Answer:
$20.00 and $32.50
Explanation:
The computation of the ending inventory using the lower of cost or market value which is shown below
For Product 1
Given that
Replacement Cost = $22.50
Net Realizable Value is
= Estimated selling price - Estimated cost to dispose
= $40 - $5
= $35
So, the market value is
= Net Realizable Value - Profit Margin
= $35 - (0.30 × $40)
= $23
As we can see that the cost is $20 and the market value is $23 so the lower value is $20 and the same should be selected
For Product 2
Given that
Replacement Cost = $27
Net Realizable Value is
= Estimated selling price - Estimated cost to dispose
= $65 - $13
= $52
So, the market value is
= Net Realizable Value - Profit Margin
= $52 - (0.30 × $65)
= $32.50
As we can see that the cost is $35 and the market value is $32.5 so the lower value is $32.5 and the same should be selected
Answer:
Contribution margin income statement for the year ended December 31, 2019
Sales (10,000×$175) 1,750,000
Less Variable Costs (10,000×$116) (1,160,000)
Contribution 590,000
Less Fixed Costs (354,000)
Net Income/(loss) 236,000
Explanation:
Variable Costing Income = Contribution - Fixed Costs
Answer:
false
Explanation:
Employment discrimination includes any type of discrimination that occurs during the hiring process, any applicable disciplinary actions and when deciding which employees will be promoted or demoted.
E.g. A company cannot hire employees of only a certain race or sex. If a group of employees has done something improper, they all must be disciplined in the same way regardless of their race, sex, ethnic background, religion, etc. A company cannot promote only a certain type or employees, it must provide equal opportunities to all, the glass ceiling is considered illegal.
Answer:
optimistic call objective.
Explanation:
Salespeople can be defined as a group of individuals or employees who are saddled with the responsibility of taking orders from customers, as well as sales of finished goods and services to consumers or end users.
In sales and marketing, the term closing with respect to a sales can be defined as the process of making a business sale successful such as through the exchange of money for a particular product or goods.
For a salesperson to be able to close a sales, he or she require abilities such as courage, negotiation skills, listening ears and interpersonal skills to do so or achieve a successful sales.
For Norah, setting up a straight rebuy situation with Darby's Diner is her optimistic call objective in this scenario.
Given:
Controllable margin = 60,000
sales = 400,000
return on investments = 10%
Return on investments = net profit / average operating assets
10% = 60,000 / ave. operating assets.
Average operating assets = 60,000 / 10%
Average operating assets = 600,000
Griffin's average operating assets will be 600,000 when its return on investment is 10%.
