Coronado Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories: Net realizable Product Cost value A $112000 $125000 B 80000 75000 C 155000 165000 If Coronado applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
Answers: 3
Business, 22.06.2019 04:10
Lynch company manufactures and sells a single product. the following costs were incurred during the companyโs first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the companyโs product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.
Answers: 1
Business, 22.06.2019 10:40
At cooly cola, we are testing the appeal of our new diet one cola. in a taste test of 250 randomly chosen cola drinkers, 200 consumers preferred diet one cola to the leading brand. assuming that the sample were large enough, the large-sample 95% confidence interval for the population proportion of cola drinkers that prefer diet one cola would be:
Answers: 1
Business, 22.06.2019 13:50
The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?
Answers: 2
Business, 23.06.2019 08:30
What effect, considered related to the secondary effect of advertisement, occurs as an advertisement begins to lose its impact when it gets old? the makes the advertisement lose its impact after it gets old.
Answers: 1
Coronado Company developed the following information about its inventories in applying the lower-of-...
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