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2 years ago

Ceilings are thought to represent the level at which more difficult questions would not be passed.

1 answer:

4 0

Ceilings are thought to represent the level at which more difficult questions would not be passed is true since ceilings really do represent the level at which more difficult questions would not be passed.

If you have any other questions, please don’t hesitate to ask me.

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Jim agrees orally with West Bank to guarantee a loan that West Bank will make to Susan to purchase an existing restaurant upon S

andrew-mc [135]

Answer: false

Explanation:

The statute of frauds requires some specific contracts types to be executed in writing. According to the statute, the contracts covered include agreements that involve goods worth over $500,

contracts for land sale, and also contracts that last for either one year or more.

Based on the scenario above, it is false as Jim's guaranty agreement with West Bank is enforceable under the Statute of Frauds

5 0

2 years ago

Changes in accounting estimates are: Multiple Choice Extraordinary items. Accounted for with a cumulative "catch-up" adjustment.

Tom [10]

Answer:

The answer is D. Accounted for in current and future periods.

Explanation:

A change in accounting estimate is an adjustment of the carrying value of an asset or liability arising from reassessing the expected future economic benefits and obligations associated with that asset or liability.

Changes in accounting estimates must be shown in the accounting period in which the estimates are revised and periods after i.e accounted for prospectively. Example is a change in useful life and salvage value of a fixed asset

4 0

2 years ago

A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12

aleksley [76]

Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$

EOQ = $\sqrt{\frac{2 \times 2000 \times 12}{3.6}}$

= 115.47

The expected number of orders = $\frac{\text{demand}}{EOQ}$

$=\frac{2000}{115.47}$

= 17.32

The daily demand = demand / number of working days

$=\frac{2000}{240}$

= 8.33

The time between the orders = EOQ / daily demand

$=\frac{115.47}{8.33}$

= 13.86 days

ROP = ( Daily demand x lead time ) + safety stock

$=(8.33 \times 8)+10$

= 76.64

The annual holding cost = $\frac{EOQ}{2} \times \text{holding cost}$

$=\frac{115.47}{2} \times 3.6$

= 207.85

The annual ordering cost = $\frac{\text{demand}}{EOQ} \times \text{ordering cost}$

$=\frac{2000}{115.47} \times 12$

= 207.85

So the total inventory cost = annual holding cost + annual ordering cost

= 207.85 + 207.85

= 415.7

6 0

2 years ago

The Tree Company provides the following standard cost data per unit of product: Variable overhead $ 8.00 Tree Co. anticipated th

olya-2409 [2.1K]

Answer:

Flexible budget variance= $10,000 unfavorable

Explanation:

Giving the following information:

Standard Variable overhead= $8.00 per unit

During the period, the company produced and sold 25,000 units, incurring $210,000 of variable overhead costs.

First, we need to calculate the standard variable overhead cost:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 8*25,000

Allocated MOH= $200,000

Now, the flexible budget variance:

Flexible budget variance= allocated overhead - actual overhead

Flexible budget variance= 200,000 - 210,000

Flexible budget variance= $10,000 unfavorable

5 0

2 years ago

A college textbook is selling for (US) $140 in the United States. That same textbook sells in Canada for (CA) $150. The exchan

dlinn [17]

Answer:

(US)$136,36

(CA)$154

Explanation:

Hi, to answer the first question we have to divide the price of the textbook in Canada $150(CA) by $1.10.( since (CA) $1.10 = (US) $1.00.)

U.S. price of the textbook purchased in Canada: 150/1.10 = (US)$136,36

Canadian price of the textbook purchased in the U.S: $140 x 1.10 = (CA)$154

Taking shipping costs into account, (US) $5.00 if we purchase the book in the U.S. and sold in it Canada, it will cost:

$154(CA) + (5(US) X 1.10 ) = 154 (CA) +5.5 (CA)= $159.5(CA)

The textbooks are likely to be purchased in Canada directly, because they are cheaper ( $159.5(CA) >$150(CA))

Taking shipping costs into account, if we purchase the book in the Canada and sold in it the US, it will cost:

$136 + $5 = $141

The textbooks are likely to be purchased in the USA directly, because they are cheaper ( $141(US) >$140(US))

8 0

2 years ago