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Do you want to do it in my butt
yes
no
yes
no yes
Answer:
Sheffield Company
Inventory Turnover Ratio = Cost of goods sold/Average Inventory
= $1,145,400/$138,000
= 8.3 times
Explanation:
a) Data and Calculations:
Beginning inventory = $145,000
Ending inventory = $131,000
Average inventory = (Beginning inventory + Ending inventory)/2
= ($145,000 + 131,000)/2
= $138,000
Sales revenue = $1,972,800
Cost of goods sold = $1,145,400
Net income = $248,400
b) The inventory turnover ratio for Sheffield Company is an efficiency ratio that shows how inventory is managed and the number of times Sheffield sells or consumes the inventory during an accounting period. This is why Sheffield Company takes the average of the inventories in order to smoothen seasonal fluctuations in the inventory level during the year. When this ratio divides the number of days in the accounting period, Sheffield will get the days it takes for inventory to be purchased or produced, and then sold or consumed.
Answer:
differential cost of producing product C = $24 per pound
Explanation:
given data
B currently selling = $30 per pound
produce cost = $28 per pound
C would sell = $60 per pound
produce additional cost = $24 per pound
to find out
What is the differential cost of producing Product C
solution
we get differential cost of producing product C is express as
differential cost of producing product C = cost of (B+C) - cost of B .............1
put here value we get
differential cost of producing product C = (28+24) - 28
differential cost of producing product C = $24 per pound
Answer:
The answer is: A) some people win, some people lose, and there is a loss of economic efficiency.
Explanation:
When the government imposes a price ceiling, some consumers win since they buy cheaper products (lower than equilibrium price) but suppliers lose. Inf the government decides a price floor is better, then customers will lose and some suppliers will win (prices are higher than equilibrium price).
Both price ceilings and price floors cause deadweight loss, decreasing economic efficiency.
