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notsponge [240]
3 years ago
5

A sporting equipment store expects to purchase $8,700 of ski boots in October. The store had $2,300 of ski boots in merchandise

inventory at the beginning of October, and expects to have $1,300 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October?
Business
1 answer:
likoan [24]3 years ago
5 0

Answer:

The expected cost of goods sold for the month of October would be $9700

Explanation:

Formula for taking out cost of goods sold  (October) -

              BEGINNING INVENTORY

                               +

              PURCHASING  MADE

                               +

              ENDING INVENTORY

Available information -  beginning inventory = $2300

                                       purchase = $8700

                                       ending inventory =  $1300

Putting the values in the formula -

= $2300 + $8700 - $1300

= $9700

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The average cost curve and the variable revenue curve are two lines which intersect at level of output when the firm is supplying and that business is earning zero economic profits.

If the price which the  firm is charging from customer is higher than its average cost of production for the quantity of the goods produced, then the firm will earn profits to a large extent.

Conversely, if the price which is charged by the firm is lower than its average cost of production, the firm will suffer losses.

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If the reserve requirement is 5 percent, a bank desires to hold no excess reserves, and it receives a new deposit of $10, then t
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Answer:

c. will be able to make new loans up to a maximum of $9.50

Explanation:

If the reserve requirement is 5% it means that the bank is required to reserve(not loan out) 5% of it's reserves so in this case the bank is required to 5% of 10 (0.05*10) $0.50 as reserves and can loan out $9.50 (10-0.50). As the bank has no desire to hold on to excess reserves we can be sure that it will only hold 0.50 as reserve as it is required and loan out $9.50. So statement c is correct.

Statement A is incorrect because the bank does not need to increase required reserve by $10 but by just $0.50.

Statement B is incorrect a deposit of $10 cannot increase the total reserve by $10.50 as it is impossible mathematically.

Statement d is incorrect because 2 of the 3 statements are incorrect therefore all of the above statements cant be correct.

8 0
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All of the cells in the body need oxygen. Hemoglobin molecules in red blood cells transport oxygen through the bloodstream. Oxyg
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Answer:

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Alika [10]

Answer:

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Explanation:

As at 31st December, which was a Wednesday, the company would have incurred salaries for three days i.e Monday-Wednesday.

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