Answer:
inventory impairment/cost of good sold (p/l) $500
Explanation:
IAS 2 requires that inventory be initially recognized at cost including cost of purchase and other necessary cost incurred in getting the inventory to the location where it becomes available for sale.
Subsequently, the item of inventory is carried at the lower of cost or net realizable value (NRV).
Quantity Unit Cost Unit NRV Lower of cost/NRV Amount
Model A 100 $100 $ 120 $100 $10,000
Model B 50 $50 $ 40 $40 $2,000
Model C 20 $200 $210 $200 $4,000
Adjustment required = 50 ($50 - $40)
=$500
This posted as
Debit inventory impairment/cost of good sold (p/l) $500
Credit Inventory account $500
Answer:
$480,000
Explanation:
The computation of the total manufacturing costs for Job No. 305 is shown below:
= Direct material cost + direct labor cost + manufacturing overhead cost
where,
Direct material cost = $180,000
Direct labor cost is
= $200,000 ÷ 200% × 100%
= $100,000
And, the manufacturing overhead cost is $200,000
So, the total manufacturing overhead is
= $180,000 + $100,000 + $200,000
= $480,000
Answer:
<em>Need for Achievement.</em>
Explanation:
David McClelland and his colleagues developed the Needs / Achievement Motivation Theory theory of McClelland.
The theory suggests that three needs; <em><u>Need for Power, Success and Affiliation</u></em>-affect human actions.
The desire to succeed, to perform in comparison to a set of norms, to strive to achieve greatness is the need for achievement.
A. By eliminating the effects of price increases on GDP growth. Nominal GDP is calculated using the current prices while Real GDP is adjusted for inflation.
The first step ....................................... is to develop and publicize A SOCIAL MEDIA policy.
A social media policy refers to a corporate code of conduct which provides guidelines for the workers of a company who post contents on the internet either in their official or private capacity. It is also called social networking policy.
