Lagreca company uses the lcnrv method, on an individual-item basis, in pricing its inventory items. the inventory at december 31, 2017, included product x. relevant per-unit data for product x are as follows.
estimated selling price $50
cost 40
estimated selling costs 14
normal profit 9
there were 1,000 units of product x on hand at december 31, 2017. product x was incorrectly valued at $38 per unit for reporting purposes. all 1,000 units were sold in 2018.

Which is not an example of a cyclical company? a) airlines b) hotel industry c) medical d) theme parks

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?