Answer: The correct answer is "c. The FIFO method computes equivalent units based only on production activity in the current period, ignoring the percentage of completion in beginning Work in Process inventory.".
Explanation: Process Costing is a special accounting method to identify and accumulate direct costs and prorate indirect costs of the same manufacturing process.
The statement "The FIFO method computes equivalent units based only on production activity in the current period, ignoring the percentage of completion in beginning Work in Process inventory." is the most accurate.
All are assumed except <u>A. Total variable costs remain the same over the relevant range.</u>
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Cost-volume-profit analysis examines how changes in cost in volume affect income. Variable costs are ones that go up and down depending on production levels, so it would not make sense to assume that variable costs stayed the same over the relevant range.
Answer:
disruptive
Explanation:
The term that is being described is known as a disruptive innovation. In the context of business theory, this term refers to an innovation that creates an entirely new market and value network which ultimately disrupts the old market and value network, while at the same time taking over market-leading firms, products, and alliances. One example of this are Smartphones which disrupted laptops as the primary way consumers use the internet in today's world.
From year 1 to year 2, the real GDP of the economy increases by 20%.
<h3>What is real GDP?</h3>
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year.
Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation. It reflects the value of goods and services produced in an economy.
<h3>What is the increase in real GDP?</h3>
GDP in year 1 = 10 x $2 = 20
Real GDP in year 2 using year 1 prices as base price = 12 x $2 = $24
Increase in real GDP = (24 / 20) - 1 = 20%
To learn more about GDP, please check: brainly.com/question/15225458
All national banks must be members of the Federal Reserve System, while state banks can join if they wish