When identical units of an item are purchased at different costs: <span>an inventory cost flow method must be used under both a perpetual and a periodic inventory system.
A perpetual inventory system will update your inventory on hand after each sale or purchase of inventory is made. A periodic inventory system is updated periodically, meaning, a company will give a time period they would like their sales and purchases to update in and the system will perform that. Both systems are great for a business but it's their option of how they are generated.
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What exactly are debits and credits? In a nutshell, debits (dr) record all money that flows into an account, while credits (cr) record all money that flows out of an account.
Answer:
B. levied on purchases of a particular good or service.
Explanation:
- A sales tax is a tax that is given to the government body and is provided to the production of the particular goods and the services and its a set of the sales.
- The crucial good and services and at the point of the purchase, and is directed by the consumers and is called as used tax. And includes the manufacturer's sales and wholesales tax and gross receipt and exercise tax and values added tax.
Answer: A favorable direct materials quantity variance indicates which of the following? C) The Actual Quantity (AQ) of direct materials used was less than the standard quantity for actual output.
Explanation: The direct materials quantity variance is the difference between the actual quantity at a standard price and the standard cost to make the item. If the materials that were used were less than what was produced, that would be a favorable or good output because money and resources are saved.
Answer:
$23.85 per hours
Explanation:
The labor wage per hour can be calculate by simply dividing minimum monthly income by the least number of total hours that a labor must work. The resultant amount will be hourly wage of an employee.
Mathematically,
Hourly Wage = Minimum Monthly Income / Total Hours Worked
Here
Minimum Monthly Income is $4,089
Total Hours Worked = 40 Hrs per week * 30 days / 7 days
Total Hours Worked = 171.43 Hours
By putting the values, we have:
Hourly Wage = $4,089 / 171.43 Hrs = $23.85 per hours