Answer:
b) $124
Explanation:
FIFO means first in, first out. Under this principle, goods that were purchased or produced earlier will be the first ones on sale.
The value of the goods sold in our case will be as follows.
The first ten items @ $10: 10X10 =$100
Two items to make [email protected] $12: 2x12=$24
Total cost: $100+$24= $124
C. Accounts Payable
Income tax expense is the amount that your company calculates for taxes, whereas income tax payable is the actual amount calculated by the IRS that the company owes which is recorded as a liability in accounts payable until the tax bill is paid off.
I think it's "<span>hypothecation" but I'm not 100% sure.</span>
Answer:
cost of units completed for Direct material =$152,000
Explanation:
given data
direct materials EUP cost = $4.00
Number of units = 38,000
conversion EUP cost = $2.50
solution
we get here cost of units completed for Direct material that is express as
cost of units completed for Direct material = direct materials EUP cost × Number of units .................1
put here value and we will get
cost of units completed for Direct material = $4 × 38,000
cost of units completed for Direct material =$152,000
