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2 years ago

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:

Business

1 answer:

vfiekz [6]2 years ago

3 0

Answer:

The following are the answers to the question, using the FASB Acounting Standards Codification at the FASB website:

1. Topic 260, FASB Accounting Standards Codification is the topic number (Topic XXX) that provides the accounting for earnings per share.

2. FASB ASC 260-10-50-1

3. FASB ASC 260-10-50-2

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Marle Construction enters into a contract with a customer to build a warehouse for $950,000 on March 30, 2021, with a performanc

Mandarinka [93]

Answer:

The correct answer is option (B).

Explanation:

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

As probability is not correctly given.

Let probability be:

July 31, 2021 = 65%

August 7, 2021 = 25%

August 14, 2021 = 5%

August 21, 2021 = 5%

So, We can calculate the transaction price by using following formula:

Transaction price = (Amount + Bonus) × Probability

July 31, 2018 = ($950,000 + $50,000) × 65% = $650,000

August 7, 2018 = ($950,000 + $40,000) × 25% = $247,500

August 14, 2018 = ($950,000 + $30,000) × 5% = $49,000

August 21, 2018 = ($950,000 + $20,000) × 5% = $48,500

So, Total transaction price = $650,000 + $247,500 + $49,000 + $48,500

= $995,000

5 0

3 years ago

Zhang Industries budgets production of 400 units in June and 410 units in July. Each finished unit requires 5 pounds of raw mate

Vika [28.1K]

Answer:

The correct answer is $12,060.

Explanation:

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

Production in June = 400 units

Production in July = 410 units

Each unit required = 5 pounds

Cost per pound = $6

So, June required raw material = 400 units × 5 pounds = 2000 pounds

For July required raw material = 410 units × 5 pounds × 20% = 410 pounds

So, required total raw material for June = 2000 pounds + 410 pounds - 400 pounds ( already in inventory)

= 2010 pounds

So, the total cost required for raw material in June = 2010 pounds × $6

= $12,060

Hence, the budgeted cost of purchases for raw material K for June is $12,060.

7 0

3 years ago

Among the guiding principles of six sigma are:

Rudik [331]

Answer:

E. I, II, and IV only

Explanation:

Six sigma is a management technique that involves measuring the number of defective products resulting from production activities, and carefully undergoing certain processes to reduce these defects and improve quality.

The DMAIC cycle is an important process when using the six sigma technique. It involves;

• Defining the goals and objectives to be achieved and problems to be fixed.

• Measuring the production process to see how it currently performs and gathering data on defective products.

• Analysing the processes to find root causes of problems and possible causes of defects.

• Improving the process by implementing carefully formed plans which will help reduce defects.

• Controlling how the new processes are implemented to yield and sustain favorable results and deliver value to customers.

Six sigma aims to remove variations from business processes to reduce product defects and improve quality.

8 0

3 years ago

Consider Country (Z) with a GDP level of 210,000 and a growth rate of 5% in 2019 (i.e. calculated at the end of year 2019). The

Natasha2012 [34]

Answer:

Please help me, l can not answer it

Explanation:

4 0

3 years ago

Consider the following statements, and indicate which variable is an independent variable and which variable is a dependent vari

Kobotan [32]

Answer and Explanation:

A. When the employees are more educated and have the higher income as compared with the less educated employees so here education would be indepedent variable and the income is dependent variable. Also the relationship between these two variables i.e. education and income is positive

Therefore the same is relevant

8 0

3 years ago