__________________________ are intentional mistakes while __________________________ are unintentional mistakes
Fill in the blank(s) with correct word
Irregularities, Errors
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Profit is the difference between
A) assets and liabilities B) the incoming cash and outgoing cash C) the assets purchased with cash contributed by the owner and the cash spent to operate the business D) the assets received for goods and services and the amounts used to provide the goods and services
Consider the data on Inventory of Widgets Over a 10-Day Period. Any time that ending inventory falls to 15 or below, an order is placed for 20 units of the product. The lead time for delivery varies and is shown in the column under Lead Time. If the cost of holding inventory amounts to $7 per widget per day, what are the total inventory costs during the 10-day period?
a. $805
b. $115
c. $7
d. $122
A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions
Indicate whether the statement is true or false
Sumptuous Beer Corporation manufactures beer in two departments, Fermenting and Bottling. In the Fermenting Department, ingredients are placed in a large vat and fermented for three days. The beer is then transferred over to Bottling where it is further purified and bottled. Sumptuous uses a FIFO process cost system to collect costs in both departments. On May 1, the Fermenting Department had 32,000 gallons (units) in process. These gallons were 100% complete with respect to materials (ingredients) and 80% complete with respect to conversion cost. During May, Fermenting started an additional 460,000 gallons into production. On May 31, Fermenting had 18,000 gallons in work in process. These gallons were 100% complete with respect to materials and 60% complete with respect to conversion
cost.What are the Fermenting Department's equivalent units (gallons) of production related to materials for May? A. 474,000 B. 460,000 C. 492,000 D. 442,000