Answer:
Explanation:
The journal entry that would include is shown below:
Work in Progress inventory A/c Dr $125,000
Factory overhead A/c Dr $24,000
(Being labor cost is recorded)
The computation is shown below:
Work in progress = Labor expenses + whole labor expenses
=$88,000 + $37,000
= $125,000
The labor expenses are directly related to the product which means it is a direct cost
And, the whole labor expense is considered to be the overhead cost as it is not directly related to the product
And, the $24,000 is also considered as an overhead cost because it is used in both the departments so it is come under the factory overhead account
Answer:
99.91%.
Explanation:
For Salt Lake City, the probability that there will be fire damage is:
5% = 0.05
Therefore, the probability that there will be no fire is:
99.95% = 0.9995
For Cleveland, the probability that there will be fire damage is:
4% = 0.04
Therefore, the probability that there will be no fire is:
99.96% = 0.9996
To calculate the probability that none of the production facilities will damaged by fire, we simply multiply both probabilities thus:
0.9995 X 0.9996
= 0.9991
The answer is therefore:
99.91%
Answer:
d. a decrease in price increases quantity demanded.
Explanation:
Law of demand: According to the law of demand, if the price of the good decreases, the quantity demanded would increase and vice versa. It shows an inverse relationship between price and quantity demanded. That's why its curve is always downward sloping
It effects the price and quantity demanded only and other things remain constant.
Answer:
Note: The full question is attached as picture below
a. Let X is denoted as company’s monthly demand, P(X=x) is denoted as the probability of the company’s monthly demand.
The expected value is obtained below:
E(X) = (300*0.20) + (400*0.30) + (500*0.35) + (600*0.15)
E(X) = 60+120+175+90
E(X) = 445
b. The expected value of the monthly demand is 445. The each unit demands the revenue to generate is $70 and their cost is $50.
The gain/loss of the company = (300*(70−50)) - (145*50)
The gain/loss of the company = (300*20) - (145*50)
The gain/loss of the company = 6,000 - 7,250
The gain/loss of the company =−$1,250(Loss)