Which cost formula for inventory best reflects the current value of inventory on the balance sheet? a. FIFO Ob. Weighted average cost Oc. LIFO Od. Specific identification

Q: Define a fixed against a variable cost and give an example of each?

A: A fixed cost is a cost that does not change with the level of output or activity in a business. It…

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: How do i caculate the fixed cost

A: The objective of this question is to understand how to calculate the fixed cost in a business. Fixed…

Q: What is lower of cost/market, and why is it used? Provide an example.

A: Inventory is a term which depicts the amount of finished goods prevailing in the business. The…

Q: My question is asking the amount of the total variable expense. Please help.

A: Variable expenses are those which do not remain constant. These expense keeps on varying with the…

Q: Why is it difficult to assign a dollar figure to an intangible cost? Can it ever be done? Explain…

A:

Q: What is the varable cost for A? $0.10

A: Variable cost is the cost that changes with the change in production levels. It is directly…

Q: Is there a benefit behind using either FIFO, LIFO, or the weighted average costing method?

A: Yes, there are benefits to using each of the three inventory costing methods - FIFO…

Q: Please explain the calculation of Unit contribution

A: Unit Contribution margin is contribution margin earned per unit It is calculated in 2 ways  Unit…

Q: Explain an example of fixed cost.

A: Cost:   It is the economic value of resources incurred by an organization for producing a product or…

Q: what would be the difference in gross margin between fifo and lifo cost flow assumptions

A: The difference in gross margin between FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) cost…

Q: Which are the causes for any differences in the cost using ABC priciples

A: Costing is a technique in which the different costs incurred by the business entity are analyzed and…

Q: Then, how about the fixed cost and the shipping cost?

A: Special Order: A non-routine or one-time sales order that falls beyond the typical parameters of a…

Q: example of lower of cost or net realizable value and explain

A: The concept of lower of cost or net realizable value says that the amount of inventory should be…