c. Expected selling price less expected cost to completed. Estimated selling price less estimated cost to completeProblem 12-19 Multiple choice (IAA)1. Net realizable value isa. Current replacement costb. Estimated selling priceand cost of disposaland cost of disposal2. Inventories are usually written down to net realizable valuea. Item by itemb. By classificationс. Вy totald. By segment3. LCNRV is best described as thea. Reporting of a loss when there is a decrease in thefuture utility below the original cost.b. Method of determining cost of goods sold.c. Assumption to determine inventory flow.d. Change in inventory value to net realizable value.4. LCNRV of inventorya. Is always either the net realizable value or cost.b. Must be equal to net realizable vlaue.c. May sometimes be less than net realizable value.d. Must be equal to estimated selling price less cost tocomplete and cost of disposal.5. Which statement is true regarding inventory writedownand reversal of writedown?a. Reversal of inventory writedown is prohibited.b. Separate reporting of reversal of inventory writedownis required.c. An entity is required to record an inventorywritedown in a separate loss account.d. All of the choices are correct.

Since you have asked multiple questions, we will solve the first question for you . If you want any…

Answered: d. Estimated selling price less…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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13. In deciding whether to produce a part internally or buy it from an external source, a cost that is irrelevant is: i. direct materials ii. avoidable costs iii. cost that will continue irrespective of decision made iv. common or allocated fixed costs Multiple Choice a)iii only b)iii and iv c)i only d)i, ii and iii e)ii and iii
27) Which among the following cost encourage management to focus on life cycle costing? a. All the options listed b. Maintenance costs c. Repair costs d. Warranty costs
Using a physical measurement method, what amount of joint processing cost is allocated to Product B? c. P1,311.00 d. P3,495.00 b. P2,447.00 a. P1,748.00 Using the sales value at split-off point method, what of amount of joint processing cost is allocated to Product A? c. P1,108.00 b. P2,276.00 a. P4,433.00 d. P1,182.00 Using net realizable value after split-off point method, what amount of joint processing cost is allocated to Product C? d. P4,263.00 c. P2,375.00 b. P1,550.00 a. P1,017.00
Required: 1. The carrying value of ending inventory under variable costing would be? 2. Under absorption costing, the cost of good sold would be?
Ma1. To arrive at Net ADR Yield, Select one: a. fees associated with distribution channel are subtracted from selling price. b. distribution channel fees are subtracted from standard ADR and the result is divided by Revenue per Available Room (RevPar). c. Net Room Rate is divided by standard ADR. d. the cost of fees associated with the specific distribution channel responsible for a room's sale are divided by the room’s selling price. Clear my choice
ASAP Kindly give a full explanation for each option why it is correct or why others are wrong 1 Both the equivalent units schedules and the physical flow are prerequisites to calculating the a) unit cost. b) cost reconciliation. c) weighted average. d) operating costs
In the process of finding the optimum order quantity the following costs are obtained per order or per unit annually. Inspection Cost = SR 4 Cost of Interest = SR 4 Insurance Cost = SR 2 Administration Cost = SR 4 Obsolescence = SR 3 Depreciation Cost = SR 2 Breakage Cost = SR 2 Given that the annual Demand is 500,000. Number of order?
1. Activity based costing is likely a more advantageous costing methold versus traditonal costing, to facilliate which of the following type of analysis? a) analysis of service organization cost b) analysis of channel profitablity c) analysis of long term profitablity d) analysis for reduction selling price of all products? 2. A ___ is any factor that causes a change in the cost of an activity. a) activity based cost b) cost pool c) cost driver d) standard 3. Which of the following is no a basic cost category for indirect cost? a) inventory financing cost b) Volume related cost c) Product batch cost d) activity based cost
Match each of the statements to the correct stem. 1. In a make or buy decision, a. The selling price is a cash inflow 2. In a special order decision, b. The selling price is cashoutflow 3. In a process further decision, c. The cost of the joint product is not relevant.
Required:a) Compute the cost per unit under absorption and variable costing method.b) Prepare the Statement of Profit or Loss under variable and absorption costing for theyear ended 31 December 2021.
Requirements: (kindly answer the third requirement only) 3. Cost of the following under weighted average method a. Completed and transferred b. In process, end
Required : i) List the alternatives facing Zee Manufacturing with respect to production of component S6 . ii) List the relevant costs for each alternative if Zee decides to purchase the component from Bryan . Predict whether the operating income will increase or decrease and better alternatives . b) Refer to the information for Zee Manufacturing above . Assume that 75 % of Zee Manufacturing's fixed overhead for component S6 would be eliminated if that component were no longer produced . Required : If Zee decides to purchase the component from Bryan , predict whether the operating income will increase or decrease and propose the better alternatives .

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