What phase of the business cycle would be marked by an increase in productivity while employment and profits also rise

Myles Manufacturing Company's accounting records reflect the following inventories: Dec. 31, 2014 Dec. 31, 2013 Raw materials in

Basile [38]

Answer:

Myles Manufacturing Company

Cost of Goods Sold = $2,700,000

Explanation:

Cost of Goods Sold:

Beginning Inventory of Raw Materials = $820,000

Purchase of Materials = $900,000

Less closing inventory of Raw Materials = $620,000

Cost of Raw Materials used in production = $1,100,000

Opening WIP = $220,000

Cost of Raw Materials used in production = $1,100,000

Direct Labour = $1,000,000

Manufacturing Overhead = $960,000

Less Closing WIP = $300,000

Cost of Goods Manufactured = $2,980,000

Opening Finished Goods = $100,000

Cost of Goods Manufactured = $2,980,000

Less closing Finished Goods = $380,000

Cost of Goods Sold = $2,700,000

3 0

3 years ago

A manager checked production records and found that a worker produced 160 units while working 40 hours. In the previous week, th

alukav5142 [94]

Answer:

A. 4; 3.83 units per hour

B. Increases by 4.44%.

Explanation:

Given that,

Current period:

Output = 160 units

Input = 40 hours

Previous period:

Output = 138 units

Input = 36 hours

A. Current period productivity:

= Current period output ÷ Current period input

= 160 units ÷ 40 hours

= 4 units per hour

Previous period productivity:

= Previous period output ÷ Previous period input

= 138 units ÷ 36 hours

= 3.83 units per hour

B. Percentage change in worker's productivity:

= [(change in productivity) ÷ Previous period productivity] × 100

= [(4 - 3.83) ÷ 3.83] × 100

= (0.17 ÷ 3.83) × 100

= 0.0444 × 100

= 4.44%

Therefore, the worker's productivity increases by 4.44%.

3 0

3 years ago

Pete the Pizza Man produced $87,000 worth of pizzas in the past year. He paid $39,000 to employees, paid $11,000 for vegetables

Ne4ueva [31]

Answer:

$133,000

Explanation:

We can find Pete's total contribution to GDP by adding up the following numbers:

$87,000 worth of pizzas - because finished goods are part of GDP

$39,000 paid to employees - because wages are part of GDP

$5,000 paid in taxes - taxes are part of GDP because they are government revenue

$2,000 of inventories at the end of year - end-of-year inventories are included in GDP

Therefore: $87,000 + $39,000 + $5,000 + $2,000 = $133,000

the $11,000 worth of ingredients are not included in GDP because GDP only accounts for finished goods and services.

5 0

3 years ago

Beverley wants to sign up for time warner cable internet onlnie. she has the option to choose residential or business services.

Sindrei [870]

Choose a different server

6 0

2 years ago

An accounting clerk for Chesner Co. prepared the following bank reconciliation:

cricket20 [7]

Answer:

A. Adjusted balance $17,760

Adjusted balance $17,760

B. $17,760

Explanation:

A. Preparation of a new bank reconciliation for Chesner Co.

Cash balance according to bank statement l

$14,220

Add Deposit in transit on August 31 $6,690

Deduct Outstanding checks $3,150

Adjusted balance $17,760

Cash balance according to company's records $6,570

Add Error by Chesner Co. in recording Check No. 1056 as $820 instead of $280 540

Add Note for $10,300 collected by bank, including interest 10,710

Less Bank service charges 60

Adjusted balance $17,760

B. Based on the above bank reconciliation If a balance sheet were prepared for Chesner Co. on July 31, 2016 the amount that should be reported for cash is $17,760

From the data prepared by the accounting clerk,

b. If a balance sheet were prepared for Chesner Co. on July 31, 2016, what amount should be reported for cash?

5 0

3 years ago