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Triss [41]
3 years ago
15

The LIFO inventory cost flow assumes that the cost of the newest goods purchased are: A. assumed to be the first ones sold. B. a

ssumed to be the first ones included ending inventory. C. not included in cost of goods sold or ending inventory. D. assumed to be the last ones to be sold.
Business
1 answer:
Nonamiya [84]3 years ago
6 0

Answer: A. assumed to be the first ones sold.

Explanation:

Last in, first out is a method that's used in inventory such that the items that are produced recently will be the ones that will be sold first.

Using this method means that the goods recently produced or bought will be the first to be sold and recorded as cost of goods sold. This therefore means that the report on the inventory will be the lower cost of the old products.

Therefore, the LIFO inventory cost flow assumes that the cost of the newest goods purchased are assumed to be the first ones sold.

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What is the primary purpose of job specialization A. Regional self-sufficiency B. Increased consumer income C. Increased margina
marishachu [46]

Answer:

D. Increased efficiency and productivity

Explanation:

Job specialization can be defined as a strategic process which typically involves the ability of employees working in an organization to develop specific skills, knowledge, great expertise or professionalism and experience to perform their duties, tasks or job functions effectively and efficiently.

In order to gain the requisite skills, expertise and knowledge for job specialization, it is very important for the employees to have undergone an extensive training and a good number of years in work experience.

The primary purpose of job specialization is to increase efficiency and productivity because the employees are able to specialize in the use of specific tools (equipments) to accomplish their tasks, as well as limit the level of error or mistakes in the production process.

6 0
3 years ago
The SOC categorizes occupations according to _____.
Solnce55 [7]

similar occupations in different industries require similar skills.

Hope it helps


3 0
3 years ago
Kat is willing to pay $900 for 25 bottles of grape wine. The market price of 15 boties of grape wine is $390. Because of an incr
Doss [256]

Answer:

Answer explained below

Explanation:

decrease in consumer surplus = 0.5(initial number of bottles - final number)*(final price-initial price) + (final price-initial price)*(final number)

where initial number of bottles = 25

final number of bottles = 15

initial price = $390

final price = $390

substituting these values, we have

- decrease in consumer surplus = 0.5(25-15)(450-390) + (450-390)15 = 1200

Consumer surplus decreases by 1200

- Consumers will buy the good as long as marginal benefit is greater than or equal price.

Thus quantity demanded will be 2 from the table

Consumer surplus = 240- market price = 240 -220= 20

Consumers total benefit = 220*quantity demanded = 220*2= 440

5 0
3 years ago
The school of philosophy that acknowledged the gods but taught that they had no influence on human life and that the principle g
NNADVOKAT [17]

Answer:

The correct answer is letter "B": Epicurus.

Explanation:

Greek philosopher Epicurus (341 b.C. - 270 a.C.) was immortalized in the Latin poem "<em>On the nature of things</em>" -Lucrecio- in which Epicurus is attributed that the object of wisdom is to suppress the obstacles that oppose to happiness. This does not imply the pursue of unbridled pleasure, but of a measured lifestyle in which the spirit can enjoy friendship and the cultivation of knowledge.

5 0
2 years ago
A truck acquired at a cost of $80,000 has an estimated residual value of $8,000, has an estimated useful life of 200,000 miles,
laila [671]

Answer:

a. The depreciable cost is $72000.

b. The depreciation rate is $0.36 per mile.

c. The depreciation expense for the year is $6480.

Explanation:

a.

The depreciable cost is the cost that is eligible for depreciation. It is calculated by deducting the residual value from the cost of the asset.

Depreciable cost = Cost - residual value

Depreciable cost = 80000 - 8000 = $72000

b.

The depreciation rate can be calculated by dividing the depreciable cost by the total estimated useful life of the asset.

The depreciable rate = 72000 / 200000 = $0.36 per mile driven

c.

The units of activity depreciation for the year is,

Depreciation expense = 0.36 * 18000 = $6480

6 0
2 years ago
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