Answer:
Crane Company
If Crane Company uses LIFO, the value of the ending inventory is:
= $440.
Explanation:
a) Data and Calculations:
Units Unit Cost Total Cost
1/1/20 inventory 150 $4.00 $600
1/15/20 Purchase, 70 5.10 357
1/28/20 Purchase, 70 5.30 371
Total 240 $1,328
1/31/20 inventory 110 $4.00 $440 ($4.00 * 110)
b) The LIFO method assumes that goods that are sold first are the last that were purchased. Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased. In our case, the cost per unit was based on the beginning inventory balance.
Based on the BB10 smartphone being written down by $1,700,000, the journal entry would involve debiting Cost of goods sold and crediting Inventory.
<h3>Why would the above be done?</h3>
The question seeks the journal entry of the above write down. The inventory will be written down by $1,700,000 and this will be charged to the Cost of goods sold.
The journal entry is:
Date Account title Debit Credit
2014 Cost of goods sold $1,700,000
Inventory $1,700,000
Find out more on writing down inventory at brainly.com/question/5771882.
Answer:
D. Predictive Analytics
Explanation:
Predictive analytics is a data mining technique that involves the use of old previous information in the prediction of future activities. It is the use of statistical data and algorithms in determining the likelihood that a future event will occur based on the historical facts found in the statistical data. It is used in identifying patterns and predicting future outcomes and trends based on those identified patterns. An example of this is a forecast that helps police in predicting areas most likely that crime will occur.
Answer:
The predetermined overhead rate based on machine hours is $62
Explanation:
We will distribute the expected overhead cost over the costdriver. In this case, machine hours.
15,500,000/250,000 = 62
each machine hour carries 62 dollars of overhead.
The actual machine hours are used to determinate the applied overhead. While the actual cost it is compared with the applied to look for underapplication or overapplication.
Answer:
contingent repayment plan
Explanation:
Are there othr options?
It is based on the borrower's income and the total amount of debt. Monthly payments are adjusted each year as the borrower's income changes
