Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
The correct answer is letter "B": business.
Explanation:
Business data represents the information of the transactions a company carries out as a result of its operations. Information about suppliers and customers is recorded for control purposes and, mainly, to cover the legal obligation to report the accounting analysis of the firm in the Financial Statements.
Besides, the accounting information of a firm allows managers to compare budget expectations with the current performance of the company to take decisions on what course the entity should follow to reach its objectives.
Answer: The market demand curve for soft drinks will shift to the left and the market supply curve will shift to the left as well: equilibrium quantity will decrease and the equilibrium price may rise, fall, or remain the same. The graphs below illustrate this idea.
Explanation:
Answer:
COGS= $31,597.5
Explanation:
Giving the following information:
Direct materials $13.00
Direct labor 8.80
Manufacturing overhead 16.50
Last year, Wooten & McMahon Enterprises produced and sold 825 units
First, we need to calculate the cost of goods manufactured:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 0 + 13 + 8.8 + 16.5 - 0= $38.3
Total cost of goods manufactured= 825*38.3= $31,597.5
Now, we can calculate the cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 0 + 31,597.5 - 0= $31,597.5