LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.
<h3>What is LIFO?</h3>
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).
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By dropping production costs, subsidies aid domestic manufacturers strive in contrast to foreign imports and attainment export markets. Subsidies proceeds many forms as well as cash grants, low interest loans, tax breaks and government equity contribution in domestic companies. Government subsidies should be paid for or usually by taxing people and businesses. The biggest protectors of the agricultural subsidies are the industrialized nations of the world and the consequence of subsidies is subsidies protect inefficient domestic producers. Conferring to the strategic trade policy, subsidies can assist a company to attain a first mover benefit in an developing industry. Non-tariff obstructions which comprise of subsidies, quotas, voluntary export restraints and anti dumping duties.
Answer:
Hi,
The correct answer option is B. Both chefs are correct
Explanation:
Roux is a mixture of fat and flour for making sauces.The purpose of roux is to form a base for the sauce and soup by thickening the sauce.Butter is commonly used for making roux.Veloute,a common cuisine is thickened with roux. Bisque is a soup made of pureed shellfish.Rice is used to thicken Bisque.This soup is smooth, creamy and seasoned.
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Answer:
$0.5
Explanation:
A plant's fixed total overhead cost is $500,000 for a year
400,000 widgets are required to be produced for this period
All processes require a 40,000 machine hours and the widgets use 16,000 hours out of the total hours
The first step is to calculate the fixed overhead application rate
= $500,000/40,000
= $12.5 machine-hour
The fixed overhead that is applied to the widgets can be calculated as follows
= $12.5 × 16,000
= $200,000
Therefore, the fixed overhead that is applied to each of the widgets produced can be calculated as follows
= 200,000/400,000
= $0.5
Hence the fixed overhead that is applicable to each widgets is $0.5
Answer:
It is "following an expansionary monetary policy".
Explanation:
When the central bank uses expansionary monetary policy, money supply increases and the interest rates decreases, this will lead to no change in aggregate demand. It also affects the value of the currency and that is lowering its value but there is improvement in growth of domestic economy.
