Cost of goods sold is equal to
a. the cost of inventory on hand at the end of a period plus net purchases minus the cost of inventory on hand at the beginning of a period.
b. the cost of inventory on hand at the beginning of a period minus net purchases plus the cost of inventory on hand at the end of a period.
c. the cost of inventory on hand at the beginning of a period plus net sales minus the cost of inventory on hand at the end of a period.
d. the cost of inventory on hand at the beginning of a period plus net purchases minus the cost of inventory on hand at the end of a period.
D
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The Marino Company has provided you the following information pertaining to its defined benefit pension plan that was adopted on January 1, 2018:The service cost was $950,000 during 2018 and $1,045,000 during 2019.
The prior service cost amortization each year was $290,000. The contribution to the pension plan was $1,500,000 on December 31, 2018 and $1,800,000 on December 31, 2019. The actuarially determined discount rate and the expected return on plan assets was 10%. The actual return on plan assets was 9.5%. Retirement benefits pertaining to years of service prior to 2018 were granted to the employees. The prior service cost is being amortized over the remaining ten-year life of the employees. What is the balance of the projected benefit obligation as of December 31, 2019? A. $2,575,000 B. $5,599,000 C. $2,090,000 D. $4,895,000
Why should a decision maker engage in sensitivity analysis?
What will be an ideal response?
A manager is more likely to investigate the variance for a cost that is controllable by someone in the organization than one that is not.
Answer the following statement true (T) or false (F)
Assets other than cash are expected to produce cash over time, but the amount of cash they eventually produce could be higher or lower than the amounts at which the assets are carried on the books.
Answer the following statement true (T) or false (F)