Answer:
True
Explanation:
LIFO is in fact, only allowed to be used in the United States, because under the new IFRS (International Financial Reporting Standards), the used of LIFO has been prohibited.
The reason for this, is that LIFO inflates the value of inventory, because the (usually) lower cost of old inventory is what is reported.
This is why companies using LIFO are obliged to report the hypothetical value of the inventories had they used FIFO.
Answer:
The correct answer is:
1 - Singapore
2 - Chile
3 - Ireland
4 - USA
5 - China
Explanation:
An open economy is one that carries out commercial interaction with the outside world. In other words, it buys and sells goods, services or financial assets with the rest of the world economies.
With the consolidation of international trade in recent decades and the phenomenon of globalization, this concept has reached its maximum expression, with economies more exposed to import and export as the basis of its economic model and with greater weight in its GDP. In this sense, it could be said that a closed economy is something currently utopian, since no country currently strictly complies with its theoretical requirements.
The most common procedure to open an economy is the assumption of trade agreements between countries, which regulate and control the entry and exit of goods and services, creating trade routes that can be expanded later in terms of economic integration.
Total manufacturing costs=direct material+direct labor+manufacturing overhead
Calculate direct labor
Let direct labor be x
120%=1.2
1.2x=180000
Divide both sides by 1.2
X=180,000÷1.2
X=150,000 direct labor
Total manufacturing costs=
120,000+150,000+180,000
=450,000...answer
Hope it helps!
Answer:382.77
Explanation:
Subtract 48% from $26,500, it'll give you $13,780, you then divide by 36 which is the number of months for the lease
