Are the following statements true or false?Statement True FalseIn periods of r-新东方在线职业题库

Are the following statements true or false?

Statement True False

In periods of rising prices, FIFO gives a higher valuation of

closing inventory than LIFO or AVCO.

In periods of falling prices, LIFO gives a higher valuation of

issues of inventory than FIFO or AVCO.

AVCO would normally be expected to produce a valuation of

closing inventory somewhere between valuations FIFO and LIFO.

FIFO costs issues of inventory at the most recent purchase price.

AVCO costs issues of inventory at the oldest purchase price.

LIFO costs issues of inventory at the oldest purchase price.

FIFO values closing inventory at the most recent purchase price.

LIFO values closing inventory at the most recent purchase price.

AVCO values closing inventory at the latest purchase price.

Chapter6Accountingformaterials

Statement True False

In periods of rising prices, FIFO gives a higher valuation of 对

closing inventory than LIFO or AVCO.

In periods of falling prices, LIFO gives a higher valuation of 对

issues of inventory than FIFO or AVCO.

AVCO would normally be expected to produce a valuation of 对

closing inventory somewhere between valuations FIFO and LIFO.

FIFO costs issues of inventory at the most recent purchase price. 对

AVCO costs issues of inventory at the oldest purchase price. 对

LIFO costs issues of inventory at the oldest purchase price. 对

FIFO values closing inventory at the most recent purchase price. 对

LIFO values closing inventory at the most recent purchase price. 对

AVCO values closing inventory at the latest purchase price. 对

多做几道

What does an adverse variable overhead efficiency variance indicate and what might be the cause?

Explain briefly the possible causes of

(i) A favourable material usage variance

(ii) A favourable labour rate variance

(iii) An adverse sales volume contribution variance.

What is the relationship between the labour efficiency variance and the variable overhead efficiency variance? Why might the monetary value be different?

Explain the meaning and relevance of interdependence of variances when reporting to managers.

A balanced scorecard measures performance 什om four perspectives: customer satisfaction, growth, financial success and process efficiency. Briefly explain these processes.