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Law Incorporation [45]
2 years ago
15

the law of increasing oppurtunity cost is the economic principle that greater production of one good requires giving up more of

another good. this is represented by?
Business
1 answer:
hram777 [196]2 years ago
5 0

The law of increasing opportunity cost is represented by law of diminishing returns,

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I dont know how to turn 4x+4 into factored form
Mariulka [41]
4(x + 1)
Hope I helped!
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4 0
3 years ago
Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with
vekshin1

Answer:

59,700 units

Explanation:

The computation of the equivalent units for the conversion cost is shown below:

= Opening work in process units × completion percentage + units started and completed × completion percentage + ending work in process units  × completion percentage

= 4,600 units × 100% + 36,500 units × 100% + 31,000 units × 60%

= 4,600 units + 36,500 units + 18,600 units

= 59,700 units

6 0
3 years ago
A mixed cost: A. Requires the future outlay of cash and is relevant for future decision making. B. Does not change with changes
Ket [755]

Answer:

6. D. Contains a combination of fixed costs and variable costs.

7. B. Does not change with changes in the volume of activity within the relevant range.

8. C. Direct materials, direct labor, and factory overhead.

9. A. Finished goods inventory.

10. D. Work-in-Process inventory.

11. B. Cost of goods purchased.

Explanation:

6. Mixed cost is a combination of fixed costs and variable costs. Therefore, the option "D" is the correct answer. However, it is not directly traceable to a cost object. The mixed cost has not been incurred until the manufacturer uses it. It cannot change up to a specific volume, but mixed cost increases after that limit — for example - Telephone bill or Electric bill.

7. Fixed cost is the cost that does not change as the volume changes within the relevant range. Therefore, option <em>B</em> is right, and option <em>D</em> is incorrect. Because it does not require the future outlay of cash for decision making, it is not directly traceable to a cost object. If the manufacturer does not rent a house for administrative purposes, it can be avoided.

8. The three major cost components of a manufactured product are-

Direct materials, direct labor, and factory overhead. Those are the combination of manufacturing cost. So, <em>C</em> is the answer. Indirect labor and materials are not major cost components, so <em>B</em> is incorrect. Opportunity cost and sunk costs are decision-making costs, so <em>D</em> is wrong. Selling, administrative, and marketing costs are non-manufacturing costs, so <em>A</em> and <em>E</em> are wrong.

9. When the manufacturing firm has completed the production of a specific product but has not yet sold to the customers or third parties, it is termed as the finished goods inventory. In short, it states that the number of manufactured products that are available for sale. It is a current asset for the manufacturer because those can be sold within a year.

10. Work-in-process inventory is such a type of manufacturing inventory or cost that has not yet been manufactured or partially manufactured or in the process of manufacturing. It is not a conversion costs because it may incur the direct labor and manufacturing overhead. It cannot be a finished good or cost of goods sold.

11. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's cost of goods purchased. Therefore, the option "B" is correct.

The cost of goods sold is measured with the help of the cost of goods purchased. So, option <em>A</em> is incorrect. After adding the costs of goods manufactured with the beginning finished goods inventory, we can get the costs of goods available for sale. Therefore, <em>C</em><em>, </em><em>D</em><em>, </em>and<em> </em><em>E</em> cannot be the answer.

3 0
3 years ago
Calgary Industries is preparing a budgeted income statement for 2018. Predicted sales for the year are $760,000 and cost of good
vivado [14]

Answer:

The budgeted net income for 2018 is : $195,300

Explanation:

Prepare the budgeted income statement for 2018 as follows :

Sales                                                         $760,000

Less Cost of Sales ($760,000 × 40%)   ($304,000)

Gross Profit                                               $456,000

Less Expenses :

Selling Expenses                                       ($84,000)

General and administrative                       ($93,000)

Net Income before tax                              $279,000

Income tax expense ($279,000 × 30%)    ($83,700)

Net Income for the year                             $195,300

Conclusion :

The budgeted net income for 2018 is : $195,300

5 0
3 years ago
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera
NemiM [27]

Answer:

Cost of goods sold = $330,520

Gross profit = $358,050

Net Income = $192,790

Explanation:

Cost of goods sold = Beginning inventory of FG + Cost of goods manufactured - Ending inventory of FG

Cost of goods sold = $77,810+$323,630-$70,920

Cost of goods sold = $330,520

Gross profit = Sales - Cost of goods sold

Gross profit = $688,570 - $330,520

Gross profit = $358,050

Net Income = Gross profit - Selling expenses - Administrative expenses

Net Income = $358,050 - $108,110 - $57,150

Net Income = $192,790

4 0
2 years ago
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