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3 years ago

The inventory costing method that reports the earliest costs in ending inventory is:_______

Business

1 answer:

nikdorinn [45]3 years ago

4 0

Answer:

a. LIFO.

Explanation:

The LIFO method refers to an inventory method that means the item which is last purchased should be sold first during the period of time. So in this inventory method the earliest cost in the closing inventory should be recorded

Therefore the given situation, the correct option is a.

And, the other options are wrong

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If wage increases by 10%, a(n) ________ worker is likely to supply 7% more labor because elasticity of labor supply is assumed t

katovenus [111]

Answer:

adult; inelastic.

Explanation:

Data provided in the question

Increase wage rate percentage is 10%

And, the given supply percentage is 7%

As there is no information given in the question related to the teenager and adult so we assume that the data is given for adult

Since the wage rate is increase by 10% which reflects the adults worker and due to which the supply is 7% more labor. So the elasticity of labor supply is inelastic as the supply is less than the wage rate so it cannot be perfectly elastic

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4 years ago

Mar. 29 Received a $30,000, 60-day, 5% note dated March 29 from Karie Platt on account.

dolphi86 [110]

Answer:

Explanation:

Date Description Post. Ref. Debit Credit Assets Liabilities Equity

1 Mar.29 Notes receivable 30000 30000

2 Accounts receivable-Karie Platt 30000 -30000

3 Apr.30 Notes receivable 24000 24000

4 Accounts receivable-Jon Kelly 24000 -24000

5 May.28 Accounts receivable-Karie Platt 30250 30250

6 Notes receivable 30000 -30000

7 Income Summary ($30000 x 5% x 60/360) 250 250

8 Jun.29 Accounts receivable-Jon Kelly 24320 24320

9 Notes receivable 24000 -24000

10 Income Summary ($24000 x 8% x 60/360) 320 320

11 Aug.26 Cash 30855 30855

12 Accounts receivable-Karie Platt 30250 -30250

13 Income Summary ($30250 x 8% x 90/360) 605 605

14 Oct.22 Allowance for Doubtful Accounts 24320 24320

15 Accounts receivable-Jon Kelly 24320 -24320

163745 163745 1175 0 1175

5 0

4 years ago

BE9.5 (LO 3), AP For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to ma

azamat

Answer:

The correct answer for quarter 1 is $120,000, for quarter 2 is $168,000 and for 6 months is $288,000.

Explanation:

According to the scenario, computation of the given data are as follows:

Direct labor cost for Quarter 1 = Total Required Direct Labor Hours × Direct Labor Wage

Where, Total Required Direct Labor Hours = 5,000 × 1.6 hours = 8,000 hours

So, Direct labor budget for Quarter 1 = 8,000 × $15 = $120,000

Direct labor budget for Quarter 2 = Total Required Direct Labor Hours × Direct Labor Wage

Where, Total Required Direct Labor Hours = 7,000 × 1.6 hours = 11,200 hours

So, Direct labor budget for Quarter 2 = 11,200 × $15 = $168,000

So, Direct labor budget for 6 months = Direct labor budget for Quarter 1 + Direct labor budget for Quarter 2

= $120,000 + $168,000

= $288,000.

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3 years ago

Which amendment to the U.S. Constitution provides the protection of due process of law and protection from having to testify aga

Vedmedyk [2.9K]

the 5th amendment i believe

3 0

3 years ago

Project performance metrics are used to

Aleonysh [2.5K]

The answer is letter C

8 0

3 years ago

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