With the assumption of costs and prices generally rising, which of the following is correct? entry field with incorrect answer fifo provides the closest cost of goods sold to replacement cost. specific identification method provides the closest cost of goods sold to replacement cost on the income statement. lifo provides the closest valuation of cost of goods sold to replacement cost of inventory sold. lifo provides the closest valuation of inventory on the balance sheet to replacement cost.

Braverman company has two manufacturing departments—finishing and fabrication. the predetermined overhead rates in finishing and fabrication are $18.00 per direct labor-hour and 110% of direct materials cost, respectively. the company’s direct labor wage rate is $16.00 per hour. the following information pertains to job 700: finishing fabrication direct materials $ 410 $ 60 direct labor $ 128 $ 48 required: 1. what is the total manufacturing cost assigned to job 700? 2. if job 700 consists of 15 units, what is the unit product cost for this job?

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Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price