Fifo cost flow assumption

Assignment Help Accounting Basics
Reference no: EM13134560

Which of the following is not a disadvantage of using the FIFO cost flow assumption?

a) creates the highest outflow for income taxes during periods of rising prices

b) does not match current costs against current revenues

c) includes all the holding gains in income during periods of rising prices

d) provides a relevant ending inventory value

Reference no: EM13134560

Questions Cloud

The head office of kkae : The head office of KKAE is located in Australia/Sing/India. Documents and reports must be displayed/printed in English. Grammar and spelling in all the documents and output reports follow the English version. For example, some of the foreign salutati..
Information regarding perimeter of rectangle : Manual on Uniform Control Device (MUTCD) the perimeter of some traffic sign must be 72 inches. Aslo, its length is 12 inches longer width find the dimernsion of this sign.
How many grams of f2 are needed : How many grams of F2 are needed to produce 237 g of PF3 if the reaction has a 80.4% yield?
Write the structures of the following compoundsa : Write the structures of the following compoundsa) 2,2-dibromo-3,3-dichloro-5,5-difluoro-6,6-diiodobicyclo{2.2.1}heptane
Fifo cost flow assumption : Which of the following is not a disadvantage of using the FIFO cost flow assumption?
Compute the standard cost of one unit of product : Compute the budgeted amounts for 2010 for direct materials to be used, direct labor, and applied overhead. Compute the standard cost of one unit of product.
What is the molar mass of the unknown gas : A sample of an unknown gas effuses in 12.4 min. An equal volume of H2 in the same apparatus at the same temperature and pressure effuses in 2.59 min.
Transform each test score to a z-score : The test scores of a student who took both tests are given below. A student gets a 75 on the statistics test and a 29 on the biology test. transform each test score to a z-score.
What is the new equilibrium price level : Is the equilibrium real output also necessarily the full-employment real output and Sketch in the new aggregate demand curve as AD. What is the new equilibrium price level and level of real output?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the company most profitable sales mix

Determine (1) the company's most profitable sales mix and (2) the contribution margin that results from that sales mix.

  Physical units-nrv-constant

Bubble Corporation manufactures two products, I and II, from a joint process. A single production costs $4,000 and results in 100 units of I and 400 units of II. To be ready for sale, both products must be processed further, incurring separable co..

  Preparing an income statement

Prepare an income statement through gross profit for the year ended December 31, 2004.

  What is the journal entry that should be made

A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the ..

  Compare the effects of renouncing citizenship

Decide if either of these actions is warranted in your particular case and state why you think that way.

  Bond issue and interest accrued on bonds due adjustment

Show the journal entries in 2006. (Please be reminded the year-end for ABC Corporate is Dec 31, adjusting is required)

  General partnership-limited partnership

I need to determine the best form of business entity for a business having the following characteristics and explain why choose that form of business:

  What are the implications of this to financial markets

What is the role of social responsibility in finance for Michael Milken, Ivan Boesky and Martha Stewart? Describe how unethical behavior can go undetected by regulators and accountants. What are the implications of this to financial markets?

  Conversion cost per unit

Madison Industries has equivalent units of 2,000 for materials and for conversion costs. Total manufacturing costs are $160,000. Total materials costs are $120,000. How much is the conversion cost per unit?

  Determining output-price and profits

As a monopoly, compute Quick Tax's output, price, and profits at the profit-maximizing activity level.

  Dividend yield and equity cost of capital

If Krell is expected to pay a dividend of $0.88 this year, and its stock price is expected to grow to $23.54 at the end of the year, what is Krell's dividend yield and equity cost of capital?

  Prepare the entry to assign factory labor to production

The gross earnings of factory workers for Javelin Manufacturing Company during the month of January are $300,000. The employer's payroll taxes for the factory payroll are $36,000. Of the total accumulated cost of factory labor, 75% is related to d..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd