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2 years ago

Stephanie seals is a cpa who is working as a controller for brentwood corporation. she is not in public practice

1 answer:

6 0

Stephanie Seals, a CPA who is working for Brentwood Corporation as a controller is not in a public practice, but she can use her CPA status on her business cards as long as she also includes her employment title on the business cards.

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On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in th

Viktor [21]

Answer:

Product Quantity LCM Total

Model A 300 $125 $37,500

Model B 500 $90 $45,00

Model C 150 $59 $8,850

Model D 800 $115 $92,000

Model E 400 $140 $56,000

Explanation:

Product Quantity Cost Per Unit Market Value (NRV)

Class 1:

Model A 300 $140 $125

Model B 500 $90 $112

Model C 150 $60 $59

Class 2:

Model D 800 $120 $115

Model E 400 $140 $145

When a company records inventory at lower of cost or market value, it will record its inventory at whichever price is lower. E.g. if NRV is lower than purchase cost, then inventory is recorded at NRV. If purchase cost is lower than NRV, then inventory will be recorded at purchase cost.

Models B and E should be recorded at purchase cost while models A, C and D should be recorded at NRV.

Product Quantity LCM Total

Class 1:

Model A 300 $125 $37,500

Model B 500 $90 $45,00

Model C 150 $59 $8,850

Class 2:

Model D 800 $115 $92,000

Model E 400 $140 $56,000

8 0

2 years ago

Our company is growing fast, which always means changes and innovations. Because of this growth, the accounting department will

AnnZ [28]

Complete question

(1) ...In this message, the___organizatipn pattern is used.

(2) Which of the following will help youcreate a more effective outline?Check all that apply.

a) Put the main idea in the title,

b) Use one sub-point per main idea,

c) Use evidence to support sub-points,

d) Include 3 to 5 major components,

e) Combine subpoints whenever possible,

f) Avoid illustrations when supporting subpoints

Answer:

1. indirect organizational pattern

2. a, c, d

Explanation:

1. Since the nagative information was placed at the end of the message it follows an Indirect message pattern inorder to minimise negative feelings by the listeners.

2. A more effective outline is created when the main idea of the message is placed in the title, while also using supporting evidence to discuss the sub-points. And finally limiting the use of illustrations when supporting subpoints.

7 0

2 years ago

The adjusted trial balance for Lifesaver Corp. at the end of the current year, 2018, contained the following accounts.5-year Bon

Andru [333]

Answer:

b. $3,350,000

Explanation:

Long-Term Liabilities:

Bonds Payable $3,000,000

Notes Payable $165,000

Mortgage Payable $185,000

Total Long Term Liabilities $3,350,000

3 0

2 years ago

Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Colu

Mekhanik [1.2K]

Answer:

Value of closing Inventory under absorption costing = $56,610

Explanation:

Provided sales for the month = $902,000 a the rate of $22 per unit.

That means sales in units = $902,000/ $22 = 41,000 units.

Provided opening stock of finished goods = 8,770 units

Production for the month of November = 35,560 units

Closing inventory = Opening + Manufactured - Sales

= 8,770 + 35,560 - 41,000 = 3,330

Under absorption costing only manufacturing overheads are added to the cost of goods, operating expenses like selling & administrative do not form part of that.

Variable cost of goods sold do not include operating expenses, as variable selling expenses are provided separately.

Therefore cost of goods sold per unit = $574,000/41,000 = $14 per unit.

Variable selling expenses will not form part of value of closing inventory under absorption costing.

Fixed manufacturing expenses will be considered fully with the production quantity of 35,560 units as no production capacity has been provided.

Manufacturing fixed cost per unit = $106,680/35,560 = $3 per unit

Value of closing Inventory = Cost of goods sold per unit + Fixed cost per unit allocated

= ($14 X 3,330) + ($3 X 3,330) = $56,610

8 0

2 years ago

Schister Systems uses the following data in its Cost-Volume-Profit analyses: Total Sales $ 400,000 Variable expenses 220,000 Con

blondinia [14]

Don’t trust my word I just need to answer questions i’m so sorry

4 0

2 years ago