When there are no beginning or ending balances in Finished Goods Inventory, variable and absorption costing will result in ________.
A) different amounts for ending Work-in-Process Inventory
B) the same operating income
C) different sales revenue
D) different amounts for cost of goods sold
B) the same operating income
You might also like to view...
Answer the following statements true (T) or false (F)
1) In counting the number of days in a note term, omit the date the note was issued. 2) A five-month note dated October 15, 2019 would mature on February 15, 2020. 3) Interest on a $15,000 note at 4% for 4 months is $200. 4) Interest on a $40,000 note at 10% for 45 days is $493. (Use a 360 day year. Round your answer to the nearest dollar.) 5) In the formula for computing the interest on a note, the time period represents the portion of a year that interest has accrued on the note.
The agreement establishing a free trade area among Canada, the U.S., and Mexico is known by the acronym
Fill in the blank(s) with the appropriate word(s).
Police may never search a person or enter property without a warrant
a. True b. False Indicate whether the statement is true or false
Under the Truth-in-Lending Act, if a creditor violates disclosure requirements, liability will be imposed only if monetary damages to the consumer can be shown
a. True b. False Indicate whether the statement is true or false