Answer:
The correct answer is the option A: True.
Explanation:
To begin with, the contracts inside the law are regulated by the Anglo-America common law that defines a contract as the agreement between two or more parties in which they establish the basis and principles of the agreement and the clauses that could cause to end the contract. Moreover, a contract is also part of the civil law and therefore that it does not implicate the public as a whole in any way due to the fact that in order to be a correct contract the parties must accept the bond between only them and nobody else.
Answer:
Sales quantity factor = - $600,000
Unit price factor = $760,000
Explanation:
sales quantity factor is the effect of change in number of units sold with respect to the budgeted price or planned price.
Unit price factor is the change in price per unit with respect to the actual number of units sold.
Unit price factor $(220-200)×38,000 = $760,000
Sales quantity factor (38,000 - 41,000) × $200 = -$600,000
Kindly see attached picture
Answer:
WA 1,682
LIFO 910
FIFO 2,260
Explanation:
![\left[\begin{array}{cccc}Date&Cost&Units&Subtotal\\$Jan 20th&8&400&3200\\$April 21th&10&200&2000\\$July 25th&13&280&3640\\$Sept 19th&15&90&1350\\$Total&10.51&970&10190\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7DDate%26Cost%26Units%26Subtotal%5C%5C%24Jan%2020th%268%26400%263200%5C%5C%24April%2021th%2610%26200%262000%5C%5C%24July%2025th%2613%26280%263640%5C%5C%24Sept%2019th%2615%2690%261350%5C%5C%24Total%2610.51%26970%2610190%5C%5C%5Cend%7Barray%7D%5Cright%5D)
We add the units purchase and the subtotal to get the total units available for sale.
Ending inventory physical units: 970 - 810 = 160 units
<u>Then, we calculate for each method:</u>
Weighted average:
cost of goods / available units = 10,190 / 970 = 10.51
160 units x 10.51 = 1,681.6
LIFO:
Ending inventory will be the oldest units:
160 units x 8 = 960
FIFO:
Ending inventory will be the newest units as the units are sold as soon as they come in
90 x 15 = 1,350
70 x 13 = 910
Total 2,260
This is perceived value, making the check ups free increases the value.
Answer:
The correct answer is option b) $367,000
Explanation:
Here for calculating the correct amount of inventory that Horace should report can be calculated through, by adding the inventory worth $320,000 at 31 December, 2015 with consignment given to Herschel worth $47,000, SO
Correct amount of inventory =
Amount of inventory on 31 December
+
Consignment given to Herschel
= $320,000 + $47,000
= $367,000
Here we are taking Herschel consignment in to account and that too at the historical purchase cost because Horace company has give the Herschel to sell the goods on his behalf but the transfer of ownership has not taken place here , the right to ownership here remains with the Horace and the amount at which they should be recorded is at purchase cost not selling cost.
We will also not include goods worth $ 22,000 in to the calculation because the Horace company has not received the goods physically yet, we will include those goods in to inventory on January 3 not before that.
