

= $290,500 × 0.69

= $200,455

5 0
3 years ago
A city receives notice of a S150,000 grant from the state to purchase vans to transport challenged individuals. Although the cit
mestny [16]

Answer:

d.$150,000

Explanation:

The grant is given for purchase of vans for challenged individuals. It means grant is given subject to purchase of vans.

As the vans have been purchased, therefore whole amount is recognized as accrued revenue as it is probable that amount will be received and amount of revenue is also certain/determinable.

5 0
2 years ago
It costs Bonita Industries $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A f
LenKa [72]

Answer:

Effect on income= $6,200 increase

Explanation:

<u>Because it is a special offer, and there is unused capacity, we will not take into account the fixed costs:</u>

<u />

Total unitary variable cost= 12 + 1= $13

Selling price per unit= $15

<u>To calculate the effect on income, we need to use the following formula:</u>

<u></u>

Effect on income= number of units*unitary contribution margin

Effect on income= 3,100*(15 - 13)

Effect on income= $6,200 increase

5 0
3 years ago
Other questions:
  • In PowerPoint, where do you enter data for a chart?
    11·2 answers
  • Automation of a process activity consists of moving work from the ________ of the symmetrical five-component framework.
    12·1 answer
  • Which of the following statements is TRUE of employee empowerment? Question 11 options: Jobs must be designed to give employees
    15·1 answer
  • Best’s Fried Chicken just took out an interest-only loan of $50,000 for three years with an interest rate of 8.15 percent. Payme
    13·1 answer
  • Paolucci Corporation's relevant range of activity is 8,400 units to 17,000 units. When it produces and sells 12,700 units, its a
    9·1 answer
  • Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par f
    7·1 answer
  • Cash is an _____.
    9·1 answer
  • Jane Smith, MD, has had a great year in her pediatrics practice and has cash that she wants to invest. Her financial adviser sug
    6·1 answer
  • _______________operate as for-profit or not-for-profit organizations that facilitate, promote, or encourage B2B relationships be
    5·1 answer
  • If there is a recession, graduates will find it more difficult to find a job because?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!