Answer: Your competitor in fine furniture.
Explanation:
If as stated in the question, my competitor is able to produce more fine furniture than me, from the same amount of resources, that means that my competitor has a comparative advantage over me in furniture making. Comparative advantage is the process whereby a business can be more productive than their competitors, with the same amount of resources.
Answer:
$56400
Explanation:
The value of ending inventory is $56400 as we sales are 25% above the actual cost of goods sold therefore first we find Cost of goods sold.
Gross profit = Sales - Cost of Goods Sold
G.P = $225000 - CGS
0.25% of CGS = $225000 - CGS
0.25 CGS + 1 CGS = $225000
1.25 CGS = $225000
CGS = $225000/1.25
CGS = $180000
We know that
Opening inventory $75000
Add purchases $161400
Total goods Available for sale $236400
Less: Cost of Good Sold $ 180000
Ending inventory = $56400
Answer: Development task
Explanation:
Development task is basically refers to the predictably stage of the project which is associated with the next period of development stage.
In the development stage, the project are being developed by using new technology and the services for overcoming the existing project drawbacks. It is basically developed by the Robert Havighurst in the year 1948.
Therefore, the above given situation is best example of the development tasks.
Answer:
supply; decrease
increase; demand
Explanation:
If the production costs decline, producers are able to manufacture more products with the same amount of money which means that the supply increases and when the amount of products offered increases, the price tends to decrease.
If the unemployment decreases, more people have jobs and salaries which means that consumer income increases and if people have more money, they are more willing to buy things which causes the demand to increase.
Answer and Explanation:
The computation is shown below;
But before that return completed & transferred out is
= 100 + 1600 - 200
= 1,500
Now
1) Number of equivalent unit is
= 1,500 + (200 × 90%) - (100 × 30%)
= 1,500 + 180 - 30
= 1,650 units
2) cost per equivalent unit is
= $173,250 ÷ 1,650 units
= $105
3) cost of completed tax returns is
March 1 $2,500
Add: Beginning finished ($105 × 100 × (1 - 0.30) $7,350
Add; started and finished = (105 × (1,500 - 100)) $147,000
Total $156,850
4. The cost of tax retrun in process
= $105 × (200 × 90%)
= $18,900
