Answer:
The answer is: setting product prices high enough for the company to be profitable.
Explanation:
Production cost refers to the <u>cost that a company has incurred from the moment it manufactured its product, towards the delivery until it provided the product or service to the customers. </u>Part of this cost are the taxes that are imposed on the product or service.
So, in order to control costs, the production cost report is being used by managers in order to set product prices high enough for the company to be profitable.
or example, if the production cost is higher than the sale price of a product, then the company could either l<u>ower their production cost or set their product prices high enough in order to be profitable.</u> If they cannot do both, then they could stop producing the product or service.
Answer:
$87.25
Explanation:
Calculation for the effective price paid to repurchase the stock
Using this formula
Effective price = Strike Price + Price
Let plug in the formula
Effective price =$80+$7.25
Effective price =$87.25
Therefore the effective price paid to repurchase the stock will be $87.25
Answer:
Income statement using absorption costing.
Sales $756,000
Less Cost of Goods Sold
Opening Stock $0
Total Manufacturing Costs $655,000
Less Closing Stock ($104,800) ($550,200)
Gross Profit $205,800
Less Operating Expenses
Selling and administrative expenses:
Variable $35,000
Fixed $10,500 ($45,500)
Net Income $160,300
Explanation:
The Product cost is the to total of all manufacturing costs.
Answer: Barbara should have left a note for the other driver and Barbara’s action is an example of a hit and run.
Explanation:
Hit and run occurs when there's a traffic collision with another car or human being and the person who caused the collision doesn't stop and therefore doesn't provide necessary information details which are required by law to the other person affected.
With regards to the scenario discussed in the question, Barbara should have left a note for the other driver and Barbara’s action is an example of a hit and run.
She should have left a note which will consist of details of how she can be reached in case there's further damage on the car.
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