Answer:
Option (c) is correct.
Explanation:
The perfectly competitive firm produces at a point where the marginal revenue is equal to the marginal cost because it the profit maximizing point for the competitive firms. Under the perfectly competitive market conditions, the price is determined by the two forces: demand and supply of the goods.
The firms under this market condition, faces a perfectly elastic demand curve which implies that the buyers are free to buy any quantity of goods.
Answer:
c. brand advertising
Explanation:
<em>c. brand advertising </em>
It engage the consumer to purchase the product or service being advertised.
a. internal advertising
this adverize is done to hire vacants inside the company instead of hiring from utside the company
b. corporate advertising
Is done to put into radar of consumer the entire organization or company. It d not advertize for an individual brand or product.
d. institutional advertising
It is done to focus on the benefits, ideas, or philosophies of the organization. It is done to iprove the reputation. It buils positive image. It do not sale a product or service.
Answer:
Cost of goods sold = $179,000
Explanation:
The cost of goods sold represent the amount of direct expenditure incurred on the units of goods sold for the period. It is computed as follows
Cost of goods sold = Opening inventory + cost of production - closing inventory
Note that closing inventory represents the value of the goods yet to be sold at the end o the period while opening inventory represent the worth of goods brought forward from the previous period.
Cost of production is the addition of direct material, direct labour and production overhead.
The cost of goods sold for unique production is
Cost of goods sold = Opening inventory + production - closing inventory
cost of gods sold = 20,000 + (60,000 + 35,000 + 100,000) - 36,000
= $179,000
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Answer and Explanation:
The Journal entry is shown below:-
Factory labor Dr, $480,000
To Factory wages payable $400,000
To Employee payroll taxes payable $80,000
(Being factory labor cost is recorded)
Here we debited the factory labor as it increased the expenses and we credited the factory wages payable and employee payroll taxes payable as it also increased the liabilities
