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user100 [1]
3 years ago
15

The existence of ending Work In Process Inventory necessitates the use of the 5minusstep process costing procedure. true or fals

e
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
8 0

Answer:

The statement is: True.

Explanation:

The Work In Progress (WIP) Inventory represents the sources needed during the production of a good. While calculating costs for those sources it is necessary to follow the 5-steps of process costing which are the following:

<em>1)</em><em>  Determine the flow of units generated. </em>

<em>2)</em><em> Adjust the inventory to calculate the equivalent units. </em>

<em>3)</em><em> Identify the total cost. </em>

<em>4)</em><em> Calculate the average cost per equivalent unit. </em>

<em>5)</em><em> Record these costs to finished units and Work in Process units.</em>

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Canada, Australia, & South Africa are all of the countries that use tax brackets as part of their tax system
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3 years ago
A student looking at the timeline for a student loan on page 60 of the text makes the following​ observation: The text states th
Brrunno [24]

Answer: A. incorrect because part of each payment is to principal and to interest.​ Therefore, only a portion of the payment goes to​ interest, so the full amount should not be included when computing the rate of interest paid.

Explanation:

When paying back a loan, there are two components to the periodic interest payment. The first component is the interest payment. This is the payment to compensate the borrower for loaning out the money and is based on the interest rate and the principal left to be repaid.

The second component goes towards repaying the principal of the loan which in this case is $10,000. When computing the periodic interest rate therefore, the entire amount paid per period should not be used as it would inflate the interest rate.

6 0
3 years ago
Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Comet redeems 50 of Pam's
lesantik [10]

Answer:

Total E&P = $ 160000

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Reduction of E& P due to exchange = Total E&P*Total voting Right Sold

Reduction of E& P due to exchange = 160000*25%

Reduction of E& P due to exchange = 40000

Reduction of E& P Lower of Total E&P*Total voting Right Sold or Amount realised

Reduction of E& P Lower of 40000 or (50*1000)

Reduction of E& P Lower of 40000 or 50000

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7 0
3 years ago
Brittany has the right when her child is born to take one full year of leave with two-thirds of her pay, and there is substantia
Mrrafil [7]
It is likely that Brittany lives in SWEDEN, DENMARK OR NORWAY. These three countries have generous offers for pregnant women and new parents. Their system is generally flexible and new moms can decide to go for long periods with shorter pay or shorter periods with full pay depending on individual choice and their family circumstances.
3 0
2 years ago
National Bank quotes the following for the British pound and the New Zealand dollar: Quoted Bid Price Quoted Ask Price Value of
Snowcat [4.5K]

Answer:

$15.43

Explanation:

Following actions are required for triangular arbitrage:

Available: $ 10,000

Buy sterling pound @ 1 $ = 1.62 pounds and receive pounds 6172.84 upon conversion.

Now, sell these pounds and purchase NZ $ at the rate :

1 pound = NZ $ 2.95 and receive NZ$ 18209.87

Now, reconvert the above proceeds into US $ at the rate

1 NZ $ = $0.55 i.e sell NZ $ at this rate and receive US $ 10,015.4285

Hence profit from implementing triangular arbitrage is $10,015.43 - $10,000

= $15.43

Arbitrage refers to the prospect of earning a profit by utilizing the mispricing in two different financial markets. An arbitrageur never uses his own funds and always borrows.

Arbitrage works only in the scenario wherein the interest rate purchase parity (IRPT) does not hold good.

The strategy of arbitrage is best explained as "Buy at low price and sell at a high price".

 

7 0
3 years ago
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