By what date must taxes be filed in the united states?

Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the

Annette [7]

The ending inventories of chemicals for each month are 36,135, 33,825 and 41,456 gallons. Also, the beginning inventory for January is 36,135 gallons.

<h3>The table for planned production.</h3>

In order to calculate the ending inventory of chemicals for the three months, we would create a table for planned production as follows:

<u> January February March___</u>

Units to be produced 43,800 41,000 50,250

<u>Direct materials per unit 5.5 5.5 5.5 ___</u>

Total direct materials 240,900 225,500 276,375

Since the company's policy requires ending inventories of raw materials for each month to be 15% of the next month's production needs, we have:

December = 15/100 × 240,900 = 36,135 gallons.

January = 15/100 × 225,500 = 33,825 gallons.

February = 15/100 × 276,375 = 41,456 gallons.

March = Nil.

Also, the beginning inventory of chemicals for January is given by December's ending inventory of 36,135 gallons.

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<u>Complete Question:</u>

Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is:

January 43,800

February 41,000

March 50,250

Each drum requires 5.5 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January?

8 0

2 years ago

Tony Matheson plans to graduate from college in May 2018 after spending four years earning a degree in sports and recreation man

valentinak56 [21]

Answer:

1. Proprietorship, Partnership and Corporation (details below)

2. Refer the answer with details below

3. Refer the answer with details below

Explanation:

1. Three primary forms of business organizations

Proprietorship

Having a single owner and hence all liabilities and assets belong to the proprietor and he is personally liable, lower tax

Partnership

Partnership of two or more, and therefore profits and liabilities are distributed and they are personally liable, lower tax than corporation

Corporation

Separate legal identity and hence owners are not personally liable, limited liability with stringent controls and regulated, higher tax rates.

Given the circumstances of the Great Adventures i.e. safety and sustainability, corporation would be recommended.

2. Activities

A) Financing Activities may include common stock, borrowings, and repayments.

B) Investing Activities may include purchase and sell of assets like land, building and machinery and investments

C) Operating Activities may include providing goods and services to the customers ans related operational cost to run the day to day business.

3. Specific Account Names

Assets may include Cash, Merchandise Inventory, Accounts Receivable, Property, Plant and Equipment

Liabilities may include Accounts Payable, Bank Overdraft, Notes Payable, accruals, loans.

Stockholders' equity may include common stock, retained earnings

Revenue may include Service revenue, other income

Expenses may include Salaries, Rent, Insurance advertising

8 0

2 years ago

Indicate whether the demand of below goods is elastic or inelastic. Think about each good in terms of the typical person's quant

dexar [7]

Answer:

Elastic Demand : a , b , c

Inelastic Demand : d , e , f

Explanation:

Demand Elasticity is responsiveness of quantity demanded to price change. If demand responds more to price change, Demand is Elastic. If demand responds less to price change, Demand is Inelastic.

If goods have non necessary consumption or/ & have more substitutes, its demand can be reduced or shifted to other alternatives easily. So, such demand is Elastic. If goods have necessary consumption or/& have less substitutes, demand can be reduced or shifted to other alternatives easily. So, such demand is Inelastic.

a, b , c : 'Cocoa' Pebbles cereal, 'Tropicana' Orange Juice, Fast food in mall food court - Are single brands or sellers of a good among many competitors, so scope of substitution make their demand elastic.

d , e , f : blood pressure and diabetes medication, public water and other utilities - are necessity goods and cigarettes if smoke 3 packs a day - implies the person is addicted to its consumption. So, their demand is Inelastic.

3 0

2 years ago

Is a form of unemployment that involves layoffs during recessions?

alukav5142 [94]

Unemployment is the art of being jobless. Unemployment rate is the number of people unemployed as a percentage of labor force where the labor force include those unemployed plus those in paid or self employment. There are several types of unemployment including, seasonal , cyclical, structural and frictional unemployment among others. In this case, cyclical employment involves layoffs during recessions.

6 0

3 years ago

Around the world, various brands of personal computers are sold with Pentium processors. This fact is often used as a selling po

valina [46]

Answer:

C. Co-Branding

Explanation:

Co-branding is a marketing strategy or a strategic alliance where there are multiple brand names jointly used on a product or a service. It involves the synergy of the unique strengths and selling-points of many brands to create a single but attractive product.

Co-branding is also known as brand partnership and it involves at least two companies collaborating on a product. Although, it can be more than two companies. It makes use of brand tools such as identifiers, unique colour schemes and logos to put the identity of various co-operating brands on a product.

Therefore, the partnership between HP or Dell for instance, that shows "intel inside", "Windows 10" and "Nvidia G-Force" is basically a strategic alliance amongst at least 4 brands (Dell or HP- the maker of the machine's body, Intel- the Central Processing Unit, Microsoft-the operating system and Nvidia- the Graphics Processing Unit) to create a good product that appeals to customers globally.

Co-branding is not unique to computer products only. It can be used by many businessess including car makers, retailers, manufacturers to incrase their profitability, save cost, increase market share and customer loyalty among many other benefits.

6 0

3 years ago