<u>Full question:</u>
Angela is part of the senior management of Fifian Inc., an event management company. She along with other members of the senior management plans the annual budget of the company. Angela, however, is not required to take inputs from or involve the middle and supervisory managers of the company in this planning process. In the given scenario, Fifian Inc. most likely uses _____.
A. top-down budgeting
B. incremental budgeting
C. bottom-up budgeting
D. zero-based budgeting
<u>Answer:</u>
In the given scenario, Fifian Inc. most likely uses top-down budgeting
<u>Explanation:</u>
Top-down budgeting relates to a budgeting system where senior management equips a high-level estimate for the company. Through top-down budgeting, the company’s administration views prior practices and contemporary market circumstances.
Customarily, department directors and lower-level staff do not partake in the meetings but may put forward proposals for consideration. Such a kind of budget concentrates on the overall germination of the organization. Since managers are not a member of the budget-making method, they may not perceive much urge to assure their success.
Answer:
gross profit under FIFO = $40,570 - $25,220 = $15,350
gross profit under LIFO = $40,570 - $26,340 = $14,230
gross profit under weighted average = $40,570 - $26,240 = $14,330
gross profit under specific id. = $40,570 - $26,070 = $14,500
Explanation:
sales revenue = (290 x $86.60) + (160 x $96.60) = $40,570
COGS under FIFO:
130 x $51.60 = $6,708
160 x $56.60 = $9,056
80 x $56.60 = $4,528
80 x $61,60 = $4,928
total COGS = $25,220
COGS under LIFO:
240 x $56.60 = $13,584
50 x $51.60 = $2,580
160 x $63.60 = $10,176
total COGS = $26,340
COGS under weighted average:
weighted average = [(130 x $51.60) + (240 x $56.60) + (100 x $61.60) + (180 x $63.60)] / 650 = $58.31
450 x $58.31 = $26,239.50 ≈ $26,240
COGS under specific method:
80 x $51.60 = $4,128
210 x $56.60 = $11,886
60 x $61.60 = $3,696
100 x $63,60 = $6,360
total COGS = $26,070
Answer:
bachelors degree
Explanation:
just answered this on my test and got correct.
Answer and Explanation:
According to the scenario, the explanation of the given situation are as follow:-
1. Ability of Contract : According to the law except of some contract a minor can enter into any contract. Mr. kalen is a seventeen year old minor and he can entered the rent contract because it is not banned by the government for the minor.
2. This is a voidable contract because Mr. Kalen is a minor and he not legally capable to entering in agreement. In voidable contract one party has a right to discontinue the contract it is depends on him that he want to void it or not. If he wants to void it he cannot be bound to go further with this contract. If a minor wants he can rightfully dis-affirm any contract in which he enters.
According to the analysis, under this circumstance, Mr. kalen is not bound to the contract because he is still minor and he shows his disaffirmance of contract by returning the key to landlord. So he is not liable for the balance of the payments due under the lease.
