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Volgvan
3 years ago
8

assuming that prices rise over time, which inventory cost flow assumption will result in the lowest cost of goods sold?

Business
1 answer:
12345 [234]3 years ago
3 0

Answer: FIFO

Explanation:

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Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead
kupik [55]

Answer:

Underapplied Manufacturing Overhead $23,000

Explanation:

Sawyer Manufacturing Corporation

Predetermined overhead rate = Estimated total manufacturing overhead cost ÷ Estimated total amount of the allocation base

= $300,000 ÷ 52,000 direct labor hours

= 5.7 Approximately $6 per direct labor-hour

Overhead over or underapplied Actual MOH

= 365,000

Applied MOH = $6 x 57000 = $342,000

Underapplied Manufacturing Overhead = 365,000-342,000 = 23,000

Therefore The Corporation's applied manufacturing overhead cost for the year was $23,000

8 0
3 years ago
Substitutes have a(n): Please choose the correct answer from the following choices, and then select the submit answer button. in
hjlf

Answer: positive cross elasticity of demand.

   

Explanation: In simple words, cross elasticity refers to the degree of change in the demand of a good with respect to change in the price of another goods.

In case of substitute goods, one good can easily be used in the place of another good. Thus, if the price of one good increases the demand for its substitute good also increases.

Hence from the above we can conclude that substitute goods have positive cross elasticity.

3 0
3 years ago
Total revenue equals A. change in price per unit times quantity sold. B. price per unit times change in quantity sold. C. price
Dmitriy789 [7]

Answer:

C. price per unit times quantity sold.

Explanation:

Total revenue is defined as the revenues that are received from the sales of units of goods and services. It is price multiplied by quantity sold.

Total revenue can also be seen as price per unit times quantity is sold. For example if the unit price of a good is $2 the price per one unit is $2. When 20 units are sold the price per units sold is 20* $2= $40.

So times that a defined unit of goods is sold multiplied by price gives the total revenue.

7 0
3 years ago
On January 1, 2020, Bonita Company purchased 12% bonds, having a maturity value of $320,000 for $344,260.74. The bonds provide t
Delvig [45]

Answer:

Following are the responses to the given points:

Explanation:

For point a:

Criteria I                                    

Date: 1-1.2020                 Debt Investments                    \$3,44,260.74

                                         cash                                       \$3,44,260.74

For point b:

Criteria  II

Date: 31.12.2020                Interest Account receivable to pay \$38,400.00   \ \ \ \ \ \ \ \ \ \            320000\times 12\%

                                    Debt Investments   \$3973.93

                                   rate of Revenue          \$34,426.07(\$344,261.74 \times 0.10)                                        

31.12-2020                         Fair Value Adjustment                        1713.19

                       Gain or loss - equity unrealized holding          1713.19                          

for point c:

Criteria III

31.12-2021                       Interest Account receivable to pay          \$38,400            

                                    Debt Investments                              \$4,371

                                   rate of Revenue                       \$34,029

 

31.12-2021                   Gain or loss - equity unrealized holding    \$7,927.69

                                   Fair Value Adjustment                          \$7,927.69

                                329700-335914.50=6214.50+1713.19 =7,927.69

Please find the attached table.

8 0
3 years ago
Current account and ______ account are the two major components of a statement that summarizes all debit and credit transactions
alina1380 [7]

current account and 2 years after acount are the two major components of a statement that summarizes all debit and credit transactions of one country with the rest of the world.

6 0
2 years ago
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