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3 years ago

When a company prepares financial statements using standard costing, which items are reported at standard cost

Business

1 answer:

Dmitrij [34]3 years ago

7 0

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

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4 years ago

An electronics manufacturer in Norway has developed a training program to train its support staff in foreign markets on the repa

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3 years ago

A 4-year project has an annual operating cash flow of $47,000. At the beginning of the project, $3,800 in net working capital wa

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Answer:

$55,826

Explanation:

The computation of year 4 cash flow is shown below:

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= $55,826

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3 years ago

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3 years ago

Read 2 more answers

The U.S. Rice Millers’ Association claims that if the Japanese rice market were opened to imports by lowering tariffs, the resul

noname [10]

Answer: Protectionism

Explanation:

Protectionism occurs when the industries in a particular country are being protected from foreign competition by the government of that economy. Protectionism is done through the imposition of tariffs, quotas or total ban on the products of other countries.

In the question, the tariff on rice is an example of protectionism as the tariff will lead to an increase in the price of the foreign rice and the people will have to buy from the local rice suppliers. In this case, the local industry is protected.

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3 years ago