1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lianna [129]
2 years ago
14

ABC Corporation owns 75 percent of XYZ Company's voting shares. During 20X8, ABC produced 50,000 chairs at a cost of $79 each an

d sold 35,000 chairs to XYZ for $90 each. XYZ sold 18,000 of the chairs to unaffiliated companies for $117 each prior to December 31, 20X8, and sold the remainder in early 20X9 to unaffiliated companies for $130 each. Both companies use perpetual inventory systems. Based on the information given above, what amount of cost of goods sold did ABC record in 20X8 prior to consolidation
Business
1 answer:
Alika [10]2 years ago
5 0

Answer:

$2,765,000

Explanation:

Calculation to determine what amount of cost of goods sold did ABC record in 20X8 prior to consolidation

Cost of goods sold= $79 each* 35,000

Cost of goods sold=$2,765,000

Therefore the amount of cost of goods sold that ABC record in 20X8 prior to consolidation is $2,765,000

You might be interested in
Strategic controls are largely subjective criteria intended to verify that the firm is using appropriate strategies for the cond
ValentinkaMS [17]

Answer:

A. True

Explanation:

In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan. The components of a business strategy includes the following;

I. Value.

II. Vision.

III. Mission.

Basically, strategic controls are subjective criteria that are developed by a business firm so as to verify and ensure that the business firm has implemented the appropriate strategies for the conditions in the external environment and the competitive advantages of the business firm.

6 0
3 years ago
Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it. Leslie buys the stereo,
Gemiola [76]

Answer:

Yes, because the statement was false.

Explanation:

Breach of warranty is defined as a misrepresentation of the quality or type of a product. The seller fails to fulfil a promise or claim made during a transaction.

When a good is being sold there are certain assertions which the seller must stand behind.

In this scenario Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it.

The fact that the stereo did not have quadrophinic speakers should have been discovered and stated by Mark. The misinformation he got when buying the stereo does not clear him of breach of warranty

6 0
3 years ago
Procter & gamble is well known for its use of __________ branding because every product in p&g's portfolio has a differe
taurus [48]

Answer:

Individual branding

Explanation:

Procter & gamble is well known for its use of individual branding because every product in p&g's portfolio has a different brand name.

Individual branding can be defined as a market strategy in which every products sold by a firm has its own unique brand name. Individual branding can also be called "multibranding", "individual product branding", and "flanker brand".

Firms utilizes individual branding strategy in order to target different market segment. Individual branding helps to protect the other products produced by a company if one of them fails.

Each brand produced has a unique identity and name even though they are produced by the same firm. This allows the firm to to separate the image and reputation of each product and fix a different price for each product.

8 0
3 years ago
Why should management increase with the size of the company?
Evgen [1.6K]

Answer:B. So that the growth can be carefully monitored and managed

Explanation: Management is an act of planing,coordinating and the executing responsibilities in order to improve efficiency.

When a company grows the number of managers are expected to increase so that the activities of the organization is effectively coordinated,growth can be properly and efficiently monitored and managed.

If growth is not efficiently monitored and managed it will hinder the overall performance of the organization.

6 0
3 years ago
Which of the following is not a basic principle of the COSO ERM framework?
Gnom [1K]

Answer:

The correct answer is letter "B": Companies are formed to create value for society.

Explanation:

The Committee of Sponsoring Organizations (<em>COSO</em>) is an international acknowledgment organism where basic risk regulating frameworks and accomplishment in organizational internal control matters are established. When it comes to Enterprise Risk Management (<em>ERM</em>) the committee proposes key principles and concepts for clear guidance.

Creating value for society is not included in one of the core objectives of the COSO ERM.

8 0
3 years ago
Other questions:
  • The oldest retail setting, located in the community's downtown area, is referred to as
    7·1 answer
  • A monopolistically competitive firm is operating in the short run at the optimal level of output and is earning negative economi
    12·1 answer
  • Galaxy Co. distributes wireless routers to Internet service providers. Galaxy procures each router for $75 from its supplier and
    12·1 answer
  • Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $24,200
    14·1 answer
  • Which of the following techniques will help the writer of an advertisement
    12·1 answer
  • Jenna has been working at Firenzi Entertainment Group for the past 3 years as a location scout. One of Jenna's chief responsibil
    6·1 answer
  • Please choose A, B, C, or D
    7·2 answers
  • Why did the Confederation Congress have trouble meeting its financial obligations needed to fund government business
    5·1 answer
  • Which of these social sciences deals most with models of behavior rather than with thought processes?
    6·1 answer
  • a company that reports a significant negative cash flow from investing activities due to the purchase of a building will most li
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!