Answer:
E=-4.0746
Explanation:
Using the midpoint method, Lauren's income elasticity of demand for new outfits is determined by the change in income multiplied by the average number of outfits, divided by the change in the number of outfits multiplied by the average income:
Her income elasticity of demand for new outfits is -4.0746.
Answer:
Kindly find the complete questions attached.
a) 325,000 units were transferred to finished goods
direct materials 171,053
direct labor 85,526
factor overhead 68,421
(b) February's equivalent units of production was 445,000 units :
direct materials 234,211
direct labor 117,105
factor overhead 93,684
(c) the cost of direct material introduced into production during February was $234,211
(d) The cost of direct labor introduced into production in February was $35,132
(e) The factory overhead application rate was 80% of Direct Labor
(f ) Of the total cost (beginning inventory plus additional production cost), allocation to
ending work in process is 120,000 units costing $80,211
(g) Of the total cost (beginning inventory plus additional production cost), transfer to finished goods inventory is $217,237
(h) February's gross profit is $373,363
Please review the attached for detailed workings and presentation of the answers
