Crane Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 150 $4 $600 12 Purchase 450 2,250 23 Purchase 400 6 2,400 30 Inventory 80 Assume a sale of 500 units occurred on June 15 for a selling price of $7 and a sale of 420 units on June 27 for $8.

Q: Explain the difference between the terms FOB destination and FOB shipping point.

A: Inventory at the end of financial year to be shown in balance sheet , should means the inventory ,…

Q: How I can calculate the gross margin?

A: Gross margin formula Sale-Cost of goods sold

Q: Define Expenses

A: Expenses are the cost that is incurred by the firm or the company to run the business. Basically,…

Q: How do you calculate Cost of goods purchased

A: Cost of goods purchased (COGP) refers to the total cost incurred by a company to purchase inventory…

Q: What are the uses of Straight-Line Rents?

A: The question is based on the concept of straight line method of rent calculation, in accounting…

Q: What is shelf registration?

A: Answer: Shelf registration is subject to Securities and Exchange Commission SEC Rule 415 of the…

Q: Assign costs to unitsusing the FIFO method.

A: FIFO Method:   It is a method of inventory costing where the inventory purchased first is the first…

Q: Discuss the difference between the Rsquared and the adjusted R squared

A: R-squared tells you how well your model explains the variation in your data, while adjusted…

Q: When is slicing and dicing a suitable OLAP tool? Give an example.

A: Here Is The Answer

Q: Define the term Markel/book ratio?

A: Different financial valuations metrics will be used to evaluate and to understand the company’s…

Q: How do i find the cm per unit

A: Formula: Contribution margin per unit = Sales price - variable cost per unit. Deduction of variable…

Q: Define each of the following terms:d. Flotation cost, F

A: Primary market is the place where company sells or offers new equity shares to the investors. New…

Q: Define the term daily-balance approach?

A: The consideration of interest for a particular amount invested for a particular period is the…

Q: What is meant by noting of bill ?

A: Meaning of Noting of BillWhen a bill (draft or promissory note) has been presented for acceptance or…

Q: What is Cost account payable

A: All variable costs are reduced from sales revenue to get at a contribution margin, from which all…

Q: Define Purchase return.

A: Financial accounting is the process of recording, summarizing, and reporting all the transactions in…

Q: How do you get total of period cost?

A: Period Costs are not directly associated with the finished products manufactured, rather associated…

Q: COSTING METHOD. 1. What is average cost method? 2. What is FIFO cost method?

A: Solution: 1.   Average cost method: Average cost method is also known as weighted average method.…

Q: how to do a cost of prodution report

A: The cost of production report is prepared by the following four steps

Q: Explain Pass-Through Rates, Yields, and Servicing Fee?

A: Pass-through rateA rate of interest being paid to the investors on the securitized asset after…

Q: What does the word "overhead application rate" mean?

A: Overhead is a term that refers to a continuous   The term "overhead application rate" refers to the…

Q: What are the usefulness of the gross margin method?

A:

Q: What is a standard cost? Explain? Give an example?

A: Standard Cost: Standard cost is the benchmark amount of per unit product, per unit input or per unit…

Q: can you explain how to get the opening balances

A: Opening balances of the account is the balance of an account which it is having at the beginning of…

Q: hat is a contractive account and what is a cost to date account

A: Accounting is the practice of keeping track of a company's financial activities. Summarizing,…

Q: What is life-cycle and/or full-cost accounting? IS THERE A DIFFERENCE?

A: In this question, we have to tell about life-cycle costing and full cost accounting, whether these…

Q: What is the carryover amount?

A: Introduction Capital losses may be defined as the decrease in the value of capital assets of the…

Q: Describe how changes in the demand, ordering cost,or holding cost affect the EOQ.

A: Conceptual base- Economic Order Quantity (EOQ) is the order quantity that minimizes total inventory…

Q: What is a sweep?

A: A sweep account is a bank account or brokerage account that will automatically transfers amounts…

Q: What do you mean by roll-forward procedure and rollover method? Difference between roll-forward…

A: Roll Forward Procedure The roll-forward process means checks that will be carried out in the…

Q: When is it necessary to estimate inventories?

A: Inventories are resources which are held to be sold in the market. Inventories can be in the form of…

Q: What is cost approach measurement?

A: A process that involves finding out the economic value or the fair value of a business entity refers…

Q: Distinguish between sacrificing ratio and gaining tab.

A: Partnership: This is the form of business entity which is formed by an agreement, owned and managed…