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3 years ago

For the current year, Hodges Department Store reported the following data:

Business

1 answer:

Ostrovityanka [42]3 years ago

5 0

Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.

Using this formula

Cost of goods sold=Goods available for sale-Inventory balance

Where:

Goods available for sale=$1,074,450

Inventory balance=$85,430

Let plug in the formula

Cost of good sold=$1,074,450-$85,430

Cost of good sold=$989,020

Inconclusion Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.

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For what reason might someone decide to bring a civil law suit against a person or a business? What might the

Svetradugi [14.3K]

Answer:

The reason for a civil law suit can be almost any harm or wrongful act done to an individual or business, by another person or business entity. For example, a breach of most contracts can be considered as the reason for a civil law suit. Also, car accidents and misfortunes take a big share in civil law suits.

If a defendant loses in a civil law suit, he usually pays in dollars, as reimbursement for the harm done. Rarely, this results in actual time in prison (behind bars).

----------------------------------------------------------------

Usually, when harm or potential misunderstanding includes someone you know or work with, the first step is to try to settle things without court. Legal costs can become overwhelming, especially if the problem could be solved beforehand.

Also, the social and relationship aspect is extremely important. If you take a case to the court (especially if the reason is minor and could be potentially settled without the aid of legal entities), the relationship between you and the defendant will always have a hostile notion to it. That is a factor to take into consideration if the defendant is an acquaintance or co-worker.

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3 years ago

Annette drove through an intersection without looking and hit Vincent's car that he had driven into the intersection without obe

Papessa [141]

Answer:

$70,000

Explanation:

Under a Comparative negligence theory,

When an accident occurs, the blame or fault is determined by the contributions of each party towards the accident.

In a pure comparative negligence theory, the victim or plaintiff who files a case, sue the other party and received some part of the damages and hence each party receives the amount related to their damages minus the part of their fault.

In our case, Annette fault contributes 30% to the collision and determined that her total loss was $100,000.

So, Annette will recover:

= Total loss - 30% of fault

= $100,000 - 0.3 × $100,000

= $100,000 - $30,000

= $70,000

4 0

3 years ago

The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the fi

Daniel [21]

Answer:

Quick Furniture Company

The Sanding Department

Production Report

For the month of March 2017:

Materials Conversion Total

Manufacturing costs $35,948 $56,240 $92,188

Cost per equivalent unit:

Manufacturing costs $35,948 $56,240

Equivalent units 9,510 7,110

Cost per equivalent unit $3.78 $7.91

Cost assigned to:

Units transferred out $24,608 $51,494 $76,102

Ending Work in Process $11,340 $4,746 16,086

Total costs assigned $35,948 $56,240 $92,188

Explanation:

a) Data and Calculations:

Materials Conversion

Units started 9,510

Units completed 6,510 6,510 6,510

Ending WIP 3,000 3,000 600

Equivalent units 9,510 7,110

Production Cost Report:

Materials Conversion Total

Manufacturing costs $35,948 $56,240 $92,188

Cost per equivalent unit:

Manufacturing costs $35,948 $56,240

Equivalent units 9,510 7,110

Cost per equivalent unit $3.78 $7.91

Cost assigned to:

Units transferred out $24,608 $51,494 $76,102

($3.78 * 6,510) ($7.91 * 6,510)

Ending Work in Process $11,340 $4,746 16,086

($3.78 * 3,000) ($7.91 * 600)

Total costs assigned $35,948 $56,240 $92,188

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3 years ago

Luz manages a chain of bars and restaurants in a tri-county area that has recently experienced an economic boom because of frack

mixas84 [53]

Answer:

an increase in prices.

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It is easy in this scenario to have prices double for some goods.

This is why where in areas where there is economic boom all prices go up from real estate to petty goods. This trend becomes the norm as residents take new price regime as normal.

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3 years ago

calculate the opportunity cost of producing the first 10 missiles. 4. calculate the opportunity cost of producing the last 10 mi

Luda [366]

Milk in 6 million gallons

Milk Missiles (Millions of Gallons)

0 40 \s 10 34 \s 20 27 \s 30 19 \s 40 10 \s 50 0

The economic benefit of manufacturing the final 10 missiles should be calculated.

10,000,000,000 gallons of milk

Milk Missiles (Millions of Gallons)

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What would it imply if the economy was in its initial state?

Points inside the curve indicate inefficiency, waste, and underutilization of capacity.

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1 year ago