Identify the term for unsold goods, raw materials, Or work-in-progress that a company has.

Business

1 answer:

ss7ja [257]3 years ago

3 0

Answer:

Inventory

Explanation:

Inventory refers to

The finished products in the warehouse or store that is ready for sale.
Raw materials used in the production of goods
Goods that in the production process, also known as work in progress.

Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.

You might be interested in

As the number of firms in an oligopoly increases, a. the total quantity of output produced by firms in the market gets closer to

Aleksandr [31]

Answer:

A is the correct answer.

Explanation:

Oligopoly is the market form in which a small number of large sellers dominate. It results in the reduction of the competition and leads to higher prices for consumers. they have their market structure. In oligopoly each firm stays aware of others, hence their decisions influence others and vice versa. The developed economies are dominated by Oligopolies. For example, if the total market share of the American telecom companies (Verizon wireless, AT and T and T mobile ) is combined, it comes out to be more than ninety percent.

4 0

3 years ago

Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs t

erastovalidia [21]

Answer:

Balance for the Factory Overhead account: 19,000 credit

Explanation:

We will first, calculate the overhead rate based on the predetermination overhead rate:

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$