The economic system in which the state controls the economy is called

Soloha48 [4]

Answer:

...... .... .nh8yv8gigig

8 0

3 years ago

Gibson company began august with 200 units of product br having a unit cost of $8 in inventory. relevant information is listed a

In-s [12.5K]

ANSWER: To calculate the gross profit for the month of August, Gibson will have to find out the sales in his company. Gibson had a opening stock of 200 units of products valuing $8 per unit. The total value of the stock available at the opening of the month is $8 x 200 units = $1,600. If he uses the average cost method to calculate the inventory cost, he will need the opening stock and the production done in the month of August. This will give him the figure which will show his entire stock which were available for sale in the month.

Let's assume the entire stock produced in the month of August to be 'x', so the total stock available for sale was '$1,600+x'. This amount needs to be subtracted by the closing stock of the month to get the actual value of sales that has happened during the month of August. So, dividing the actual value of sales by the production cost of the sold number of units will give Gibson the gross profit for the month of August.

7 0

3 years ago

revorrow Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets a

nlexa [21]

Answer:

$9,906 F

Explanation:

Calculation as follows:

Budget Income Statement

Particular $

Revenue (28.4 x 7,000) 198,800

Direct Labor (2.8 x 7,000) (19,600)

Direct Material (10.7 x 7,000) (74,900)

Manufacturing Overheads

(38,000 + [1.5 x 7,000] ) (48,500)

Selling and administrative Expenses

(23,600 + [0.3 x 7,000] ) (25,700)

Net Operating Income 30,100

Actual Income Statement

Particular $

Revenue 205,320

Direct Labor (18,974)

Direct Material (72,252)

Manufacturing Overheads (48,320)

Selling and administrative Expenses (25,768)

Net Operating Income 40,006

Activity variance for net operating income = Net operating income actual - Net operating income budgeted

Activity variance for net operating income = 40,006 - 30,100

Activity variance for net operating income = $9,906 F

8 0

3 years ago

Suppose the current market price of corn is $3.75 per bushel. Your firm has a technology that can convert 1 bushel of corn to 3

Aleks04 [339]

Answer:

At 1.783 or more, the conversion yield better gain than sales the corn

Explanation:

The ethanol conversion become attractive if the cost for doing the conversion are lower than the sale revenue for the product.

total cost: raw materials + conversion cost

corn price: $ 3.75

conversion cost: $ 1.60

Total cost: $ 5.35

output: gallon of ethanol per bushel

3 gallons of ethanol per bushel

total cost / output = 5.35/3 = 1.783 cost per gallon

5 0

3 years ago

Mr. Sanderson works for a chain of clothing stores. He gathers information so he can figure out the best way to organize the sto

STALIN [3.7K]

Answer:

C

Explanation:

3 0

2 years ago

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