Answer:
There are three types of innovation.
Product, Process and business Model.
The company Amazon is one of the leading online business in the world. It has achieved success through process innovation.
Explanation:
Amazon has created a culture of innovation in its organization. The employee working in the amazon are free to share their innovative ideas and management considers those ideas when making strategic planning of business. This is the reason amazon has been able to launch many different types of technological innovations which provide support to their customers and their shopping experience is comfortable.
Answer:
The cost of goods sold that would be reported on the incoem statement is $70000
Explanation:
The cost of goods sold is the value or cost of the inventory that a business sells to its customers. The cost of goods sold for the year can be calculated using the following formula.
Cost of Goods Sold (COGS) = Opening Inventory + Purchases for the year - Closing Inventory
Thus, Elm Corporation has a cost of goods sold to report on this year's income statement of:
COGS = 32000 + 57000 - 19000 = $70000
The domestic variety is cheaper because there is no import duties or no charges imposed on it because of the import from other countries.
<u>Explanation:</u>
A country produces a lot of goods and services in it's own economy using the resources which are present in it's own country. But the goods and the services that are not available in the country but are demanded by the citizens of the country are imported from other countries.
When these goods and services are imported from other countries then there is an imposition of duties or taxes on those goods making the charges of those goods high. With the transportation of the goods from one country to the other, then also some cost is imposed on the good. This increases the cost or the price of the good.
Answer:
1. 2. April 30 $11600
31-May $20100
2. April 30 $3,200
31-May $11,90
3. Profit April 0
May$800
June $2975
Explanation:
1) Calculation for Work in Process Inventory at
April 30 and 31-May
Work in Process Inventory at
April 30=7500+4100
Work in Process Inventory at
April 30=$11600
Work in Process Inventory at31-May =4100+6900+4700+4400
Work in Process Inventory at31-May= $20100
2) Calculation for Finished Goods Inventory at
April 30 and 31-May
Finished Goods Inventory at
April 30: $3,200
Finished Goods Inventory at 31-May =7500+4400
Finished Goods Inventory at 31-May= $11,900
3) Calculation for Gross Profit
Gross Profit April : 0
Gross Profit May =3200*25%
Gross Profit May=800
Gross ProfitJune :- Job 10 =(7500+4400)*25% Gross Profit June 2975
