Answer and Explanation:
The computation of the unused resource capacity in energy and repairs for Tri-State Mill. is shown below;
For energy
= $6,900 - 6,000 × $0.90
= $6,900 - $5,400
= $1,500
For repairs
= $12,000 - 600 × $16
= $12,000 - $9,600
= $2,400
Hence, the unused resource capacity in energy and repairs for Tri-State Mill. is $1,500 and $2,400 respectively
There is no industry which can not relay on estimation, all industries needs estimation.
The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.
Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.
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Answer: Wages are flexible if the economy is self-regulating.
Explanation:
Classical economists believe that the economy is self-regulating. This means that if the economy is not at equilibrium, it will return to equilibrium if it is left without interference.
For this to happen, inputs such as wages have to flexible to enable them to adjust to market conditions and thus take the Economy back to equilibrium.
For instance, if there is a recession, wages will reduce so that the prices that the producers can charge will reduce as well which will enable supply to match demand and bring the economy back to equilibrium.
The journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600.
<h3>Inventory shrinkage</h3>
Based on the information given the appropriate the journal entry to record the inventory shrinkage is :
Debit Cost of goods sold $18,600
Credit Inventory $18,600
($12,400+$39,800-$33,600)
(To record inventory shrinkage)
Inconclusion the journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600
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Answer:
Purchases is $3400 million
Explanation:
Cost of goods formula comes readily helpful in this case.
Cost of goods sold=beginning inventory+purchases-ending inventory
by arranging the formula,the purchases formula is given thus:
Purchases=cost of goods sold-beginning inventory+ending inventory
cost of goods sold is $2,900 million
ending inventory is $4,600 million
beginning inventory is $4,100 million
purchases=($2,900-$4,100+$4,600) million
purchases=3400 million
