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Kruka [31]
3 years ago
15

If hawkins manufacturing purchased $13,000 in metal, $6,000 in cloth, and $2,000 in cleaning supplies, the raw materials invento

ry would have
Business
1 answer:
kirill115 [55]3 years ago
5 0
Raw materials are goods that are for processing which will result in finished products which are for sale.  

The raw materials inventory includes the metal of $13,000 and the cloth of $6,000 or a total of $19,000.  The $2,000 cleaning supplies do not fall under the classification of raw materials, instead, this falls under prepaid supplies and later reclassified to supplies expense once consumed. 
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BusCorp wants to introduce a new procedure to improve how customer requests are handled. This change will require employees to b
serg [7]

Answer:

E)Employee involvement

Explanation:

Employee involvement can be regarded as taking part of employees in decision-making process that are crucial to the organization, so that the goals of the organization are met. When employees there is involvement of employees in making decisions, there will be some professional as well as personal stake gained by the employee in the organization as well as the organization overall success. As a result of this there would be increased productivity in part of employees because they will take part actively in various aspects that will bring about success of the firm.

8 0
3 years ago
The price of good X increases from $55 to $60, and quantity demanded decreases from 500 to 400. The price of good Y increases fr
nikklg [1K]

Answer:

demand curve for Good X is more elastic than the demand curve for Good Y

Demand for good X is elastic because the coefficient of elasticity is greater than 1.

Demand for good Y is inelastic because the coefficient of elasticity is less than 1.

consumers who buy Good Y are less sensitive to price changes than consumers who buy Good X

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

For good X,

Percentage change in price = $55 / $60 - 1 = | -0.0833| = 8.33%

Percentage change in quantity demanded = 500 / 400 - 1 = 0.25 = 25%

Elasticity of demand = 25% / 8.33% = 3

Demand for good X is elastic because the coefficient of elasticity is greater than 1.

For good Y,

Percentage change in price = $55 / $60 - 1 = | -0.0833| = 8.33%

Percentage change in quantity demanded = 500 / 475 - 1 = 0.0526 = 5.26%

Elasticity of demand = 5.26% / 8.33% = 0.63

Demand for good Y is inelastic because the coefficient of elasticity is less than 1.

consumers who buy Good Y are less sensitive to price changes than consumers who buy Good X

8 0
3 years ago
Required information E12-3 Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO 12-2] [Th
kompoz [17]

Answer:

Net income = $320

Net cash flow from Operating activity = $145

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $485

        To Service revenue A/c $485

(Being sales service is provided for cash)

2. Salary expense A/c Dr $165

   Outstanding salary expense A/c Dr $175

              To Salary and wages payable A/c  $340

(Being salary expense is recorded)

Salary and wages payable A/c  $340

       To Cash $340

(Being salary and wages are paid)

The net cash flow from operating activities would be

= Service revenue - salaries and wages payable

= $485 - $340

= $145

The net income would be

= Sales - salary expense

= $485 - $165

= $320

Cash flow from Operating activities under the indirect method  

Net income $320

Less: Decrease in salary payable - $175

Net Cash flow from Operating activities $145

4 0
3 years ago
Wilma is one of five equal members of Polar, LLC. This year, Polar generates $5 million in profits. The company reinvests $4 mil
bogdanovich [222]

Answer:

c. Wilma (and each of the members) pays taxes on their $1 million share ($5 million divided by 5) of profits.

Explanation:

Data provided in the questions

Generated profits = $5 million

Reinvested amount into the company = $4 million

Out of which $1 million is to be divided equally

based on the above information, the federal income tax should be paid by 5 members of $1 million each

Hence, the option c is correct  

And all other options are wrong

3 0
3 years ago
Willco Inc. manufactures electronic parts. They are analyzing their monthly maintenance costs to determine the best way to budge
ASHA 777 [7]

Answer:

Variable cost per unit= $1.048

Explanation:

Giving the following information:

Highest activity cost= $151,000

Highest activity units= 86,300

Lowest activity cost= $125,000

Lowest activity units= 61,500

<u>To calculate the variable cost under the high-low method, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit=  (151,000 - 125,000) / (86,300 - 61,500)

Variable cost per unit= $1.048

6 0
3 years ago
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