Under what conditions will the weighted average and FIFO methods give the same results?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (18 reviews)
If the perunit cost of the prior period is the same as the pe...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Question Posted:
Students also viewed these Managerial Accounting questions
-
Multiple Choice Questions 1. Process costing works well whenever a. Heterogeneous products pass through a series of processes and receive different doses of materials, labor, and overhead. b....
-
Manzer Enterprises produces premier raspberry jam. Output is measured in pints. Manzer uses the weighted average method. During January, Manzer had the following production data: Units in process,...
-
Curtis Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for October: During October, 6,000...
-
Draw a graph showing the marginal revenue (MR) and marginal cost (MC) of increasing the tax rate (t) in the Peltzman model of regulation represented by equation (19.1). Place the tax rate on the...
-
The Wall Street Journal/Harris Personal Finance poll asked 2082 adults if they owned a home (All Business website, January 23, 2008). A total of 1249 survey respondents answered Yes. Of the 450...
-
In July 2013, Desmond Schacht opened joint checking and savings accounts with his father Kenneth at Alaska USA Federal Credit Union. Desmond signed Alaska USAs Master Joint Account Agreement as the...
-
How long does it take an ambulance to respond to a request for emergency medical aid? One of the goals of one study was to estimate the response time of ambulances using warning lights (Ho \&...
-
Students in the ACHANCHA survey were asked Within the last 12 months, has stress negatively affected your academics? Figure 2.4(a) shows a segmented bar chart for response frequencies while Figure...
-
8.4 Static Equilibrium -3L/4- L/4- F -Axis of rotation y mg F2 56. Calculate If the two parents in Figure 8.19 exert upward forces of 18 N on the left end of the plank and 71 N on the right end, how...
-
Turner Excavation maintains a checking account and has decided to open a petty cash fund. The following petty cash fund transactions occurred during July: July 2 Established a petty cash fund by...
-
Under the weighted average method, how are prior period costs and output treated? How are they treated under the FIFO method?
-
Multiple Choice Questions 1. During June, Kimbrell Manufacturing completed and transferred out 100,000 units. In EWIP, there were 25,000 units, 80 percent complete. Using the weighted average method,...
-
Solve for the value of beta in each of the following problems. a. H0: = 130 Ha: > 130 n = 75 = 12 = .01. The alternative mean is actually 135. b. H0: = .44 Ha: p < .44 n = 1095 = .05. The...
-
Ashley runs her computer, which consumes energy at an average rate of 8 0 W , for 3 . 4 hours per day. In a month with 3 1 days, what must Ashley pay to cover the cost of the computer s electricity...
-
You are a junior auditor at an accounting firm. Your manager has given you a set of SSARS engagements with two different clients. Your manager has asked you to draft a detailed memo listing the...
-
1. A 10.0kg lab cart, A, is pushed at 6.00m/s directly toward a 20.0kg lab cart, B, moving the opposite direction at 15.0m/s. The two carts collide and and cart A rebounds at 22.0 m/s. A. What is the...
-
A solid shaft in the oscillating bin of a rotary dryer is 0.4 m long. If the angular twist is 4 degrees and is stressed to 40 MPa, compute the required shaft diameter. Use G = 83 GPa, and a safety of...
-
Suppose a bullet travels with uniform motion a distance of 2 m in 0.005 second. If we divide the displacement by the time interval, we get 400 m/s. How do you interpret the number 400 in light of the...
-
Consider the system a. Write the system as a matrix equation in the form AX = B. b. Solve the system using the fact that the inverse of x - y + z +z X -2 = -2y + z = -3 -6 -10.
-
Assume Eq. 6-14 gives the drag force on a pilot plus ejection seat just after they are ejected from a plane traveling horizontally at 1300 km/h. Assume also that the mass of the seat is equal to the...
-
Cool Cruise Lines, Inc., reported the following income statement for the year ended December 31, 2014: Millions Operating revenues ............................................................... $...
-
Elam Marine, Inc., had income before income tax of $ 171,000 and taxable income of $ 152,000 for 2014, the companys first year of operations. The income tax rate is 30%. 1. Make the entry to record...
-
Return to the Fisher Fine Coffees data in S11-3. Fisher Fine Coffees had 10,000 shares of common stock outstanding during 2014. Fisher Fine Coffees declared and paid preferred dividends of $ 5,000...
-
Annuity Payments Go to www.fcfcorp.com/onlinecalc.htm. Use the calculator to solve this problem. If you have $1,500,000 when you retire and want to withdraw an equal amount for the next 30 years, how...
-
Calculating Future Values Go to www.dinkytown.net and follow the Savings Calculator link. If you currently have $10,000 and invest this money at 9 percent, how much will you have in 30 years? Assume...
-
In 2023, Amanda and Jaxon Stuart have a daughter who is 1 year old. The Stuarts are full-time students and are both 23 years old. Their only sources of income are gains from stock they held for three...
Study smarter with the SolutionInn App