Answer:
$1,150
Explanation:
Given the above information, the value of the inventory method on June 30, using LIFO method would be calculated as;
= $828 + [ ($1,288 ÷ 184) × (184 - 138) ]
= $828 + (7 × 46)
= $829 + $322
= $1,150
Therefore, the ending inventory on June 30, using LIFO method is $1,150
Answer:
The market value of this firm is $980,744
Explanation:
The computation of the market value is shown below:
= Current value of building + current value of building + market value of inventory + accounts receivable + cash balance - owing balance
= $1,480,000 + $507,000 + $225,000 ($450,000 × 50%) + $237,844 ($245,200 × 98%) + $10,900 - $1,480,000
= $980,744
We take the market value instead cost value, as question has asked for the market value of the firm
Answer:
a. under applied.
Explanation:
For computing, whether it is under applied or over applied first, we have to compute the predetermined overhead rate. The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
Now we have to find the applied overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
So, the ending overhead equals to
= Actual manufacturing overhead - applied overhead
= under-applied
If actual overhead is more than the applied overhead
Answer:
The answer is D ( It forces lenders to disclose all charges to the borrower.)
Answer:
D. ceteris paribus condition
Explanation:
The Latin words “Ceteris paribus”, means “all other things remain the same”. It is an assumption usually included when by economists when stating laws or concepts such as demand and supply. Because, actually in the real word, it is feasible to eliminate other variables that might influence an outcome, aside the variables under study. So therefore, we assume all other variables remain constant, when stating the relationship between two variables. For example, when constructing a demand curve showing the relationship between price and quantity demanded, we assume that all other variables that can influence demand other than price, remain the same, which in reality might be difficult to isolate.
