Further Results on the Efficiency of Markets
for Foreign Exchange
Richard M. Levich*
After more than five years of floating exchange rates, there remains
serious and fundamental disagreement about how floating exchange rates
have worked. It
The goods should not be included in inventoryastheywereshipped
FOB shipping point and shipped February 26. Title to the goods
Introduction to Managerial Accounting
Direct materials cost = $42,000 (Note: Excludes the cost of thread and buttons. These
costs are probably not traced to individuals units, and are included as indirect materials,
or manufacturing o
1. On Nov. 28, Cherry Co. purchased inventory of $7,200 cash.
2. On Nov. 30, Cherry Co. purchased inventory of $60,000 on account under terms
2/15, n/45, and FOB shipping point.
3. On Dec. 4, Cherry Co. found $3,000 of unsuitable merchandise. Cherry Co.
Job Order Costing
Food and nutritional supplements
Nutritional counseling ($15 per hour)
Personal fitness training ($20 per hour)
Total Cost to Serve