All categories

2 years ago

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

Business

1 answer:

Dmitrij [34]2 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.

You might be interested in

Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and both states are deciding whether or not to c

ZanzabumX [31]

Answer:

B. Wisconsin gains 200, Illinois gains 300

Explanation:

Assuming that one state cleaning the lake does not interfere with the costs and social benefits of the other state (events are independent), Wisconsin will incur 1,200 in costs and receive 1,100 in benefits from its own cleaning and 300 from Illinois' cleaning. Illinois will incur costs of 900 and receive 600 in benefits from its own cleaning and 400 from Wisconsin's cleaning.

The payoff for each state is:

$W = -1,200+1,100+300\\W=200\\I=-700+600+400\\I=300$

Therefore, Wisconsin gains 200, Illinois gains 300.

3 0

3 years ago

Which of the following scenarios is a circumstance in which it would be ethical to practice confidentiality?

dimulka [17.4K]

C.
It’s personal anything personal goes down the rule of confidentiality

4 0

3 years ago

6.You now have the agreement with the company and will sign the contract as you and the company are satisfied with the contract

Alex_Xolod [135]

A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

7.You and the other party have either come to an agreement on the terms, or one party has decided that the final offer is unacceptable and therefore must be walked away from. Most negotiators assume that if their best offer has been rejected, there’s nothing left to do. You made your best offer and that’s the best you can do. This represent which of the negotiation process element?

A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

8.Assemble the information you’ve gathered in a way that supports your position. You can present facts that show what you will contribute to the organization in the future, which in turn demonstrates your value. This represent which of the negotiation process element?

A- Gather information

B- Manage concessions

C- Manage time

D- Build the relationship

5 0

2 years ago

What element of Pinterest can help potential followers learn more about your product and company?

madreJ [45]

Could the answer be advertisements

5 0

3 years ago

Sheila receives a merit scholarship to cover part of her private college tuition. Her parents have a low income, poor credit, an

vfiekz [6]

Answer:

The correct answer would be D, Sheila's parents will qualify for a Plus loan because of their low income.

Explanation:

PLUS loan stands for Parents Loan for Undergraduate Students. It is the loan given to the parents of the students who are graduating with the college. It can be a post secondary loan. This loan is given to the students who cannot afford to meet the expenses of their studies as well as of other activities like books, notes, handouts etc. This loan is given to the parents of the students who have low incomes and can't afford to finance their child's education.

8 0

3 years ago