Cobblers LA 12 Calculate the lower of cost or market (LCM) value for each individual item. Apply LCM Accounts 8 Debit 11 Quantity. un Credit un un What is the adjusting entry to adjust the inventory after applying LCM? $ LA Total

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A: As posted multiple sub parts questions we are answering only first three sub parts kindly repost the…

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.