Rose industries had 400 units of product ab in their inventory, costing $12 each. 600 more units of product ab were purchased for $18 each. rose industries eventually sold 700 units for $30 each. by what amount did the lifo liquidation overstate normal gross profit?
a.$ -0-
b.$1,200
c.$1,800
d.$ 600

Answers

Answer 1

The company in here is forced to sale their older inventory because of the demand of 700 units while the inventory that last entered their warehouse was only 600 units. Since they are following the LIFO method of inventory, LIFO liquidation will take place and the normal gross profit will differ than the actual profit. The sales for Rose Industries would be $21,000 (700 units x $30). The COGS should have been $12,600 (700 units x $18) following the normal sale of inventory giving the normal gross profit as $8,400 ($21,000 - $12,600). But since the demand is higher than the inventory that was last purchased, the company needs to sell 100 units of product ab that costs $12. Therefore, the COGS would be $12,000 [(600 units x $18) + (100 units x $12). Therefore the actual gross profit is $9,000 which is $600 higher than the normal gross profit.


Related Questions

Where did the demand for national prohibition originate?

Answers

National Prohibition to a great extent began from requests of the ladies' development and Protestant houses of worship. The National Prohibition Act, referred to casually as the Volstead Act, was authorized to do the goal of the eighteenth Amendment, which set up restriction in the United States.

Shelby traveled to mexico to a resort and took $100 in u.s. currency. when she exchanged it for pesos, she received

Answers

Shelby received 2000 pesos if the exchange rate was 20 pesos for 1 U.S. dollar.

When Shelby exchanged $100 in U.S. currency for pesos in Mexico, the amount of pesos she received would depend on the prevailing exchange rate between the U.S. dollar (USD) and the Mexican peso (MXN) at that particular time. Exchange rates fluctuate continuously due to various factors such as economic conditions, interest rates, and geopolitical events.

For example, if the exchange rate was 20 pesos for every 1 U.S. dollar, then Shelby would receive:

[tex]\[ 100 \text{ USD} \times 20 \text{ pesos/USD} = 2000 \text{ pesos} \][/tex]

So, Shelby would receive 2000 pesos in exchange for $100 U.S. currency at that exchange rate.

However, exchange rates can vary, and Shelby may receive a different amount of pesos if the exchange rate is different. If the exchange rate were 18 pesos for every 1 U.S. dollar, then Shelby would receive:

[tex]\[ 100 \text{ USD} \times 18 \text{ pesos/USD} = 1800 \text{ pesos} \][/tex]

So, at this exchange rate, Shelby would receive 1800 pesos in exchange for $100 U.S. currency.

Therefore, the specific amount of pesos Shelby received would depend on the exchange rate applicable at the time of her currency exchange transaction. It's essential to check the current exchange rate before making any currency exchange to ensure the most accurate conversion and value for the money exchanged.

QUESTION

When Shelby traveled to Mexico and exchanged $100 in U.S. currency for pesos, she received a total of Cuántos pesos recibió Shelby al cambiar $100 en moneda estadounidense?

The _____________ defines the resources the solution will need to operate satisfactorily.

Answers

The answer in the space provided is capacity plan. It is because it is the one responsible of meeting the demands in terms for the products or services by having to determine its capacity for these change to be made.

Final answer:

The problem statement is crucial in defining the necessary resources for a satisfactory solution, encompassing both criteria and constraints like cost, safety, and environmental considerations.

Explanation:

The problem statement defines the resources the solution will need to operate satisfactorily. When the SCV design team identifies the problem, they take into account criteria and constraints. Criteria refer to the measurable standards a design must meet, such as the rate of water production and the system's lifespan. Constraints are the limitations within which the solution must be developed, including cost limitations, safety, environmental considerations, and availability of utilities like electricity.

To formulate a valid problem statement, the team must thoroughly understand the context involving the village's needs and environmental aspects. Then, they articulate a problem statement that not only encompasses the requirements and constraints but also defines the scope and resources available for the project. For instance, a proposed system to produce drinkable water for a village would require restrictions such as a budget of no more than $2 per thousand gallons over a 10-year period, including all associated costs for materials, construction, and operation.

By clearly defining the problem statement, design teams can proceed with developing a solution that operates within the established requirements and constraints, ensuring that the final design is both feasible and effective. This problem statement acts as a foundation for the subsequent steps in the design process.

How were city States different from one another? What did they have in common?

Answers

The common characteristics of Greek and Romans were both polytheist, or having more than one god, to begin with. They also have many god with different names. They heavily influenced our current society, especially in terms of mythology. The separate city states that made up ancient Greece were often very different from one another. 

Which of the following is probably NOT an important point to include in a business pitch? A detailed description of the meaning behind the company's name. The problems that the product or service solves or the demands it meets. How the product or service is different. Clear reasons why the potential customers and investors should care about the business. Main Menu

Answers

it's obviously the first one, a detailed description of the meaning behind the company name.

The probably NOT important point to include in a business pitch is a detailed description of the meaning behind the company's name.

When preparing a business pitch, it is crucial to include certain key points that can attract potential customers and investors. However, a detailed description of the meaning behind the company's name is probably not an important point to include.

Instead, focus on explaining the problems that the product or service solves or the demands it meets, how the product or service is different, and providing clear reasons why potential customers and investors should care about the business. These elements show the value and uniqueness of your company, making it more appealing to stakeholders.

Which is the simplest and oldest method of job evaluation?
a. job grade system
b. point system
c. job ranking system
d. job worth system?

Answers

The answer is job ranking system. This process is responsible of having to check the worth of each jobs and that they are being compared from each other in means of having to know their worth and the skills or responsibility needed when using or assigned to this kind of job.

Final answer:

The simplest and oldest method of job evaluation is the job ranking system. It is a method where jobs are compared to each other based on their relative value or contribution to the organization. Despite its simplicity, it may lack precision compared to other complex methods.

Explanation:

The simplest and oldest method of job evaluation is c. job ranking system. The job ranking system is an intuitive and often subjective method where jobs are compared to each other based on the overall judgment of the relative value or contribution to the organization. It's the easiest to understand and implement, as it simply involves determining the hierarchy of jobs in terms of their importance to the company.

Though simple, the downside is a lack of precision compared to other more complex methods such as the point system or job grade system. It's better suited for smaller organizations with less variety in job roles.

A sample process might involve a group of subject matter experts (SMEs) within a company creating a list of jobs, discussing each one and deciding on a consensus ranking for each job. Despite its simplicity and age, it remains in use today in one form or another in many organizations.

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Why do government regulations lead to higher prices for consumers?

Answers

Government regulations mandate production or testing requirements to ensure the quality and safety of products. This typically means specialized equipment is needed to produce the product, more employees are needed to perform quality control tests, and possibly higher quality raw materials must be used. The cost of producing the product increases with the higher quality materials, new equipment acquisition, and additional paid employee time. These added production costs are then passed on to the consumer in the final price of the product.

Government regulations can lead to higher prices for consumers due to increased production costs and reduced freedom of choice. Additionally, regulatory capture by industries can result in reduced competition and higher prices. Despite this, regulations can also offer safety and predictability benefits, balancing the overall impact.

Government regulations can lead to higher prices for consumers due to a variety of factors. One primary reason is that regulations can add to the cost of producing goods and services, which businesses typically pass on to consumers in the form of higher prices. Furthermore, regulations may limit the freedom of choice, sometimes restricting individuals who are willing to take on more risks. This reduction in choice can also affect market dynamics and contribute to price increases.

Another significant problem related to government price regulation is regulatory capture. This situation arises when firms that are supposed to be regulated have significant influence over the setting of regulations. The classic example of this occurred during the regulation of the airline industry, where the industry had a strong say in the makeup of the regulatory board and provided information that the board used to make decisions. This can lead to regulations that serve the interests of the firms rather than the consumers, often leading to reduced competition and higher prices.

Overall, the effect of government regulations on prices is complex, involving a trade-off between the costs and benefits. While regulations can increase prices, they also can provide benefits such as increased safety, predictability, and decreased legal costs due to compliance. Additionally, environments with few or no regulations can also have negative impacts, such as less innovation, scarcity of goods, and even, in extreme cases, adverse socio-economic outcomes if a government tries to control the economy too tightly.

Therefore, Government regulations lead to higher prices for consumers because they add costs to the production and selling processes to comply with those regulations.

In darlene's performance review, her supervisor pointed out that she frequently misunderstood the tasks and deadlines that had been assigned to her. the supervisor suggested that darlene should restate, after each team meeting, what she understands her assignment to be. this strategy of rephrasing will give the supervisor a chance to correct any misconceptions. which type of paraphrasing will darlene be using?

Answers

Final answer:

Darlene will be using restatement paraphrasing to clarify her understanding of assignments and deadlines.

Explanation:

Darlene will be using restatement paraphrasing to clarify her understanding of assignments and deadlines. Restatement paraphrasing involves summarizing or rephrasing information using one's own words. By rephrasing her understanding of assignments after team meetings, Darlene can ensure that she has accurately comprehended the tasks and deadlines and give her supervisor an opportunity to correct any misconceptions.

An increase in local competition, an increase in labor cost, or a fall in the economy are all _____ to an organization.

Answers

These three are all considered potential threats to an organization. The reason for this is that local competition that becomes increased can potentially put someone out of business if done correctly (e.g., undercutting for the same product), increase of labor cost can put business costs too high to make a profit, and a fall in the economy can cause people to not have a disposable income to buy your product or service.

In 2009, one of the u.s. government's bailout packages was $700 billion when gold was worth $800 per ounce ($28.20 per gram).

Answers

Let us convert the total bailout package in scientific notation. We know that a billion is equivalent to 10^9. Therefore:

total bailout = 700 x 10^9

 

So the mass is:

mass (ounce) = 700 x 10^9 / 800 = 875,000,000 ounce = 875 x 10^6 ounce

mass (grams) = 700 x 10^9 / 28.20 = 2.48 x 10^10 grams

Variations in each product a firm markets in its mix are referred to as the _____ of its product mix.

Answers

Answer:  "depth" .
____________________________________

Sade, who is single and self-employed as a graphic artist, had net earnings from self-employment of $7,250 for the year. she paid $285 a month for health insurance premiums over the last year. sade is entitled to a for agi deduction for health insurance of:

Answers

$285 x 12 = $3,420 deductions 

I got the 12 from the months in a year that she paid $285.

Sade is entitled to an above-the-line deduction of $3,420 for her health insurance premiums, which equals the total amount she paid for health insurance during the year as it does not exceed her net earnings from self-employment.

Sade, a self-employed graphic artist with net earnings from self-employment of $7,250 for the year, is looking to determine her above-the-line deduction for health insurance premiums. As a self-employed individual, Sade is entitled to deduct the premiums she paid for health insurance from her income to determine adjusted gross income (AGI). She paid $285 a month for her health insurance premiums over the last 12 months, which totals $3,420 ($285 x 12).

The above-the-line deduction for self-employed health insurance is designed to reduce taxable income by the amount of the premiums paid, provided they do not exceed the net earnings from self-employment. In Sade's case, her total health insurance premiums of $3,420 are less than her net self-employment income of $7,250, so she would be entitled to deduct the full amount of $3,420 from her income.

Therefore, Sade's above-the-line deduction for her health insurance would be $3,420, directly reducing her taxable income.

Sam was recently promoted to the production manager of a busy shoe factory. he was chosen because prior to his promotion he had proven himself to be very efficient, and as a department manager he had a logical and practical approach to solving problems. sam has a reputation for being decisive and getting things done. most of the factory's employees like sam, but they feel his style is autocratic, because he likes to do things by the book. sam has a(n) ______ style.

Answers

the answer to this question is Directive style
Leaders with directive style tend to like setting clear objectives for every member of the organization.
This type of leader usually will impose specific rules and expectations for the members so each members will understand what that leader is trying to achieve.

Final answer:

Sam has an autocratic and by-the-book managerial style, closely aligned with Fredrick Taylor's scientific management which prioritizes efficiency and standardized processes.

Explanation:

Sam, the new production manager of a shoe factory, is known for his efficiency and practical problem-solving abilities. Based on the information provided, where Sam is seen as autocratic and likes to do things 'by the book,' his managerial style aligns closely with the principles of scientific management conceived by Fredrick Taylor. This management style focuses on optimizing efficiency, following standardized procedures, and reducing personal interaction in the pursuit of profitability. Drawing from the historical concept of Taylorism, Sam's approach to management emphasizes clear instructions, regimentation of work to enhance productivity, and a preference for control over consensus in decision-making.

According to research, a majority of adolescents' favorite computer games involve

Answers

According to research, a majority of adolescents favorite computer games involve violence.
Computer games such as Quake II and Doom involves the illustration of extreme violence. The majority of the adolescents favorite the computer games that involve violence because violent games have proven to be so famous. Young people are already at risk for violent behavior because of the influence of computer games and media.

Ten years ago, stigler company issued $100 par value preferred stock yielding 6%. the preferred stock is now selling for $102 per share. what is the approximate current yield or cost of the preferred stock? (disregard flotation costs.)

Answers

To solve for the current yield, we must do the following steps:


1.       Get the interest of the preferred stock.

100 x 0.06 = 6


2.       Now if you get the interest, divide this by the amount of the current selling price of the stock.

6 / 102 = 0.0588


3.       Just convert this into percentage.

0.0588 x 100 = 5.9%

Henry and ryan each invest $10,000 in a limited partnership as limited partners, so that each has a 50% interest. tracey sues the limited partnership and obtains a $100,000 judgment. henry's liability is

Answers

$10,000 because that is all that he invested.

How did microsoft defend its case concerning the company's required installation of microsoft internet browsers with all installations of their operating systems? the browser had no profit making potential as a separate product. the browser was not part of the operating system. the browser could not be sold separately. the browser worked best with their operating system?

Answers

the browser could not be sold separately.

Answer:

The browser could not be sold separately.

Some factors that affect income are _____.


1. skills, gender, race, and friends
2. education, friends, social networking, and experience
3. education, skills, supply and demand, and experience
4. supply and demand, location, career choice, and goals

Answers

I would choose number 4 as the answer.

Some factors that affect income are;

Supply and demand locationCareer choice, and goals.

What is an income?

Income serves as the amount of money that us been received from work on in an investment which be on regular basis.

Therefore Supply and demand can affect ones income because in economics , the law that control buying and selling is based on this two laws.

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__________ gathers information about competitors that allows managers to anticipate competitors' actions rather than merely react to them.

Answers

Answer:  "Competitor intelligence" .
____________________________________

In financial statements, the number of units shown to be sold is __________ than the number of the units produced.

Answers

higher or lower than.... (can be)

Answer:  The correct answer is :  either Higher or Lower

Explanation:  In the financial statements the number of units shown sold can be higher than the number of units produced if the current year produced stock is sold along with the Opening Stock carried forward from previous year’s stock. It is also the case that the number of units shown sold may be lower than the number of units produced in case the sales are very low and the company has not been able to sell even the stocks currently produced.

Rules of thumb or short-cuts that individuals use to save time when making complex decisions are known as _____.

Answers

Rules of thumb or short-cuts that individuals use to save time when making complex decisions are known as....Heuristics
Heuristics is the answer

Parenthetical citations are _____.

Select the best answer choice.
a.notes placed at the top of the page that comment on something in the body of the text
b.notes written within the body of the text
c.references to a source placed within parentheses in the body of the text
d.notes placed at the bottom of the page that comment on something in the body of the text

Answers

C. references to a source placed within parenthesis in the body of the text. Hence, parenthetical citations (parenthesis). 

Parenthetical citations are often placed at the end of information that is not one's own, either someone else's words or a paraphrase of someone else's word. We use this to give credit by quoting the source.

Since the requirements for privacy reach across the organization, the privacy specialist works with appropriate ____ to ensure that the plan is complete and accurate

Answers

Since the requirement for privacy ............................................. with appropriated SUBJECT MATTER EXPERTS to ensure that ...............accurate.
Privacy specialists are those professionals who are trained in the field of data protection. They work to ensure that a company's data is securely protected. In their work, the privacy specialists have to collaborate with subject experts in the field of the data which they are working on in order to ensure accuracy. For instance, when working to protect accounting data, experts in the fields of accounting such as a chattered accountant will be needed to work together with the privacy specialist.

Saekano: how to raise a boring girlfriend

Answers

Answer:

First step: don't view her as boring

Try and see the good in her and show her that you love her. In return, her will do the same! :):)

Explanation:

The premiums for which insurance increase with person's age?
A)life insurance
B) property insurance
C) auto insurance
D) renters insurance

Answers

Obviously life insurance lol

The decorations for which insurance increases with a person's age are called life insurance. The correct option is a.

What's life insurance?

Life insurance is a contract between an insurance policyholder and an insurer or assurer, where the insurer promises to pay a designated devisee a sum of plutocrat upon the death of an insured person frequently the policyholder.

Depending on the contract, other events similar as terminal illness or critical illness can also spark payment. The policyholder generally pays a decoration, either regularly or as one lump sum. The benefits may include other charges, similar as charges. Life programs are legal contracts and the terms of each contract describe the limitations of the insured events. frequently, specific rejections written into the contract limit the liability of the insurer; common exemplifications include claims relating to fraud, war, hoot, and civil commotion.

Therefore, the decorations for which insurance increases with a person's age are called life insurance.

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The nation's total wealth almost tripled between 1920 and 1930, while wage workers enjoyed record-breaking increases in average income. true

Answers

This statement is false.
The nation's total wealth didn't almost triple, it almost doubled between those years, whereas the rest of the sentence is indeed correct. The living standard in America was great - everyone was prosperous and could afford to live better than ever, at least for a while.

Jorge is faced with the decision of which of two equally attractive condominiums to buy. he makes a list of the factors that are most important to him and numerically rates the two condominiums on each factor. jorge is using the _____ model of decision making.

Answers

Jorge is definitely using the Rational Model of decision making as the decision he made was based on the facts he listed out about the two condominiums and was not just based on his intuition. Jorge had to evaluate the two condominiums based on some factors and used those factors to select which one will be most favorable for him. This was rational and not intuitive which is based on intuition and not reasoning. This concludes that Jorge used The Rational Model of decision Making.

The money demand curve would move from money demand1 to money demand2 if

Answers

the money value has been increased and the buyer or money/loan taker is happy to recieve it

The primary source of labor for america's first tobacco, indigo and cotton plantations were from:

Answers

The primary source of labor for America's first tobacco, indigo and cotton plantations were from Southern Colonies of America. They were the primary source of labors for tobacco, indigo and cotton plantation. England was the slaving nation that started the Legacy of Slavery.

The primary source of labor for America's early tobacco, indigo, and cotton plantations was enslaved Africans, who replaced the initial system of indentured servitude as the need for labor grew with the expansion of plantations in the New World.

The primary source of labor for America's first tobacco, indigo, and cotton plantations were enslaved Africans. Initially, indentured servitude was the main labor force in the English colonies, but as the colonies expanded and the need for labor increased, this system was replaced by chattel slavery.

Tobacco plantations in the Chesapeake region, such as Virginia and Maryland, indigo plantations in South Carolina, and cotton production throughout the southern colonies were heavily reliant on the labor of enslaved Africans.

To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program.

Answers

The correct answer is substantial. In other words, you want a large enough group to target so that the marketing program has a better change of reaching your intended audience. If you were to choose a smaller market segment, you would have less of a chance of accurately reaching your target market.

A useful market segment should be substantial, meaning it is the largest homogeneous group that is worthwhile targeting with a custom marketing strategy. Effective segmentation helps identify profitable segments for better marketing focus.

To be useful, a market segment should be substantial, which means the largest possible homogeneous group worth going after with a tailored marketing program. Effective market segmentation ensures that the segment is large enough to be profitable. Businesses often divide the broader market into smaller, distinguishable groups based on various characteristics such as demographics, attitudes, or purchase behaviors to better target their marketing efforts.It is important for companies to conduct thorough market research to identify substantial segments. This not only helps in creating tailored marketing strategies but also in optimizing resources to achieve higher efficiency.
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Read the passage.excerpt from The Autobiography of Benjamin FranklinThe Autobiography of Benjamin Franklin is divided into four parts and documents Franklins life from 1771 to 1790. My elder brothers were all put apprentices to different trades. I was put to the grammar-school at eight years of age, my father intending to devote me, as the tithe of his sons, to the service of the Church. My early readiness in learning to read (which must have been very early, as I do not remember when I could not read), and the opinion of all his friends, that I should certainly make a good scholar, encouraged him in this purpose of his. My uncle Benjamin, too, approved of it and proposed to give me all his short-hand volumes of sermons, I suppose as a stock to set up with if I would learn his character. 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