Answer:
$118,220
Explanation:
The Costs of Goods Sold COGS is calculated using the following formula.
COGS = Beginning inventory + purchases - Ending Inventory
For Azur company
Beginning inventory: 30,840
Ending inventory : 20,560
Net purchases equal Net purchase equal to purchases plus freight-in minus discounts freight-out are administrative expenses, hence do not feature in COGS
Net purchases =$102,800 + $15,420 -$ 10,280
Net purchases =$107,940
COGS = $30,840 +$107,940 -$20560
COGS = $118,220
Answer: Currency is converted to common currency, GDP is divide by population and compare GDP per Capita
Explanation:
GDP is measured in a countries currency. When Comparing a GDP of one country to the GDP of another country currency is converted into a common currency. Currency can be converted using exchange rate. the GDP of one country will then be expressed in the currency of another country using the exchange rate.
Some countries have a high number of population than others, for example China has more people than Mexico. therefore measure GDP and The standard of living between countries GDP will need to be divided by population which will give us GDP per capita which measures the standard of living by showing the GDP per person
Answer:1. Make provision for warranty claims.
2. Disclosure of contingent liability
3. No cost should be recorded.
Explanation:
Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.
Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.
The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.
Answer:
Fixed overhead application rate
= <u>Budgeted fixed overhead</u>
Budgeted direct labour hours
= <u>$114,000</u>
60,000 hrs
= $1.90 per direct labour hour
Amount of overhead applied to job X387: $
Variable overhead $4.90 x 170 hours = 833
Fixed overhead $1.90 x 170 hours = 323
1,156
Explanation:
In this case, there is need to calculate the fixed overhead application rate based on direct labour hours by dividing the the budgeted fixed overhead by budgeted direct labour hours. Then, we will calculate the overhead applied to Job X387 by multiplying the fixed and variable application rate by actual direct labour hours of 170 hours.
Answer: The answer is given below
Explanation:
According to Gerzema, some of the changes that consumers are making when it comes to spending money or buying an item include the idea of using debit cards at the expense of credit cards. This implies that individuals are now paying for goods and services with the money that is already with them.
He also said individuals now go after the “liquid life”, where he said that individuals define success on liquidity and not on having things. He also said individuals look at organization's values and that they're always looking for ways to have value for things they buy. The cause of these are the fact that consumers are being empowered and also wants to improve their economy.
