This is an example of free rider as he is contributing very little effort to group assignments thinking that others will do enough to get good grade.
Anyone who desires everyone else to pay for a common benefit but expects to be able to use it themselves is considered a free rider; if several people are engaged in this behavior, the common good could never be made available.
Because free riders try to utilize the public good without needing to pay for it, markets commonly find it difficult to generate them. The free rider problem can be resolved by taking steps to ensure that those who use a public good pay for it.
Here Sam is expecting others to put all efforts in the project but not contributing his efforts fully, but only to get common benefit, so this is an example of free rider.
The complete question is here:
Sam has a tendency to contribute little effort to group assignments, as he thinks others will be sure to pick up the slack in an effort to get a good grade. Social psychologists would call Sam a
A.) social facilitator.
B.) free loafer.
C.) free rider.
D.) free loader.
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costs in beginning work in process for the polishing department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $8,000. costs added during the month: direct materials, $32,000; conversion costs, $50,000; and transferred in, $40,000. assume the company uses the fifo method.
The starting costs for the polishing department's work in progress were direct materials ($5,000), conversion costs ($6,000), and transferred in ($8,000), all of which came to $6.6 per comparable unit.
The physical components used to create a good or service are known as direct materials. These are the raw components that go into making the product. Direct materials might be components or finished goods that will be used to create a finished good. Electricity is an example of a direct material, but other examples include wood and metal, which are more tangible.
Direct materials' main objective is to add value for the consumer. A vital component of the production process, direct materials directly affect the calibre of the end product. They also influence how much the end product costs. Direct materials may be obtained from suppliers or created in-house.
Direct Materials Conversion Costs Transferred In
Units completed [4000 + 20000 – 8000] 16,000 16,000 16,000
Ending WIP:
8000 x 100% 8000
8000 x 50%
% 4000 4000
Total equivalent units 20,000 20,000 24,000
Material = (5000 + 32000) / 20000 units = $ 1.85
Conversion Cost = (6000 + 50000) / 20000 units = $ 2.80
Transferred in = (8000 + 40000) / 24000 units = $ 2
Unit Cost = 1.85 + 2.80 + 2 = $ 6.65 per equivalent unit
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question mode multiple choice question a company is currently selling 10,000 units of product for $40 per unit. the unit contribution margin is $27. the company believes that spending $50,000 on advertising will increase sales by 750 units per month and enable them to increase the selling price to $45 per unit. if this change is implemented, profits will blank . multiple choice question. increase by $3,750 decrease by $29,750 increase by $74,000 increase by $24,000
9,500 units will have to be sold to earn $100,000 per year.
Step by step:
($174,000 + $30,000 + $100,000)/($27 + $5 increase in sales price) = 9,500
The answer is 9500 units.
The contribution margin is calculated as sales - Variable costs. The contribution margin ratio is calculated as (revenue - Variable charges) / sales.
The contribution margin ratio is the difference between a company's sales and variable fees, expressed as a percentage.
The full margin generated through an entity represents the total income to be had to pay for constant costs and generate an income.
When a company sells one unit above the wide variety required to break even, the company's net running profits will: exchange from 0 to net operating earnings.
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when a club store (like costco) charges an annual membership, but sells goods at extremely low prices, it is using what economists call a: a excise tax. b inferior good strategy. c two-part tariff. d profit minimizing strategy. e coupon strategy.
When a membership store (like Costco) costs an annual membership, however sells items at extraordinarily low expenses, it's miles the usage of what economists name a: Price discrimination.
The required details for Price discrimination in given paragraph
Price discrimination is a promoting approach that costs clients specific expenses for the identical service or product primarily based totally on what the vendor thinks they are able to get the consumer to agree to. In natural fee discrimination, the vendor costs every consumer the most fee they may pay. Companies exercise fee discrimination in an effort to maximize profits. Since a huge marketplace normally consists of many kinds of purchasers, fee discrimination lets in groups to provide a excessive fee to well-off purchasers and a low fee to the maximum fee-touchy purchasers.
Price discrimination is practiced primarily based totally on the vendor's notion that clients in sure businesses may be requested to pay greater or much less primarily based totally on sure demographics or on how they cost the service or product in question.
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gabriele enterprises has bonds on the market making annual payments, with 7 years to maturity, a par value of $1,000, and selling for $950. at this price, the bonds yield 6.1 percent. what must the coupon rate be on the bonds
The Coupon rate of the Bond is calculated using a financial calculator as follows (Normally, the rate is calculated either using EXCEL Functions or by using Financial Calculator)
Variables Financial Calculator Keys Figure
Par Value/Face Value of the Bond [$1,000] FV 1,000
Coupon Amount PMT ?
Market Interest Rate or Yield to maturity 1/Y 6.00
on the Bond [6.00%]
Maturity Period/Time to Maturity N 7
[7 Years]
Bond Price [-$950] PV -950
We need to set the above figures into the financial calculator to find out the semi-annual coupon amount. After entering the above keys in the financial calculator, we get the annual coupon amount (PMT) = $51.04.
The coupon rate is calculated by dividing the annual coupon amount by the par value of the Bond
So, Annual Coupon Rate = [Annual Coupon Amount / Par Value] x 100
= [$51.04 / $1,000] x 100
= 5.10%
Normally, a bond that matures within one to three years is termed a brief-term bond. Medium or intermediate-term bonds are colloquially people who mature in four to ten years, and long-term bonds are those with an adulthood length this is extra than 10 years. A not unusual lengthy-time period device is a 30-yr Treasury bond.
A maturity date is a date when the very last fee is due for a mortgage, bond, or different financial product. It also shows the period of time wherein investors or creditors will get hold of hobby bills. Right here's how adulthood dates work for loans and investments.
A bond's term to maturity is the duration of time in the course of which the owner will get hold of interest bills at the funding. While the bond reaches maturity the importance is repaid.
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normally, an athletic clothing company uses an imported fabric blend in its clothing line. however, a price increase from its existing supplier is forcing the company to look elsewhere and find a different company to source these fabric blends. in the b2b buying process, this is an example of
In the B2B buying technique, this action of FlexFit Athletic organization to supply its material blends from an exceptional agency due to the charge increase from their existing dealer is an instance of want recognition.
Want recognition is the perception of an opening between cutting-edge instances and preferred conditions.
Need reputation is always precipitated by means of either inner or outside stimuli.
For example, the charge growth through the existing provider is an external stimulus that caused FlexFit to recognize its want to have a couple of dealers of its fabric blends.
Thus, this motion of FlexFit Athletic organization to source its material blends from a unique organization due to the price increase from their current provider is an instance of want recognition.
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Saving money for a purchase and letting the interest work for you rather than against you.
Saving money for a purchase and letting the interest work for you rather than against you sinking fund.
What is interest?
In the fields of finance and economics, interest is the payment of a sum over and above the principal amount to a lender or depositor by a borrower as well as deposit-taking financial institution at a set rate. It is not the same as a fee that the borrower might pay to the lender or another party. It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit as well as reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a share of the reward received by risk-taking businesspeople when revenue is earned that exceeds all costs.
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A name used by a sole proprietorship for a business instead of the proprietor’s actual name is called?.
The name used by a sole proprietorship for a business instead of the proprietor’s actual name is called trade name.
A sole proprietorship, also known as a sole proprietor, is not an incorporated business only with one owner who is liable for paying all taxes, debts etc. Since it isn't necessary to register a separate business or trade name, many sole proprietors function under their individual identities.
Due to a lack of governmental oversight, a sole proprietorship is the easiest uncomplicated business type to establish or liquidate. Sole proprietorship is easiest to establish as well as it has several benefits such as single decision-making rights, enjoy all profits himself as well as manage everything by himself.
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for several years in a row, the east coast cities of the nation suffered extremely cold winters. demand for home heating oil was very inelastic. how did the elasticity of supply impact the changes in price that resulted from the increased demand?
Supply is inelastic, therefore, the price increased more than it otherwise would have.
Elasticity of supply is a term in the world of economics to define the effect on the level of sensitivity to changes in the number of goods offered related to changes in the price of these goods. The elasticity of supply is then seen from the so-called coefficient of elasticity of supply, which is the number or percentage comparison between changes in the price of goods and changes in the number of goods offered.
The occurrence of this elasticity of supply is highly dependent on a number of factors, namely:
Availability of goods (source availability).The number of producers who produce these goods (producer amount).Technological innovation (innovation of technology).You can learn more about Elasticity of supply here brainly.com/question/28192591
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joint taxpayer filing a return with an agi of $105,000, $6,500 in mortgage interest paid, and $1,200 in mortgage insurance premiums paid has what potential maximum deduction for mortgage interest in ty2021?
The potential maximum deduction for mortgage interest in 2021 would be $6,500. This is because the taxpayer's AGI is above the threshold for the deduction and they have paid mortgage interest during the year.
What is mortgage interest?
The interest charged on the a lender used to buy a piece of property is referred to as mortgage interest. The percentage of a total amount of a mortgage that the lender issued that is used to determine the sum of interest due. Mortgage interest can be fixed or variable and compounds. In the initial phase of the loan, the majority of the borrower's payment goes forward into mortgage interest. In order to finance the purchase of a home or some other piece of property, the majority of consumers need a mortgage. In a mortgage agreement, this same borrower commits to paying the lender on time every month for a predetermined period of time, or until the loan is fully repaid or refinanced. A principal portion as well as interest are included in the mortgage payment.
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________ flows involve money transfers, payments, credit card information and authorization, payment schedules, e-payments, and credit-related data.
Financial flows involve money transfers, payments, credit card information and authorization, payment schedules, e-payments, and credit-related data.
In the field of business, financial flow can be described as the evaluation of where a person or a business is spending or gaining money. It also refers to analyzing where money is being consumed. Financial flow describes the expenditures of revenue and the ways money was either gained or consumed by you.
All of the payments that you make, either online, via credit cards, or by hand are assessed in financial flows.
Financial flow is also referred to as cash flow in the field of business.
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the supplies account in the unadjusted trial balance columns has a debit balance of $4,000. there is a $1,500 credit adjustment in the adjustments columns across from the supplies account. describe how to compute the supplies account balance on the adjusted trial balance. multiple choice question. the $1,500 credit adjustment would be subtracted from the $4,000 debit balance in the unadjusted trial balance. the unadjusted trial balance of $4,000 would be carried over to the adjusted trial balance columns. the $1,500 credit adjustment would be added to the $4,000 debit balance in the unadjusted trial balance. the $1,500 credit adjustment would be carried over to the credit column of the adjusted trial balance columns.
How to compute the supplies account balance on the adjusted trial balance is: a. The $1,500 credit adjustment would be subtracted from the $4,000 debit balance in the Unadjusted Trial Balance.
Supplies account balanceGiven:
Debit balance = $4,000
Credit adjustment = $1,500
Hence,
The amount of $1,500 which is the credit adjustment would be deducted from the amount of $4,000 which is debit balance in the unadjusted Trial Balance which will inturn gives us $2,500 ($4,000 - $1,500).
The $2,500 will be the amount that will balance the trial balance which implies that the debit and credit side of the trial balance will now be equal.
Therefore the correct option is A.
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the table shows the cost and revenue information for a perfectly (or purely) competitive firm that produces external hard drives. use whole numbers to answer the six questions. quantity (units) fixed cost ($) variable cost ($) total revenue ($) 10 100 36 1,000 11 100 74 1,100 12 100 145 1,200 13 100 202 1,300 14 100 300 1,400 15 100 435 1,500 16 100 588 1,600 17 100 774 1,700 what is the marginal revenue received from the 11th unit? $ what is the marginal cost of producing the 11th unit? $ what price does this firm charge for each hard drive? $ per unit how many units should this firm produce to maximize profits? units when profit maximizing, what is this firm's profit?
a) The marginal revenue received from the 11th unit is $100.
b) The marginal cost of producing the 11th unit is $38 ($74 - $36).
c) The price the firm charges for each hard derive is $100 per unit.
d) The number of units this firm should produce to maximize profits is 14.
e) The firm's profits at the profit-maximizing level are $1,000.
What are the marginal revenue and marginal cost?The marginal revenue is the additional revenue generated by the firm in producing the 11th, 12th, or 13th units, etc.
The marginal cost is the additional cost the firm incurs when it produces an additional unit.
Quantity (units) Fixed cost ($) Variable cost ($) Total revenue ($) Profit
10 100 36 1,000 $864
11 100 74 1,100 $926
12 100 145 1,200 $955
13 100 202 1,300 $998
14 100 300 1,400 $1,000
15 100 435 1,500 $965
16 100 588 1,600 $912
17 100 774 1,700 $826
a) The marginal revenue from the 11th unit = $100 ($1,100 - $1,000).
b) Marginal cost for the 11th unit = $38 ($74 - $36).
c) Price per hard derive = $100 ($1,700/17).
In situations (d) and (e), the profit-maximizing units (14) ensure the highest profit as indicated in the table. After this level, as the firm increases production, its profits continue to decline.
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nike, inc. markets several types of athletic shoes, along with clothing and fitness equipment. in other words, nike has a. many product classes. b. a battle of the brands. c. no product assortment. d. several product lines. e. product components.
Nike, Inc. markets numerous styles of athletic shoes, together with apparel and health equipment. in different words, Nike has numerous product strains.
The required details for product line in given paragraph
A product line is a collection of merchandise that a enterprise creates beneath a unmarried brand. The merchandise are comparable and cognizance at the identical marketplace sector. Maybe their characteristic or channel distribution are the identical or comparable. Perhaps their bodily attributes, prices, quality, or sort of clients are the identical. We name the activity product lining. A enterprise could have multiple product line. The variety of product strains it has displays its resources, i.e., how effective it is.
Product line numbers may additionally display the opposite gamers within side the market how aggressive the enterprise is. In this context, the term ‘market’ approach the identical as ‘marketplace’ in its summary sense.
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Chang and chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following _______ strategy.
Chang and Chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following "Follow the Leader" strategy.
A competitive pricing approach called "follow-the-leader pricing" involves a company matching the costs and quality of the market leader. In other words, a business will adopt the price strategy used by the dominant player in its sector. For instance, the business will cut its pricing to the same level when the industry leader drops the cost of its products.Follow-the-leader pricing may compel the company to make constant price adjustments, especially if the market leader actively combats this tactic by adjusting prices up and down all the time. Price wars might result, though.Follow-the-leader pricing is a competitor-based pricing approach; other techniques involve pricing that is determined by the consumer or by the cost.Learn more about Follow-the-leader, here
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which of the following is a primary authority on which to base research conclusions? multiple choice textbook used in this class a treatise written by a tax attorney and published in a legal journal an editorial explanation in a commercial tax service a treasury regulation
A Treasury regulation is primary authority on which to base research conclusions.
The Internal Revenue Service (IRS), a branch of the Treasury Department of the United States, issues the tax regulations known as the Treasury Regulations. These regulations serve as the Treasury Department's official interpretation of the Internal Revenue Code and are one source of U.S. federal income tax law.
Under this authority, the Secretary of the Treasury may publish final regulations. As it works to enact final regulations, the Treasury publishes draught or interim regulations. The proposed regulations go into effect when testimony and objections are gathered ("notice and comment") and a final standard is published.
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George has $625 in monthly debt obligations, and his anticipated mortgage payment is $1,828. His gross income is $9,869, and his net income is $7,895. What’s his housing ratio?
18.52% is the housing ratio.
A ratio can be described as the relationship or assessment among numbers of the equal unit to check how large is one range than the opportunity one. for instance, if the huge variety of marks scored in a test is 7 out of 10, then the ratio of marks received to the whole amount of marks is written as 7:10.
Ratios allow us to degree and precise quantities by way of creating them less difficult to understand. Examples of ratios in life: the auto has become touring 60 miles regular with an hour or 60 miles in 1 hour. you've got were given a 1 in 28,000,000 threat of winning the lottery.
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Professor browning assigns students a twenty-minute speech as part of their class requirements, in discovering the general purpose, which is not a type of speech to consider?.
Professor browning assigns students a twenty-minute speech as part of their class needs, in discovering the overall goal, Credible is not a type of speech to consider.
People who are seen as credible have a certain set of characteristics that they actively cultivate. In order for both sides to feel sure that agreements will be kept, a credible organization is the cornerstone of every owner-employee or business-client relationship. Credibility serves as a beacon of confidence that your company is worthy of the cash and time that customers and employees put in it. Your organization has to have credibility in order to draw in investors, customers, and staff. Additionally, it can help you when asking credit extensions, negotiating loan conditions, resolving production problems, and applying for loans.
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temp trove rewards the employee who completes his or her projects before the due date by giving ten percent of his or her basic pay as incentives. in this scenario, temp trove is rewarding the employee who is considered a(n) . a. opinion leader b. bureaucrat c. rate buster d. soldier
Employee perks include financial compensation and transient incentives.
A Employers company's or an organization's employees profit from both monetary rewards and transient motivations. Financial incentives, such as cash or other forms of remuneration, are ones that a company gives to a worker in addition to a pay transient incentives..
Additionally, businesses offer their staff short-term incentives including bonuses, raises, awards for achievement, health and wellbeing, and amusing presents.
Therefore, financial gains are quantifiable cash prizes given for achievements. Employers frequently utilize monetary incentives and transient incentives to motivate staff to achieve their objectives.
Temp Trove rewards the employee who complains his or her projects before the due date by giving ten percent of his or her basic pay as incentives transient incentives.
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Match each of Maslow's Hierarchy Tiers to examples of needs in that tier.
Dignity, respect, admiration, and achievement
Air, water, food, warmth, and sleep
Shelter, stability, and freedom from fear
Friendship, affection, and being part of a group
Personal growth and amazing experiences
1. Maslow's Hierarchy Tier 1: Physiological 2. Maslow's Hierarchy Tier 2: Safety 3. Maslow's Hierarchy Tier 3: Love and belongingness 4. Maslow's Hierarchy Tier 4: Esteem 5. Maslow's Hierarchy Tier 5: Self-actualization
Each of Maslow's Hierarchy Tiers should be matched to examples of needs in that tier as follows:
Maslow's Hierarchy Tier 1: Physiological; air, water, food, warmth, and sleep. Maslow's Hierarchy Tier 2: Safety; shelter, stability, and freedom from fear.Maslow's Hierarchy Tier 3: Love and belongingness; friendship, affection, and being part of a group.Maslow's Hierarchy Tier 4: Esteem; dignity, respect, admiration, and achievement.Maslow's Hierarchy Tier 5: Self-actualization; personal growth and amazing experiences.What is Maslow's Hierarchy of Needs?Abraham Maslow's Hierarchy of Needs can be defined as a pyramid model which typically represents the fundamental (basic) needs of an individual, that are necessary and required to be met before he or she can achieve complete personal growth, dignity, development, stability, and self-actualization.
The five (5) levels of Maslow's Hierarchy of Needs.In Psychology, the five (5) levels of Maslow's Hierarchy of human needs arranged in a chronological order include the following;
Physiological needs.Safety needs.Belonging and loveSocial needs or esteemSelf-actualization.Read more on Maslow's Hierarchy here: https://brainly.com/question/19040822
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a new specialty spice shop opened up in town. in order to lure customers into the store, the owners sent a packet of its most popular spice mix to 3,000 potential customers. this is an example of
A new specialty spice shop opened up in town. In order to lure customers into the store, the owners sent a packet of its most popular spice mix to 3,000 potential customers. This is an example of Product sampling.
When customers may test out tiny samples of your product without having to pay for it, this is known as product sampling. For a retail shop, product sampling can provide a number of advantages. Marketers may gather influencer endorsements, provide statistics to support a product, and demonstrate other customers utilizing the product. However, there are situations when customers won't buy from you until they sample it first. They can do that for no cost thanks to product samples.
Cutting through this noise and influencing a customers to make a good purchase choice is offering a product sample. They may use it themselves, gaining firsthand knowledge that makes it easier to assess and comprehend a solution.
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Once sales and profits decrease for a product, the product is in the stage of the product life cycle.
Maturity. In the maturity stage, sales slow down, indicating that the market has begun to reach saturation. This is also one of the stages of the product life cycle when pricing becomes competitive.
Maturity is a measurement of the ability of an organization for non-stop development in a selected discipline (as defined in O-ISM3[dubious – discuss]). The better the adulthood, the better can be the chances that incidents or errors will lead to improvements either inside the first-class or inside the use of the sources of the area as implemented by using the business enterprise. Most maturity models check qualitatively humans/culture, tactics/systems, and items/eras. Two procedures for enforcing maturity fashions exist. With a pinnacle-down technique, which includes proposed by using Becker et al., a set variety of adulthood stages or tiers is certainly first and in addition corroborated with characteristics (normally in form of particular evaluation gadgets) that help the initial assumptions approximately how maturity evolves.
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you purchased a one-year ibm bond with a face value of $10,000 and an interest rate of 25%. suddenly the market interest rate changed, which raised your bond price by $600. based on the given information, calculate the current market interest rate (rounded to the nearest whole percentage).
The current market Interest rate will be equal to 16%.
A bond may be defined as the security instruments or debt security which are similar to loans and are made to the issuer on several terms and conditions to pay the principles of the bond on the date of maturity along with the interest earned over it in a specific period of time. This question can be solved by using formula of Interest rate. There is a need to figure out the price of bond when it is purchased. Let us assume the bond price as $x. Since the bond has initial interest rate of 25%, the following situation must be true, that is
[($10,000 - $x) ÷ $x] × 100 = 25.
On Solving the above expression, the value of x = $8,000.
So, the bond price was $8,000 when the interest rate was 25%. Since the price of bond increased by $600, the new bond price must be $8,600. This might have happened due to a decline in the interest rate. Now, we use the formula for interest rate that is
R = [(Face value - new bond price) ÷ new bond price] × 100
R = [($10,000 - $8,600) ÷ $8,600] × 100 = 16%.
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a manufacturer reports the following costs to produce 11,000 units in its first year of operations: direct materials, $11 per unit, direct labor, $7 per unit, variable overhead, $55,000, and fixed overhead, $143,000. the total product cost per unit under absorption costing is:
The total product cost per unit under absorption costing is: $75.
In absorption costing, the cost of every unit produced is worked out by adding up the direct cost of materials, direct labor, variable overhead, and the fixed overhead. Unlike in the case of marginal costing where the fixed cost is treated as period cost, in absorption costing, fixed cost is treated as a product cost.
The cost per unit
$
Direct material 28
Direct labor 24
Variable overhead 10
Fixed cost 13
Cost per unit 75
Cost of Inventory
Number of units = 1000
Cost per unit = $75
Value = 1000 * $75 = $75,000
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which school of economics warns that human economic systems could exceed the capacity of the environment to handle the pollutants and wastes we produce?
Socialist school of economics warns that human economic systems could exceed the capacity of the environment to handle the pollutants and wastes we produce.
What are the features of socialist economics?In socialist , all means of production are owned by the community, i.e., Government, and individual can not hold private property beyond certain limit. Therefore, it is government who utilises these resources for the interest of social welfare.
What is the main aim of socialist economy?Socialists actually aim to gain greater equality in decision-making and economic affairs, grant workers more control of the means of production and their workplace and to remove exploitation by directing the surplus value to employees.
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a company had beginning inventory of 12 units at a cost of $24 each on march 1. on march 2, it purchased 12 units at $42 each. on march 6 it purchased 7 units at $29 each. on march 8, it sold 28 units for $72 each. using the fifo perpetual inventory method, what was the cost of the 28 units sold?
The calculation of cost by using Perpetual FIFO inventory method is $908.
Perpetual FIFO inventory method can be defined as a cost flow tracking system under which the first unit of inventory acquired is presumed to be the first unit consumed or sold. Perpetual FIFO inventory method can be determine by using the cost of your oldest inventory and multiply that cost by the amount of inventory sold. In the other side, to calculate LIFO (Last-in, First-Out) determine the cost of your most recent inventory and multiply it by the amount of inventory sold.
The calculation of cost by using Perpetual FIFO inventory method is:
The cost = (12.$24) + (12.$42) + (4*$29) = $908
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is a type of union security clause that is especially important to many union workers because of all the mergers, downsizings, and job reductions that take place.
The no-layoff policy is a type of union security clause that is especially important to many union workers because of all the mergers, downsizings, and job reductions that take place.
What is meant by the no lay off clause?This is the terminology that is used to refer to the policy that is sued to secure the job of workers in an economy.
What this policy dictates is that no one that is a worker in an economy would have to be laid off in any form due to the economic situation that is in the nation.
The clause helps to ensure that workers are able to maintain their jobs no matter what is going on.
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when there is a breach of a contract and damages, the difference between the value of the contract as it had been promised and the value of the performance which was actually given is a measurement of:
The difference between the value of the contract as it had been promised and the value of the performance which was actually given is a measurement of: loss of value
What is the meaning of breach of contract?
A breach of contract happens when one party in a binding agreement fails to deliver according to the terms and condition of the agreement. A breach of contract may happen in either a written or an oral contract. The parties entered in a breach of contract may resolve the issue among themselves, or in a court of law.
What is consequences and remedies of breach of contract?There are many types of damages to discuss under the breach of contract. Remedies for breach of contract consist of suit for damages, suit for specific performance, eliminate the contract, stop the other party from doing something.
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if a company has adopted the make-to-stock strategy, what is the trigger for the production of goods? need to increase inventory customer order request for quotation customer inquiry billing document
If a company has adopted the make-to-stock strategy, Need to increase inventory is the trigger for the production of goods.
A better strategy, experts say, is to make new investments at regular intervals, a process known as bone - cost averaging. Successful investing is lower about timing the request than giving a broad portfolio of investments the time it needs to grow.
Inventory stock :stock is the force of finished goods available for trade, and force includes both finished goods and factors that produce a finished product. In other words, all stock is force, but not all force is stock. Inventory refers to all the particulars, goods, wares, and materials held by a business for dealing in the request to earn a profit. Example If a review seller uses a vehicle to deliver journals to the guests, only the review will be considered inventory. The vehicle will be treated as an asset.
What's the significance of inventory?Anyhow of the size of your company, having a proper inventory operation system is veritably important for any business. It can help you keep track of all your inventories and determine the exact prices. It can also help you manage unforeseen changes in demand without immolating client experience or product quality.
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pa 13. lo 6.5grainger company produces only one product and sells that product for $100 per unit. cost information for the product is: direct material $15 per unit direct labor $25 per unit variable overhead $5 per unit fixed overhead $34,000 selling expenses are $4 per unit and are all variable. administrative expenses of $20,000 are all fixed. grainger produced 5,000 units; sold 4,000; and had no beginning inventory. compute net income under absorption costing variable costing reconcile the difference between the income under absorption and variable costing.
The net income in the
absorption costing = $156,800The variable costing = $15000Reconciliation = $156800How to solve for the net income under the absorption costingWe have 4000 * 100 = 400000
direct materials = 15 x 4000 = 60000
direct labor = 25 x 4000 = 100000
Variable overhead = 5 x 4000 = 20000
fixed overhead = 34,000/5000*4000 = 27,200
Gross profit = 400000 - 60000 - 100000 - 20000 - 27200
= 192800
The selling expense = $4*4000 = 16,000
The administrative expenses = 20,000
net income = 192800 - 16000 - 20000 = 156,800
The absorption costing is $156,800
2. How to solve for the net income under the Variable costingSale = 4000 x 100 = 400000
variable cost = 15 + 25 + 5 + 4 * 4000 = 49 * 4000 = 196000
fixed cost = 34,000+20,000 = 54,000
The net income = 400000 - 196000 - 54000 = 150,000
Hence the net income under absorption is $156,800
The net income under variable costing is $150,000
3. Reconciliation
= 150000 + (34000 / 5000 * 1000)
= 150000 + 6800
= $156800
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a company has beginning inventory for the year of $10,500. during the year, the company purchases inventory for $190,000 and ends the year with $27,000 of inventory. the company will report cost of goods sold equal to:
The business will disclose the cost of goods sold of $1,73,500.
What is inventory?Inventory refers to all the products, services, and supplies that a business keeps on hand with the intention of reselling them for a profit. Raw materials, work-in-progress (WIP), finished goods, maintenance, repair, and overhaul (MRO), and are the four forms of inventory that are most frequently employed (MRO). Understanding the various sorts of inventory you have will help you manage and handle it more efficiently.
Beginning inventory = $10,500
Purchase inventory = $190,000
Ending inventory = $27,000
So, the cost of products sold is given by Beginning inventory + Purchase inventory - Ending Inventory
By putting the value, we get,
$10,500 + $190,000 - $27,000
= $173,500
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