Answer:
d.$38,000
Explanation:
The computation of the inventory amount is shown below:
= (Total cost and expenses amount ÷ number of units produced) × unsold units
= ($380,000 ÷ 10,000 units) × 1,000 units
= $38,000
All other information which is given in the question is not relevant. Hence, ignored it
We simply divide the total cost and expenses amount with the production units and then multiply it by unsold units
I think it’s true
(Not sure)
Answer:
c. $8,000
Explanation:
The security deposit is usually refundable and NOT part of the rental income and, therefore, it should be deducted from the total amount received when reporting rental income for the tax year.
Thus, Brad and Kate should report $8,000 as rental income in the current tax year.
Answer:
Zero
Explanation:
Supply is buyers ability & willingness to sell at given price, period of time.
Elasticity of Supply is change in supply by buyers, in response to price change.
Supply Elasticity is as undermentioned in following cases :-
- Zero (Perfectly Inelastic) - Quantity supplied doesn't change with price change.
- Inelastic - Quantity supplied change < price change.
- Elastic - Quantity supplied change > price change
- Infinite (Perfectly Elastic) - Quantity supplied responds infinitely high to price change, prices stay constant.
Given : Fishermen must sell all his daily catch before it spoils; means he will have to sell daily produce <u>irrespective</u> of any price change (rise / fall). So, the elasticity of supply is zero.
