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ss7ja [257]
3 years ago
7

g Crane Corporation incurred the following costs while manufacturing its product. Materials used in product$126,400Advertising e

xpense$54,100 Depreciation on plant61,000Property taxes on plant21,800 Property taxes on store7,650Delivery expense27,300 Labor costs of assembly-line workers113,500Sales commissions38,400 Factory supplies used29,300Salaries paid to sales clerks55,400 Work in process inventory was $14,600 at January 1 and $16,700 at December 31. Finished goods inventory was $
Business
1 answer:
IgorC [24]3 years ago
5 0

Answer:

124,300

Explanation:

Finished goods is the inventory which is completed during the period and is ready to be sold out. Finished goods is a part of available for sale inventory of a company. Crane corporations finished goods inventory on the year end December 31 is 124,300. This is calculated as follows,

Finished goods inventory = Beginning Work in process - Materials added  - Ending work in process .

Finished goods inventory = $14,600 + $126,400 - $16,700

Finished goods inventory = 124,300

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Suppose the price of gasoline decreases from $4.20 to $2.00, and in response quantity demanded increases from 10600 to 11200. Us
Tems11 [23]

Answer:

0.079

Explanation:

Price elasticity of demand using midpoint formula can be calculated as follows

Formula

Elasticity of demand = (change in quantity/average quantity)/(change in price/average price)

Calculation

Elasticity of demand = (600/10,900)/(-2.1/3.05)

Elasticity of demand =-0.055 / -0.688

Elasticity of demand =-0.079

working

Change in price (2-4.1) = -2.1  

Average price (2+4.1)/2=3.05

Change in quantity (11,200-10600) = 600

average quantity (11,200+10,600)/2 = 10,900

 

The elasticity of demand is inelastic as the elasticity is below 1.

4 0
3 years ago
Roger always purchased insurance for the 10 years he owned an expensive speedboat. Since he never had an accident, the premiums
miv72 [106K]

The answer base on the given scenario would be letter a, Roger would gain benefits as he was protected from a financial loss as this insurance covers him financially as the insurance of which premiums he has paid and were to gain would only make him the person of having to have the benefit as he is the one who has the insurance covered for him, which is entitled to his name and that the benefits and offers would be his gain.

6 0
3 years ago
Write a SOP for the procedure you identified as one that would be helpful for effective communication as a monitor?
Klio2033 [76]

A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity.

<h3>What is Standard Operating Procedures?</h3>

A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity. A standard operating procedure exists as a set of step-by-step instructions collected by an organization to assist workers to carry out routine operations. SOPs desire to accomplish efficiency, quality output, and uniformity of performance, while decreasing miscommunication and defeat to comply with industry regulations.

SOPs can also be used as a part of a personnel training schedule, hence they should support complicated work instructions. When historical data are being assessed for current usage, SOPs can be advantageous for reconstructing project movements.

Additionally, SOPs exist commonly used as checklists by inspectors when auditing systems. Finally, the benefits of a valid SOP stand minimized work effort, together with enhanced data comparability, credibility, and legal defensibility. SOPs exist necessary even when published procedures are being administered because cited published techniques may not contain appropriate data for conducting the procedure in-house.

To learn more about Standard Operating Procedures refer to:

brainly.com/question/27217435

#SPJ9

8 0
2 years ago
A june sales forecast projects that 6,000 units are going to be sold at a price of $10.50 per unit. the desired ending inventory
ohaa [14]
Purchases = Sales units + Closing inventory - Beginning Inventory
                  = 6,000 + (1,000 * 115%) - 1,000
                  = 6,150 units
7 0
3 years ago
During the current month, Ringling Company incurs the following manufacturing costs:
melisa1 [442]

Answer:

Part a

Debit  : Raw material $4,200

Credit : Accounts Payable $4,200

Part b

Debit  : Salaries $18,000

Credit : Salaries Payable $18,000

Part c

Debit  : Factory utilities $2,200

Debit  : Factory Insurance $1,800

Debit  : Depreciation  $3,500

Credit : Overheads $7,500

Explanation:

The journal entries for each type of manufacturing cost have been prepared above.

7 0
2 years ago
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