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Sonbull [250]
3 years ago
7

When using the specific identification inventory method, cost of goods sold equals the ______.

Business
1 answer:
aleksandrvk [35]3 years ago
4 0

With the <em>specific identification inventory method</em>, the Cost of Goods Sold equals the <em>exact costs of the items sold.</em>

The <em>specific identification inventory method</em> tracks each sold item to record its cost.  The Cost of Goods Sold includes only the actual cost of the items sold and not an average or assumed cost.

The <em>specific identification inventory method</em>  is not like the:

  • FIFO (First-in, First-out) method that assumes that items sold are from the first inventories in the store
  • LIFO (Last-in, First-out) method that assumes that items sold are from the last inventories in the store
  • Weighted-average method that takes the average cost for all the items in store to determine the cost of goods sold.

Thus, the <em>specific identification method</em> ensures that the Cost of Goods Sold equals the actual cost of the goods.

Read more: brainly.com/question/18522650

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Tercer reports the following for one of its products. Direct materials standard (4 lbs. $2 per lb.) Actual direct materials used
Natalka [10]

Answer:

Results are below.

Explanation:

Giving the following information:

Direct materials standard (4 lbs. $2 per lb.)= $8 per finished unit

Actual direct materials used (AQ)= 300,000

Actual finished units produced= 60,000

Actual cost of direct materials used= $535,000

<u>To calculate the direct material price and quantity variance, we need to use the following formulas:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 1.783)*300,000

Direct material price variance= $65,100 favorable

Actual price= 535,000 / 300,000= $1.783

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (4*60,000 - 300,000)*2

Direct material quantity variance= $120,000 unfavorable

6 0
3 years ago
The organization of 183 countries, all of which have signed treaties to protect intellectual property rights, is known as
nignag [31]
It is known as "World Intellectual Property Organization".

In 1967 the World Intellectual Property Organization was created to encourage and protect intellectual properties. It is also part of United Nation's seventeen specialized agencies. Though it was started with 183 members, overtime the number increased and as of 2016 it had 189 members with headquarters in Switzerland. 
8 0
3 years ago
Printers today have many features that include improved quality, photo printing capabilities, digital camera connectivity, built
iVinArrow [24]

Answer:

A printer is a device that accepts text and graphic output from a computer and transfers the information to paper, usually to standard size sheets of paper. Printers vary in size, sophistication, speed, and cost. In general, more expensive printers are used for higher-resolution color printing.

Printers today have many features that include improved quality, photo printing capabilities, digital camera connectivity, built-in flash memory card readers, wireless connectivity, and faster speed.  

The Six important printer qualities are:

  1. Color: It is important for users who need to print pages for presentations or maps, photos and other pages where color is part of the information. Color printers can also be set to print only in black-and-white. Color printers are more expensive to operate since they use two ink cartridges (one color and one black ink, toner) that need to be replaced after a certain number of pages. Users who don't have a specific need for color and who print a lot of pages will find a black-and-white printer cheaper to operate.  
  2. Resolution: Printer resolution (the sharpness of text and images on paper) is usually measured in dots per inch (dpi). Most inexpensive printers provide sufficient resolution for most purposes at 600 dpi.
  3. Speed: If you do much printing, the speed of the printer becomes important. Inexpensive printers print only about 3 to 6 sheets per minute. Color printing is slower. More expensive printers are much faster.
  4. Memory: Most printers come with a small amount of memory (for example, one megabyte) that can be expanded by the user. Having more than the minimum amount of memory is helpful and faster when printing out pages with large images or tables with lines around them (which the printer treats as a large image).
  5. Wireless connectivity : Specialized printer nowadays have wireless connectivity which allows user to communicate with the machine without physical operation. Like one can just give command to the printer to print their projects using their mobile phone while sitting on the couch. This feature might add extra bucks to the bill but its worth it.
  6. Printer languages The commands from the computer to the printer to tell the printer how to format the document being printed. These commands manage font size, graphics, compression of data sent to the printer, color, etc. The two most popular printer languages are Postscript and Printer Control Language.

Conclusively the best printer will be the one which will provide pleasant color contrast, good resolution, enough memory, wireless connectivity and have better language settings.

3 0
3 years ago
Patricia made her career planning timeline in the year 2007. In what year
amm1812

Answer:

<h2>A. 2007 </h2>

Explanation:

Hope this is helpful

3 0
3 years ago
Regulatory policy is a balance between ___________________ safety and ____________________ rights.
Lana71 [14]

Answer:

protecting

constitutional

Explanation:

7 0
2 years ago
Read 2 more answers
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