Answer: $26,000
Explanation:
Ending Inventory = Beginning Inventory + Units to be produced - Sales
18,000 = 15,000 + Units to be produced - 23,000
Units to be produced = 18,000 + 23,000 - 15,000
Units to be produced = $26,000
Answer:Ob
---ways people obtain their wants with limited resources
Explanation:
Economics as defined by Lionel Robbins is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses.
The economy generally is filled with people having unlimited wants but the resources( land, labour, capital and enterpreneur) to satisfying these wants are Limited and scarce . Economics studies how the society (government and businesses)use these scarce resources to satisfy or meet its unlimited wants by providing variety of goods and services from the scarce resources so that people can have choices to choose from in satisfying their limitless wants in order of preferences.
Answer:
$56,000
Explanation:
Given the above information, we will calculate first the total cash flow.
Total cash flow = Opening cash receivable + Sales - Ending cash receivables
= $196,000 + $880,000 - $226,000
= $850,000
Ending cash balance = Opening cash balance + Total cash flow - Cash disbursement
= $146,000 + $850,000 - $940,000
= $56,000
Answer:
Intensive
Explanation:
Because the goods are expensive, and complex and requires pre-purchase assistance, the channels for this product has to be very intensive as there would be continuous purchasing as well as assistance request for the product. This simply means that service delivery and channels are to be manned intensively to meet the needs of the customers.
I hope this helps.
Answer:
In Barton and Barton Company's general journal, entry required include:
Debit Retained Earnings Account with $8.2 million
Credit Opening Inventory with $8.2 million
Being reversal of overstated inventory due to change from FIFO to Average cost method.
Explanation:
The debit entry to the Retained Earnings Account will reduce the balance by $8.2 million. The effect of overstating the closing inventory is overstatement of the net income because the cost of sales was understated as a result of the inventory overstatement.
The credit entry to the Opening Inventory reduces the balance to the new balance based on the average cost method of $23.8 million.
The FIFO cost method or First-In, First-Out method is an inventory costing method that assumes that goods that were bought first were the ones to be sold first. The inventory cost is therefore valued with the most recent quantity and cost price.
On the other hand, the Average Cost Method, also called the Weighted Average Cost Method, calculates the inventory cost by adding all the period's inventory and dividing it by the quantity for the period. This gives an average cost which is in turn used to multiply the quantity of inventory at the end of the period to obtain the inventory cost.
Both methods are estimates that produce different results and affect the reported net income differently. There is always the need for consistency in choosing the method to apply so that reported net income is not unduly distorted.
