Answer:
$183,000
Explanation:
Advanced Company
<u>Income Statement for the year - absorption costing</u>
Sales ($71 x 21,000 units) $1,491,000
Less Cost of Sales ($1,008,000)
Gross Profit $483,000
Less Expenses
Operating expenses ($300,000)
Net Income $183,000
where,
Cost of Sales = Units Sold x Product Cost
= 21,000 x $48
= $1,008,000
Product Cost = all manufacturing costs (absorption costing)
= $19 + $21 + $3 + ($175,000 ÷ 35,000)
= $48
That it's not plugged in? It sounds like it's just off.
Are there any answer choices? Because that's my best guess.
Answer : a. True
It is true that price ceilings are created to keep products affordable for consumers. Price ceilings are set by the government. It is a government initiative to regulate the prices of commodities, products and services in the market to protect the consumers' interests and rights. In deciding the price ceiling, it must be considered that it should be below the natural market equilibrium. Legally, the prices can't just be raised suddenly but must follow certain legal and business procedures.
you too!
I don't really like valentines day, I'm probably just gonna hang out with my friend and play Minecraft ;-;
