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Anna007 [38]
3 years ago
13

Illustrate the following with supply and demand curves:

Business
1 answer:
Ilya [14]3 years ago
4 0

Answer:

Please see attachment

Explanation:

Please see attachment

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Quirch Inc. manufactures machine parts for aircraft engines. The CEO, Chucky Valters, was considering an offer from a subcontrac
Brilliant_brown [7]

Answer:

Supplier's quotation (2,400 x $6.25)                     150,000

Less: Relevant cost of production:

Direct material (2,400 x $31)                 74,400

Direct labour (2,400 x $18)                    43,200

Variable overhead (2,400 x $9)             <u>21,600</u>       <u>139,200</u>

Savings                                                                       <u> 10,800</u>

The parts should be produced in-house since the relevant cost of production is lower than supplier's quotation.

 Explanation:

In this case, we need to compare supplier's quotation to the relevant cost of production. The price of $6.25 above was computed by dividing the total price charged by the supplier by the number of parts. Moreso, the relevant cost of production is obtained by the aggregate of direct material, direct labour and variable overhead.

8 0
3 years ago
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 25,100 $ 21,100
tamaranim1 [39]

Answer:

                        Bledsoe Corporation

Schedule of Cost of goods manufactured

Particulars                                      Amount

Direct materials:  

Beginning material inventory        $25,100.00  

Add: Purchases                              <u>$72,100.00</u>

Raw material available for use      $97,200.00  

Less: Ending material inventory    <u>$21,100.00</u>

Raw material used in production   $76,100.00  

Less: Indirect material                     <u>$4,010.00   </u>   $72,090.00

Direct labor                                                             $92,100.00

Manufacturing overhead applied                          <u>$41,100.00</u>

Total manufacturing costs                                      $205,290.00

Add: Beginning WIP                                                <u>$17,100.00</u>

Total cost of work in process                                 $222,390.00

Less: Ending WIP                                                     <u>$10,100.00</u>

Cost of goods manufactured                                 <u>$212,290.00</u>

                Bledsoe Corporation

                 Schedule of COGS

Particulars                                                    Amount

Cost of goods sold:

Beginning finished goods inventory        $48,100.00

Add: Cost of goods manufactured           <u>$212,290.00</u>

Cost of goods available for sale               $260,390.00

Less: Ending finished goods inventory    <u>$56,100.00</u>

Unadjusted cost of goods sold                 $204,290.00

Add: Underapplied overhead                   <u>$1,010.00   </u>($42,110 - $41,100)  

Adjusted cost of goods sold                    <u>$205,300.00</u>

3 0
2 years ago
Dudley Transport Company divides its operations into four divisions. A recent income statement for its West Division follows. DU
Ghella [55]

Answer:

Companywide income would increase by $6,000 if West Division is eliminated.

Explanation:

The amount by which the companywide income will increase or decrease if West Division is eliminated can be determined by comparing Revenue with avoidable cost.

Avoidable cost refers to the cost that will be eliminated or not incurred if a firm decides to change the course of a business.

In this question, avoidable cost is simply the cost or expenses that will be eliminated if West Division is eliminated.

Among all the expenses in the question, only Companywide facility-sustaining costs which is $78,000 cannot be eliminated if West Division is eliminated.

Therefore, avoidable cost can be calculated as follows:

Avoidable cost = Salaries for drivers + Fuel expenses + Insurance + Division-level facility-sustaining costs = 210,000 + 30,000 + 42,000 + 24,000 = $306,000

Since, Revenue = $300,000

Decision rule:

1. If revenue is greater than avoidable cost, we have a decrease in income. Therefore, the division should not be eliminated.

2. If revenue is less than avoidable cost, we have an increase in income. Therefore, the division should be eliminated.

Since the revenue of $300,000 is less than the avoidable cost of $306,000, it implies we have an increase in income based on the decision rule 2. The increase in income is calculated as follows:

Increase in income if West Division is eliminated = Avoidable cost – Revenue = $306,000 - $300,000 = $6,000

Therefore, companywide income would increase by $6,000 if West Division is eliminated

Since there would be an increase in income of $6,000, West Division should therefore be eliminated.

4 0
3 years ago
Which of the following is not one of the eight recognized consumer rights? a. right to the satisfaction of basic needs b. right
Elis [28]

B. Right to simplicity

8 0
2 years ago
Read 2 more answers
Suppose the government passes a law eliminating holidays and, as a result, the production of goods and services increases becaus
hjlf

Answer:

B) GDP would definitely increase because GDP excludes leisure.

Explanation:

The gross domestic product GDP includes the market value of all the final and legal goods and services produced within a country during one year.

Leisure time by itself is not included in the GDP, recreational and travel activities are, e.g. hotel services, restaurants, camping equipment, etc.

8 0
3 years ago
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