Answer:
696,325 Pounds
Explanation:
The computation of the direct material purchase budget is given below:
Here we assume that
one pound = 16 ounces
Now total wax needed is
= Production of Finished Goods × Pounds of wax needed for production
= 730,000 candles × 11 ÷ 16
= 501,875 pounds
Now
Total direct material purchased = (Total Wax needed + Ending Inventory, Jan.31 - opening inventory) × unit price
= (490,625 Pounds + 12,900 pounds - 17,400 pounds) × $1.40 per pound
= 696,325 Pounds
Answer:
False
Explanation:
Studies of mutual fund performance indicate that mutual funds that outperformed the market in one time period usually do not beat the market in the next time period.
Answer: 94 DAYS
Explanation: The average time it takes for the business to complete the whole process of making initial cash outflow to produce goods and receiving cash from customers by selling those goods produced is called operating cycle of that business.
formula = number of days of inventory + number of days in accounts receivable
therefore,
operating cycle = 61 days + 33 days = 94 days
Answer:
a. Does this qualify as a good Section 351 transaction?
Answer: No. This is because service is not a qualified property contribution under the section 321. Moreover, fair value of stock received by Chrissie is just 75% of 100%.
b. What gain does Chrissie Recognize?
Answer: The Gain Chrissie recognizes = FMV of stock received - Adjusted basis of transferred property = $750,000 - $500,000 = $250,000.
c. What gain does Mirinda recognize?
Answer: The Gain Mirinda recognizes is $0 or Mirinda will recognizes compensation worth which will be taxed as an ordinary Income ($250,000).
Answer: Producer surplus, which is equal to the slope of the supply curve.
Explanation: The producer surplus is represented as the upper portion of the supply curve below the equilibrium price. It is the difference between the amount a producer is willing to sell a given commodity to the actual market price the good was sold at.
The extra benefit which the producer makes as profit when the market price at which the goods was sold at is greater than the amount the producer was willing to sell his goods.
