Answer: Organizational goods
Explanation: Organizational goods can be defined as those commodities that are purchased by business entities for their operational activities. These goods are procured by organizations
to increase their effectiveness.
In the above case Dure plastics inc. purchased spare parts for its manufacturing machine, thus, to maintain business operations effectively.
Hence we can conclude that spare parts are organizational goods.
Answer:
b. $100 million
Explanation:
Data provided as per question below
Revenue = $200 million
Cost = $100 million
The computation of firm's accounting profit is shown below:-
Firm's accounting profit = Revenue - Cost
= $200 million - $100 million
= $100 million
Therefore, for computing the $100 firm accounting profit we simply applied the above formula.
Answer: $14371.6
Explanation:
Given that,
According to FIFO method,
Marvin sold = 1,900 units of inventory during the month
Cost of Beginning inventory = 990 × $7.25
= $7177.5
on Mar. 10
Cost of Purchase = 570 × $7.73
= $4,406.1
Remaining purchases = Total units sold - Beginning inventory - number of units purchase on mar 10
= 1,900 - 990 - 570
= 340 units
Cost of remaining purchases = 340 units × $8.2
= $2,788
Total cost of goods sold = Cost of Beginning inventory + Cost of Purchase + Cost of remaining purchases
= $7177.5 + $4,406.1 + $2,788
= $14371.6
Total Asset Turnover -Net sales / Revenue divided by Average Total Cost
Explanation:
Total Asset turnover helps to know :-
1. Financial Condition - Which means how much profit the company has earned and what are there Retained Earnings.
2. Desirable Ratios - Depending upon the company type and size ratios are decided which helps them to make a standard comparison.
Total Asset turnover helps to compare the efficiency of the company through figures which would give them a direction to increase there sales volume.
