Answer:
The correct answer is letter "A": reporting inventory at the lower of cost or market.
Explanation:
Accounting Conservatism is a doctrine that involves the implementation of accounting laws with a high degree of verification. Accountants practicing conservatism must support approaches that are the most favorable in the company's income statement. If the accountant has two choices to choose from when faced with an accounting problem, the one that produces lower numbers should be chosen.
<em>When it comes to inventory valuation, accounting conservatism states that the lower historical or market cost must be selected while recording the information in the company's ledgers.</em>
Answer:
Variable costs per unit increase as a company produces more units of production.Total fixed cost is constant over all units of production.
Explanation:
there is positive relation between variable cost and production, increase in production will increase the cost and vise visa.
there is inverse relation between fix cost and production higher the production lower the fix cost will be apportioned per unit but the total cost will remain the same
Example :
Case-1 Case-2
Production 50000 100000
V.Cost 100 p.u 100 100
Fix Cost 100000 100000
total cost
Variable cost 5000000 10000000
Fix Cost 100000 100000
variable cost is increasing due to increase in production in both cases fix cost will remain the same because no matter how many products company produce fix will remain the same.
Answer:
$175,000
Explanation:
Conversion costs are production costs that must be incurred in order to change raw materials into products.
Therefore, we have:
Total of the conversion costs = Cost of clay used in production + wages paid to the workers who paint the figurines = $76,000 + $99,000 = $175,000
Answer:
As per Sales Budget the budgeted sales for the quarter four are $240,000. Below is the Sales budget.
Explanation:
Scora, Inc.
Sales Budget
Month Budgeted Unit Sales Budegted Unit Price Budgeted Total Sales
(A) (B) (A*B)
January 1200 $50 $60,000
February 2000 $50 $100,000
March 1600 $50 $80,000
Total for the quarter 4800 $50 $240,000
Hence, it is concluded that the budgeted sales for the January, February, March are $240,000.
Answer:transnational is the answer
Explanation:have a great day
