Answer: The correct answer is "c. The FIFO method computes equivalent units based only on production activity in the current period, ignoring the percentage of completion in beginning Work in Process inventory.".
Explanation: Process Costing is a special accounting method to identify and accumulate direct costs and prorate indirect costs of the same manufacturing process.
The statement "The FIFO method computes equivalent units based only on production activity in the current period, ignoring the percentage of completion in beginning Work in Process inventory." is the most accurate.
Answer:
Option D
Explanation:
A positive or explanatory statement in the humanities and psychology is about what "is," "was" or "will be," and does not involve any impression of acceptance or rejection.
The positive explanation is supported by empirical evidence. For eg, "A rise in taxes would lead to less usage" and "A decrease in fuel production would cause an increase to its value."
Positive assumptions are commonly used to explain the observable, such as the inflation rate in a country. These are primarily used to explain hypotheses and principles.
The answer to the question is false
Answer:
the total cost of ordering and holding sugar is $1,000 per year
Explanation:
<em>Step 1 Calculate the Economic Order Quantity(EOQ).</em>
EOQ = √(2×Total Demand×Ordering cost)/ Holding Cost per Unit
= √(2×250×20×5)/20
= 50
<em>Step 2 Calculate the total cost of ordering and holding sugar</em>
Total cost = Ordering Cost + Holding Cost
= (250×20)/50 × $5 + 50/2 × $20
= $500+$500
= $1,000
Therefore, the total cost of ordering and holding sugar is $1,000 per year