Answer:
b. $1,260,000
Explanation:
The computation of the total manufacturing cost is shown below:
= Cost of goods manufactured + ending work in process - beginning work in progress
= $1,280,000 + $60,000 - $80,000
= $1,260,000
We simply add the ending work in progress and deduct the beginning work in progress to the cost of goods manufactured so that the accurate amount can come
Answer:
The correct answer is B that is gain of $1,000
Explanation:
The amount of gain or loss on the disposal of the fixed assets is computed as:
Amount of loss or gain = (Selling Price + Accumulated depreciation) - Cost of fixed assets
where
Selling Price is $27,500
Accumulated depreciation is $3,500
Cost of fixed assets is $30,000
Putting the values above:
= ($27,500 + $3,500) - $30,000
= $31,000 - $30,000
= $1,000
It is a gain of $1,000 on disposal of the fixed assets.
Answer:
B) Developing countries are using less oil because of substantial investments in renewable energy.
Explanation:
Developing countries using less oil by investing in renewable sources of energy will weaken the argument as this directly contradicts the basis of James' argument. Since there is less demand from developing countries for oil, the argument that their demand pushes the prices high falls apart and hence is now a weakened argument.
Hope that helps.
