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
Viefleur [7K]
2 years ago
9

In the cost reconciliation report under the FIFO method, the costs to be accounted for equals the cost of beginning work in proc

ess inventory plus the cost of units transferred out.
a. True
b. False
Business
1 answer:
RSB [31]2 years ago
4 0

Answer:

Cost Reconciliation Report under FIFO Method:

The costs to be accounted for equals the cost of beginning work in process inventory plus the cost of units transferred out.

b. False

Explanation:

Instead, the costs to be accounted for under the FIFO method in the cost reconciliation report are equal to the cost of the beginning work in process inventory plus the cost of units started and completed during the period.  It is under the weighted-average method that the costs to be accounted for in the cost reconciliation report equal the cost of beginning work in process inventory plus the cost of units transferred out.

You might be interested in
Net income equals: Question 2 options: Cash receipts minus cash payments. Assets minus liabilities. Revenues minus cost of goods
Alborosie

Answer:

Revenues minus expenses.

Explanation:

Net income = Revenue -  (cost of goods sold + selling, general and administrative expenses + depreciation + net interest expense + income tax)

Revenues minus cost of goods sold gives gross profit

Assets minus liabilities gives shareholders equity

5 0
3 years ago
Provide an economic argument for why the U.S. is home to 25% of global prisoners.
Rainbow [258]

Answer:

1. High rate of tax payment

2. Stricter Government Policies

3. High rates in crimes, kidnappings and killings

Explanation:

It is evident from statistics that the rate of incarceration in the United States is more than half of most countries in the World. It means that out 716 people out of 100000 people in the world are incarcerated in the United states.This is true due to the following reasons

1. The Economic situation in the states is a bit stricter than anywhere in the world. High taxes on Sole business owners, about 42%. Defaulters are made to face the wrought of the law.

2.

The U.S. criminal justice system has been politicized and more responsive to popular opinion, experts said. The United States also functions as 51 separate countries, because so many of the criminal justice decisions are made at the local and state levels. Legal officers like(Justice, sheriffs, prosecutors, legislators voting on crime laws, have supported the "get tough" policies that makes punishment stricter for offenders.

3. High rates in crime and killings. Crime rates and killings has been on the increase in recent times due to several economic and social factors. children for broken homes are not well brought up to instll moral values that could make them responsible and add value to the society hence they are more prone to social vices

6 0
2 years ago
Explain how and why each of the following factors would influence current aggregate demand in the United States: a. increased fe
sukhopar [10]

The effects of the given factors on current U.S. aggregate demand would be:

  • a. Lower current aggregate demand (AD).
  • b. Higher current AD.
  • c. Higher current AD.
  • d. Higher current AD.
  • e. Lower current AD.

<h3>What affects Aggregate Demand?</h3>

When there is an increased fear of recession, aggregate demand drops as people want to save money for the recession. A higher price level will make things more expensive so AD drops as well.

When there is a fear of inflation, people increase spending so they can buy goods before prices increase.

Real income growth in other countries will lead to higher exports which will increase national wealth and therefore allow consumers to purchase more goods.

An reduction in real interest rates makes loans cheaper to be acquired and spent on consumption.

Find out more on aggregate demand at brainly.com/question/1490249.

#SPJ1

6 0
2 years ago
​O'Mally Department Stores is considering two possible expansion plans. One proposal involves opening 5 stores in Indiana at the
Tatiana [17]

Answer:

3.63yrs

Explanation:

CExplanation: C) Investment / Annual cash flows$2,900,000 / 800,000 = 3.63 yrs

4 0
3 years ago
If total assets are $75000 and total liabilities are $25000 the amount of owner's equity is $25000
zhuklara [117]

Answer:

B.False

75000 - 25000 will = 50000 witch is double then 25000

7 0
2 years ago
Read 2 more answers
Other questions:
  • Les' Motors has sales of $482,800, cost of goods sold of $297,400, inventory of $169,600, and accounts receivable of $52,900. Ho
    5·2 answers
  • Under a fixed exchange rate system, the government bears the responsibility to ensure that the BOP is near zero. If the sum of t
    9·1 answer
  • Jessica has $10. a certain pencil cost 70 cents each. Jessica wants to buy those pencils as many as she can. how many such penci
    13·1 answer
  • Before setting your prices, it's wise to A. subtract your profit margin from your costs. B. research industry standards. C. memo
    8·2 answers
  • Spears Co. had net sales of $35,400 million. Its average total assets for the period were $14,700 million. Spears' total asset t
    6·2 answers
  • Services can be______because the real people who provide them may vary in their abilities and motivations, or even their moods,
    15·1 answer
  • A nonbottleneck worker currently has an idle time of 20 seconds per unit. Because of the large demand, the company improves the
    10·1 answer
  • Which of the following statements is correct?a. The role of Finance is to use the numbers developed through accounting to aid in
    8·1 answer
  • He commenced business with Rs 60000 cash and goods worth Rs 20000 .(Journal entries) ​
    8·1 answer
  • In the second step of the stakeholder impact analysis, managers need to identify and understand stakeholders' ______
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!