6) Discuss the following statement: "Good research is deductive in nature."

An advantage of FIFO is that it assigns the most recent costs to cost of goods sold and does a better job of matching current co

mel-nik [20]

Answer:

The correct answer is False.

Explanation:

This statement that, an advantage of FIFO is that it assigns the most recent costs to cost of goods sold and does a better job of matching current costs with revenues on the income statement, is not correct.

Under fifo method the most recent cost is assign to closing not COGS. It is LIFO method (last in first out ) in which the most recent costs is assign to cost of goods sold. Under the fifo method cost that is incurred first is charged first to COGS.

5 0

2 years ago

Halverstein Company's outstanding stock consists of 8,050 shares of cumulative 5% preferred stock with a $10 par value and 3,450

Licemer1 [7]

Answer:

$6,900 to preference shareholders

Explanation:

The computation of the amount of dividends paid to preferred and common shareholders in Year 2 is shown below:

The Preference dividend is

= 8,050 shares × $10 × 5%

= $4,025

And, since the preference dividend is cumulative plus the in year 1 there is no dividend paid and in year 2 the dividend amount given is $6,900

But the total value is

= $4,025 + $4,025

= $8,050

So the total amount i.e $6,900 is paid to preferred shareholders only

3 0

1 year ago

A rug manufacturer has decided to use 7 compatible colors in her rugs. however, in weaving a rug, only 5 spindles can be used. i

zubka84 [21]

The number of available colors is n = 7.
The number of colors that can be selected at a time among the 7 colors is r = 5.

This means that the number of selections of 5 colors from 7 colors at a time is ₇C₅.
By definition,
$_{7} C_{5} = \frac{7!}{2!5!} = \frac{7.6.5!}{2.1.5!} = \frac{7.6}{2}=21$

Answer: The number of color groupings is 21.

3 0

2 years ago

Read 2 more answers

Jane was a partner at a law firm earning $223,000 per year. She left the firm to open her own law practice. In the first year of

In-s [12.5K]

Answer:

accounting profit from her first year = $184000

so correct option is D. $184,000

Explanation:

given data

earning = $223,000 per year

generated revenues = $347,000

explicit costs = $163,000

to find out

accounting profit from her first year

solution

we know that accounting profit is the difference between explicit cost and explicit revenue so

we get accounting profit from her first year is as

accounting profit from her first year = generated revenues - explicit costs .................1

put here value we get

accounting profit from her first year = $347000 - $163000

accounting profit from her first year = $184000

so correct option is D. $184,000

6 0

1 year ago

Bluebird Mfg. has received a special one-time order for 15,000 bird feeders at $3 per unit. Bluebird currently produces and sell

Orlov [11]

Answer:

Net income will increase by $11,250

Explanation:

Provided information,

Current sales = 75,000 units which represents 80% capacity

Therefore, 100% capacity = $\frac{75,000}{0.8} = 93,750 units$

Fixed cost at 100% capacity = $1.25 $\times$ 93,750 = $117,187.50

Therefore,

Current net income

Sales = 75,000 $\times$ $7.00 = $525,000

Less: Variable cost = 75,000 $\times$ $3.50 = $262,500

Less: Fixed Cost = $117,187.50

Net Operating Income = $145,312.50

Now with the additional order, which is of 15,000 units the additional ideal capacity of 20% will be utilized, further no fixed cost will be incurred, as the entire fixed cost for 100% capacity is utilized, thus

Sales = 15,000 $\times$ $3 = $45,000

Less: Variable cost = 15,000 $\times$ $2.25 = $33,750

Net Income = $11,250

Thus, the net income will increase by $11,250

5 0

1 year ago