hBasil Company had the following activity in its inventory account during March 2021: Date Activity Units Cost per unit Total unit costs March 1 Beginning Inventory 100 $4.00 $400.00 March 3 Purchase 1 45 4.05 182.25 March 5 Sale 1 50 9.00 450.00 March 9 Purchase 2 60 4.75 285.00 March 12 Sale 2 70 10.00 700.00 March 14 Purchase 3 10 5.00 50.00 March 15 Sale 3 30 12.00 360.00 March 30 Purchase 4 35 5.05 176.75 Based on this information, what is the cost of goods sold for the month ended March 31, 2021, for Basil Company if the company uses perpetual LIFO as its inventory valuation method

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)